Total monthly cost of ownership
Cost to Own a Home in McKenzie, Tennessee
A $140,000 home here costs
$1,164per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $720. The real number is $444 higher every month — 62% 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.
McKenzie against Weakley County and Tennessee
| Measure | McKenzie | Weakley County |
|---|---|---|
| Median home value | $140,200 | $136,300 |
| Median property tax | $842 | $737 |
| Effective tax rate | 0.601% | 0.541% |
| Median gross rent | $669 | $760 |
| Population | 5,706 | 32,959 |
McKenzie extends across 3 counties. Figures here use Weakley County, where most of its housing sits.
The weather behind that power bill
McKenzie 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 $130 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
Common questions
How much does it cost to own a home in McKenzie?
A $140,000 home in McKenzie, Tennessee costs approximately $1,164 per month with 20% down at 6.66%. That is $720 principal and interest, $70 property tax, $59 homeowners insurance, $198 utilities and $117 set aside for maintenance.
What is the property tax rate in McKenzie?
McKenzie has an effective property tax rate of 0.601%, based on a median home value of $140,200 and median real estate taxes of $842. That is higher than the Weakley County average of 0.541%.
What is the average home price in McKenzie?
The median owner-occupied home value in McKenzie, Tennessee is $140,200, against $136,300 across Weakley County.
Is it cheaper to rent or buy in McKenzie?
Median gross rent in McKenzie is $669 a month, against $1,164 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 McKenzie — 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.