Total monthly cost of ownership
Cost to Own a Home in Monteagle, Tennessee
A $299,000 home here costs
$2,195per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,537. The real number is $658 higher every month — 43% 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.
Monteagle against Franklin County and Tennessee
| Measure | Monteagle | Franklin County |
|---|---|---|
| Median home value | $299,400 | $215,700 |
| Median property tax | $1,019 | $1,218 |
| Effective tax rate | 0.340% | 0.565% |
| Median gross rent | $746 | $863 |
| Population | 1,818 | 43,478 |
Monteagle extends across 3 counties. Figures here use Franklin County, where most of its housing sits.
The weather behind that power bill
Monteagle sits in Franklin County, which averages a high of 87.3°F in its hottest month and a low of 30.2°F in its coldest, with 57.67" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,454 cooling and 3,519 heating degree days, which is what sets the $130 electricity line above.
See the full climate breakdown for Franklin County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Franklin County
Full Franklin County cost breakdown · Every county in Tennessee
Common questions
How much does it cost to own a home in Monteagle?
A $299,000 home in Monteagle, Tennessee costs approximately $2,195 per month with 20% down at 6.66%. That is $1,537 principal and interest, $85 property tax, $126 homeowners insurance, $198 utilities and $249 set aside for maintenance.
What is the property tax rate in Monteagle?
Monteagle has an effective property tax rate of 0.340%, based on a median home value of $299,400 and median real estate taxes of $1,019. That is lower than the Franklin County average of 0.565%.
What is the average home price in Monteagle?
The median owner-occupied home value in Monteagle, Tennessee is $299,400, against $215,700 across Franklin County.
Is it cheaper to rent or buy in Monteagle?
Median gross rent in Monteagle is $746 a month, against $2,195 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 Monteagle — 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.