Total monthly cost of ownership
Cost to Own a Home in Germantown, Tennessee
A $441,000 home here costs
$3,610per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $154,500 a year.
A standard mortgage calculator would have told you $2,443. The real number is $1,167 higher every month, 48% more than the payment most buyers budget for.
Compare Shelby County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Germantown against Shelby County and Tennessee
| Measure | Germantown | Shelby County |
|---|---|---|
| Median home value | $441,200 | $229,700 |
| Median property tax | $4,654 | $2,376 |
| Effective tax rate | 1.055% | 1.034% |
| Median gross rent | $1,760 | $1,170 |
| Population | 40,812 | 922,195 |
The weather behind that power bill
Germantown sits in Shelby County, which averages a high of 91.9°F in its hottest month and a low of 33.3°F in its coldest, with 54.94" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 2,314 cooling and 2,875 heating degree days, which is what sets the $158 electricity line above.
See the full climate breakdown for Shelby County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Shelby County
Full Shelby County cost breakdown · Every county in Tennessee
Talk to someone who works this market
These are Germantown 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 Germantown every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Germantown I already own here and may sell
Common questions
How much does it cost to own a home in Germantown?
A $441,000 home in Germantown, Tennessee costs approximately $3,610 per month with 20% down at 7.4%. That is $2,443 principal and interest, $388 property tax, $186 homeowners insurance, $226 utilities and $368 set aside for maintenance.
What is the property tax rate in Germantown?
Germantown has an effective property tax rate of 1.055%, based on a median home value of $441,200 and median real estate taxes of $4,654. That is higher than the Shelby County average of 1.034%.
What is the average home price in Germantown?
The median owner-occupied home value in Germantown, Tennessee is $441,200, against $229,700 across Shelby County.
Is it cheaper to rent or buy in Germantown?
Median gross rent in Germantown is $1,760 a month, against $3,610 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 Germantown?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Germantown, Tennessee at today's rate takes a household income of roughly $154,500 a year. That covers the full $3,610 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Germantown, 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.