Total monthly cost of ownership
Cost to Own a Home in Gordonsville, Tennessee
A $239,000 home here costs
$1,930per 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 $82,500 a year.
A standard mortgage calculator would have told you $1,303. The real number is $627 higher every month, 48% more than the payment most buyers budget for.
Compare Smith County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Gordonsville from a five-year rolling sample, and with about 1,385 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 Smith 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.
Gordonsville against Smith County and Tennessee
| Measure | Gordonsville | Smith County |
|---|---|---|
| Median home value | $238,800 | $224,500 |
| Median property tax | $1,248 | $1,047 |
| Effective tax rate | 0.523% | 0.466% |
| Median gross rent | $871 | $877 |
| Population | 1,385 | 20,196 |
The weather behind that power bill
Gordonsville sits in Smith County, which averages a high of 89.0°F in its hottest month and a low of 27.0°F in its coldest, with 52.51" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,456 cooling and 3,807 heating degree days, which is what sets the $155 electricity line above.
See the full climate breakdown for Smith County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Smith County
Full Smith County cost breakdown · Every county in Tennessee
Talk to someone who works this market
These are Gordonsville 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 Gordonsville every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Gordonsville I already own here and may sell
Common questions
How much does it cost to own a home in Gordonsville?
A $239,000 home in Gordonsville, Tennessee costs approximately $1,930 per month with 20% down at 7.24%. That is $1,303 principal and interest, $104 property tax, $101 homeowners insurance, $223 utilities and $199 set aside for maintenance.
What is the property tax rate in Gordonsville?
Gordonsville has an effective property tax rate of 0.523%, based on a median home value of $238,800 and median real estate taxes of $1,248. That is higher than the Smith County average of 0.466%.
What is the average home price in Gordonsville?
The median owner-occupied home value in Gordonsville, Tennessee is $238,800, against $224,500 across Smith County.
Is it cheaper to rent or buy in Gordonsville?
Median gross rent in Gordonsville is $871 a month, against $1,930 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 Gordonsville?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Gordonsville, Tennessee at today's rate takes a household income of roughly $82,500 a year. That covers the full $1,930 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Gordonsville, 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.