Total monthly cost of ownership
Cost to Own a Home in Jackson, Tennessee
A $195,000 home here costs
$1,668per 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 $71,500 a year.
A standard mortgage calculator would have told you $1,080. The real number is $588 higher every month, 54% more than the payment most buyers budget for.
Compare Madison 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.
Jackson against Madison County and Tennessee
| Measure | Jackson | Madison County |
|---|---|---|
| Median home value | $195,000 | $189,700 |
| Median property tax | $1,408 | $1,161 |
| Effective tax rate | 0.722% | 0.612% |
| Median gross rent | $1,094 | $1,076 |
| Population | 68,098 | 98,845 |
The weather behind that power bill
Jackson sits in Madison County, which averages a high of 90.6°F in its hottest month and a low of 27.4°F in its coldest, with 56.89" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,790 cooling and 3,618 heating degree days, which is what sets the $158 electricity line above.
See the full climate breakdown for Madison County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Madison County
Full Madison County cost breakdown · Every county in Tennessee
Talk to someone who works this market
These are Jackson 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 Jackson every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Jackson I already own here and may sell
Common questions
How much does it cost to own a home in Jackson?
A $195,000 home in Jackson, Tennessee costs approximately $1,668 per month with 20% down at 7.4%. That is $1,080 principal and interest, $117 property tax, $82 homeowners insurance, $226 utilities and $163 set aside for maintenance.
What is the property tax rate in Jackson?
Jackson has an effective property tax rate of 0.722%, based on a median home value of $195,000 and median real estate taxes of $1,408. That is higher than the Madison County average of 0.612%.
What is the average home price in Jackson?
The median owner-occupied home value in Jackson, Tennessee is $195,000, against $189,700 across Madison County.
Is it cheaper to rent or buy in Jackson?
Median gross rent in Jackson is $1,094 a month, against $1,668 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 Jackson?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Jackson, Tennessee at today's rate takes a household income of roughly $71,500 a year. That covers the full $1,668 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Jackson, 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.