Total monthly cost of ownership
Cost to Own a Home in Decatur, Tennessee
A $219,000 home here costs
$1,779per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $76,000 a year.
A standard mortgage calculator would have told you $1,194. The real number is $585 higher every month, 49% more than the payment most buyers budget for.
Compare Meigs County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Decatur from a five-year rolling sample, and with about 1,860 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Meigs County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Decatur against Meigs County and Tennessee
| Measure | Decatur | Meigs County |
|---|---|---|
| Median home value | $218,800 | $185,500 |
| Median property tax | $1,046 | $727 |
| Effective tax rate | 0.478% | 0.392% |
| Median gross rent | $821 | $845 |
| Population | 1,860 | 13,076 |
The weather behind that power bill
Decatur sits in Meigs County, which averages a high of 87.6°F in its hottest month and a low of 28.3°F in its coldest, with 58.74" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,385 cooling and 3,762 heating degree days, which is what sets the $155 electricity line above.
See the full climate breakdown for Meigs County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Meigs County
No other places of this size are published in Meigs County.
Full Meigs County cost breakdown · Every county in Tennessee
Talk to someone who works this market
These are Decatur averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Decatur every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Decatur I already own here and may sell
Common questions
How much does it cost to own a home in Decatur?
A $219,000 home in Decatur, Tennessee costs approximately $1,779 per month with 20% down at 7.24%. That is $1,194 principal and interest, $87 property tax, $92 homeowners insurance, $223 utilities and $183 set aside for maintenance.
What is the property tax rate in Decatur?
Decatur has an effective property tax rate of 0.478%, based on a median home value of $218,800 and median real estate taxes of $1,046. That is higher than the Meigs County average of 0.392%.
What is the average home price in Decatur?
The median owner-occupied home value in Decatur, Tennessee is $218,800, against $185,500 across Meigs County.
Is it cheaper to rent or buy in Decatur?
Median gross rent in Decatur is $821 a month, against $1,779 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Decatur?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Decatur, Tennessee at today's rate takes a household income of roughly $76,000 a year. That covers the full $1,779 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Decatur, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Tennessee.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.