Total monthly cost of ownership
Cost to Own a Home in Jackson, Tennessee
A $195,000 home here costs
$1,562per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,002. The real number is $560 higher every month — 56% more than the payment most buyers budget for.
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 $130 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
Common questions
How much does it cost to own a home in Jackson?
A $195,000 home in Jackson, Tennessee costs approximately $1,562 per month with 20% down at 6.66%. That is $1,002 principal and interest, $117 property tax, $82 homeowners insurance, $198 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 $1,562 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
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.