Total monthly cost of ownership
Cost to Own a Home in New Tazewell, Tennessee
A $163,000 home here costs
$1,370per 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 $58,500 a year.
A standard mortgage calculator would have told you $889. The real number is $481 higher every month, 54% more than the payment most buyers budget for.
Compare Claiborne County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for New Tazewell from a five-year rolling sample, and with about 2,779 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Claiborne County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
New Tazewell against Claiborne County and Tennessee
| Measure | New Tazewell | Claiborne County |
|---|---|---|
| Median home value | $162,500 | $148,000 |
| Median property tax | $644 | $728 |
| Effective tax rate | 0.396% | 0.492% |
| Median gross rent | $690 | $736 |
| Population | 2,779 | 32,221 |
The weather behind that power bill
New Tazewell sits in Claiborne County, which averages a high of 84.7°F in its hottest month and a low of 22.8°F in its coldest, with 54.68" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 893 cooling and 4,786 heating degree days, which is what sets the $155 electricity line above.
See the full climate breakdown for Claiborne County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Claiborne County
Full Claiborne County cost breakdown · Every county in Tennessee
Talk to someone who works this market
These are New Tazewell 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 New Tazewell every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in New Tazewell I already own here and may sell
Common questions
How much does it cost to own a home in New Tazewell?
A $163,000 home in New Tazewell, Tennessee costs approximately $1,370 per month with 20% down at 7.24%. That is $889 principal and interest, $54 property tax, $69 homeowners insurance, $223 utilities and $136 set aside for maintenance.
What is the property tax rate in New Tazewell?
New Tazewell has an effective property tax rate of 0.396%, based on a median home value of $162,500 and median real estate taxes of $644. That is lower than the Claiborne County average of 0.492%.
What is the average home price in New Tazewell?
The median owner-occupied home value in New Tazewell, Tennessee is $162,500, against $148,000 across Claiborne County.
Is it cheaper to rent or buy in New Tazewell?
Median gross rent in New Tazewell is $690 a month, against $1,370 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 New Tazewell?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in New Tazewell, Tennessee at today's rate takes a household income of roughly $58,500 a year. That covers the full $1,370 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for New Tazewell, 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.