Total monthly cost of ownership
Cost to Own a Home in Nashville-Davidson metropolitan government (balance), Tennessee
A $383,000 home here costs
$2,844per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,969. The real number is $875 higher every month — 44% 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.
Nashville-Davidson metropolitan government (balance) against Davidson County and Tennessee
| Measure | Nashville-Davidson metropolitan government (balance) | Davidson County |
|---|---|---|
| Median home value | $383,100 | $386,600 |
| Median property tax | $2,355 | $2,390 |
| Effective tax rate | 0.615% | 0.618% |
| Median gross rent | $1,486 | $1,485 |
| Population | 684,298 | 709,846 |
The weather behind that power bill
Nashville-Davidson metropolitan government (balance) sits in Davidson County, which averages a high of 90.9°F in its hottest month and a low of 30.1°F in its coldest, with 50.51" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,873 cooling and 3,364 heating degree days, which is what sets the $130 electricity line above.
See the full climate breakdown for Davidson County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Davidson County
Full Davidson County cost breakdown · Every county in Tennessee
Common questions
How much does it cost to own a home in Nashville-Davidson metropolitan government (balance)?
A $383,000 home in Nashville-Davidson metropolitan government (balance), Tennessee costs approximately $2,844 per month with 20% down at 6.66%. That is $1,969 principal and interest, $196 property tax, $161 homeowners insurance, $198 utilities and $319 set aside for maintenance.
What is the property tax rate in Nashville-Davidson metropolitan government (balance)?
Nashville-Davidson metropolitan government (balance) has an effective property tax rate of 0.615%, based on a median home value of $383,100 and median real estate taxes of $2,355. That is in line with the Davidson County average of 0.618%.
What is the average home price in Nashville-Davidson metropolitan government (balance)?
The median owner-occupied home value in Nashville-Davidson metropolitan government (balance), Tennessee is $383,100, against $386,600 across Davidson County.
Is it cheaper to rent or buy in Nashville-Davidson metropolitan government (balance)?
Median gross rent in Nashville-Davidson metropolitan government (balance) is $1,486 a month, against $2,844 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 Nashville-Davidson metropolitan government (balance) — 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.