Total monthly cost of ownership
Cost to Own a Home in McMinnville, Tennessee
A $147,000 home here costs
$1,218per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $756. The real number is $463 higher every month — 61% 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.
McMinnville against Warren County and Tennessee
| Measure | McMinnville | Warren County |
|---|---|---|
| Median home value | $147,200 | $173,900 |
| Median property tax | $964 | $777 |
| Effective tax rate | 0.655% | 0.447% |
| Median gross rent | $756 | $775 |
| Population | 13,765 | 41,587 |
The weather behind that power bill
McMinnville sits in Warren County, which averages a high of 88.6°F in its hottest month and a low of 31.2°F in its coldest, with 54.41" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,565 cooling and 3,286 heating degree days, which is what sets the $130 electricity line above.
See the full climate breakdown for Warren County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Warren County
No other places of this size are published in Warren County.
Full Warren County cost breakdown · Every county in Tennessee
Common questions
How much does it cost to own a home in McMinnville?
A $147,000 home in McMinnville, Tennessee costs approximately $1,218 per month with 20% down at 6.66%. That is $756 principal and interest, $80 property tax, $62 homeowners insurance, $198 utilities and $123 set aside for maintenance.
What is the property tax rate in McMinnville?
McMinnville has an effective property tax rate of 0.655%, based on a median home value of $147,200 and median real estate taxes of $964. That is higher than the Warren County average of 0.447%.
What is the average home price in McMinnville?
The median owner-occupied home value in McMinnville, Tennessee is $147,200, against $173,900 across Warren County.
Is it cheaper to rent or buy in McMinnville?
Median gross rent in McMinnville is $756 a month, against $1,218 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 McMinnville — 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.