Total monthly cost of ownership
Cost to Own a Home in Greenfield, Tennessee
A $88,000 home here costs
$868per 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 $37,000 a year.
A standard mortgage calculator would have told you $480. The real number is $388 higher every month, 81% more than the payment most buyers budget for.
Compare Weakley County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Greenfield from a five-year rolling sample, and with about 2,085 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 Weakley 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.
Greenfield against Weakley County and Tennessee
| Measure | Greenfield | Weakley County |
|---|---|---|
| Median home value | $88,400 | $136,300 |
| Median property tax | $663 | $737 |
| Effective tax rate | 0.750% | 0.541% |
| Median gross rent | $718 | $760 |
| Population | 2,085 | 32,959 |
The weather behind that power bill
Greenfield sits in Weakley County, which averages a high of 88.2°F in its hottest month and a low of 27.1°F in its coldest, with 53.56" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,581 cooling and 3,899 heating degree days, which is what sets the $155 electricity line above.
See the full climate breakdown for Weakley County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Weakley County
Full Weakley County cost breakdown · Every county in Tennessee
Talk to someone who works this market
These are Greenfield 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 Greenfield every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Greenfield I already own here and may sell
Common questions
How much does it cost to own a home in Greenfield?
A $88,000 home in Greenfield, Tennessee costs approximately $868 per month with 20% down at 7.24%. That is $480 principal and interest, $55 property tax, $37 homeowners insurance, $223 utilities and $73 set aside for maintenance.
What is the property tax rate in Greenfield?
Greenfield has an effective property tax rate of 0.750%, based on a median home value of $88,400 and median real estate taxes of $663. That is higher than the Weakley County average of 0.541%.
What is the average home price in Greenfield?
The median owner-occupied home value in Greenfield, Tennessee is $88,400, against $136,300 across Weakley County.
Is it cheaper to rent or buy in Greenfield?
Median gross rent in Greenfield is $718 a month, against $868 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 Greenfield?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Greenfield, Tennessee at today's rate takes a household income of roughly $37,000 a year. That covers the full $868 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Greenfield, 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.