Total monthly cost of ownership
Cost to Own a Home in Medina, Tennessee
A $261,000 home here costs
$2,120per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $91,000 a year.
A standard mortgage calculator would have told you $1,423. The real number is $697 higher every month, 49% more than the payment most buyers budget for.
Compare Gibson 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.
Medina against Gibson County and Tennessee
| Measure | Medina | Gibson County |
|---|---|---|
| Median home value | $261,400 | $149,700 |
| Median property tax | $1,759 | $1,016 |
| Effective tax rate | 0.673% | 0.679% |
| Median gross rent | $1,089 | $797 |
| Population | 5,268 | 50,610 |
The weather behind that power bill
Medina sits in Gibson County, which averages a high of 90.2°F in its hottest month and a low of 27.7°F in its coldest, with 56.18" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,766 cooling and 3,676 heating degree days, which is what sets the $155 electricity line above.
See the full climate breakdown for Gibson County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Gibson County
Full Gibson County cost breakdown · Every county in Tennessee
Talk to someone who works this market
These are Medina 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 Medina every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Medina I already own here and may sell
Common questions
How much does it cost to own a home in Medina?
A $261,000 home in Medina, Tennessee costs approximately $2,120 per month with 20% down at 7.24%. That is $1,423 principal and interest, $146 property tax, $110 homeowners insurance, $223 utilities and $218 set aside for maintenance.
What is the property tax rate in Medina?
Medina has an effective property tax rate of 0.673%, based on a median home value of $261,400 and median real estate taxes of $1,759. That is in line with the Gibson County average of 0.679%.
What is the average home price in Medina?
The median owner-occupied home value in Medina, Tennessee is $261,400, against $149,700 across Gibson County.
Is it cheaper to rent or buy in Medina?
Median gross rent in Medina is $1,089 a month, against $2,120 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 Medina?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Medina, Tennessee at today's rate takes a household income of roughly $91,000 a year. That covers the full $2,120 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Medina, 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.