Total monthly cost of ownership
Cost to Own a Home in Lafayette, Tennessee
A $190,000 home here costs
$1,478per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $977. The real number is $501 higher every month — 51% 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.
Lafayette against Macon County and Tennessee
| Measure | Lafayette | Macon County |
|---|---|---|
| Median home value | $189,800 | $211,200 |
| Median property tax | $778 | $858 |
| Effective tax rate | 0.410% | 0.406% |
| Median gross rent | $847 | $805 |
| Population | 5,643 | 25,793 |
The weather behind that power bill
Lafayette sits in Macon County, which averages a high of 87.7°F in its hottest month and a low of 25.3°F in its coldest, with 54.96" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,289 cooling and 4,293 heating degree days, which is what sets the $130 electricity line above.
See the full climate breakdown for Macon County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Macon County
Full Macon County cost breakdown · Every county in Tennessee
Common questions
How much does it cost to own a home in Lafayette?
A $190,000 home in Lafayette, Tennessee costs approximately $1,478 per month with 20% down at 6.66%. That is $977 principal and interest, $65 property tax, $80 homeowners insurance, $198 utilities and $158 set aside for maintenance.
What is the property tax rate in Lafayette?
Lafayette has an effective property tax rate of 0.410%, based on a median home value of $189,800 and median real estate taxes of $778. That is in line with the Macon County average of 0.406%.
What is the average home price in Lafayette?
The median owner-occupied home value in Lafayette, Tennessee is $189,800, against $211,200 across Macon County.
Is it cheaper to rent or buy in Lafayette?
Median gross rent in Lafayette is $847 a month, against $1,478 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 Lafayette — 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.