Total monthly cost of ownership
Cost to Own a Home in Millersville, Tennessee
A $281,000 home here costs
$2,263per 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 $97,000 a year.
A standard mortgage calculator would have told you $1,532. The real number is $731 higher every month, 48% more than the payment most buyers budget for.
Compare Sumner 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.
Millersville against Sumner County and Tennessee
| Measure | Millersville | Sumner County |
|---|---|---|
| Median home value | $280,800 | $364,000 |
| Median property tax | $1,869 | $1,944 |
| Effective tax rate | 0.666% | 0.534% |
| Median gross rent | $1,336 | $1,339 |
| Population | 5,885 | 200,553 |
Millersville extends across 2 counties. Figures here use Sumner County, where most of its housing sits.
The weather behind that power bill
Millersville sits in Sumner 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 $155 electricity line above.
See the full climate breakdown for Sumner County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Sumner County
Full Sumner County cost breakdown · Every county in Tennessee
Talk to someone who works this market
These are Millersville 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 Millersville every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Millersville I already own here and may sell
Common questions
How much does it cost to own a home in Millersville?
A $281,000 home in Millersville, Tennessee costs approximately $2,263 per month with 20% down at 7.24%. That is $1,532 principal and interest, $156 property tax, $118 homeowners insurance, $223 utilities and $234 set aside for maintenance.
What is the property tax rate in Millersville?
Millersville has an effective property tax rate of 0.666%, based on a median home value of $280,800 and median real estate taxes of $1,869. That is higher than the Sumner County average of 0.534%.
What is the average home price in Millersville?
The median owner-occupied home value in Millersville, Tennessee is $280,800, against $364,000 across Sumner County.
Is it cheaper to rent or buy in Millersville?
Median gross rent in Millersville is $1,336 a month, against $2,263 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 Millersville?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Millersville, Tennessee at today's rate takes a household income of roughly $97,000 a year. That covers the full $2,263 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Millersville, 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.