Total monthly cost of ownership
Cost to Own a Home in New Union, Tennessee
A $295,000 home here costs
$2,314per 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 $99,000 a year.
A standard mortgage calculator would have told you $1,608. The real number is $705 higher every month, 44% more than the payment most buyers budget for.
Compare Coffee County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for New Union from a five-year rolling sample, and with about 2,208 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 Coffee 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 Union against Coffee County and Tennessee
| Measure | New Union | Coffee County |
|---|---|---|
| Median home value | $295,100 | $227,300 |
| Median property tax | $1,348 | $1,378 |
| Effective tax rate | 0.457% | 0.606% |
| Median gross rent | $1,574 | $885 |
| Population | 2,208 | 58,940 |
The weather behind that power bill
New Union sits in Coffee County, which averages a high of 86.4°F in its hottest month and a low of 26.4°F in its coldest, with 59.27" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,129 cooling and 4,137 heating degree days, which is what sets the $155 electricity line above.
See the full climate breakdown for Coffee County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Coffee County
Full Coffee County cost breakdown · Every county in Tennessee
Talk to someone who works this market
These are New Union 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 Union every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in New Union I already own here and may sell
Common questions
How much does it cost to own a home in New Union?
A $295,000 home in New Union, Tennessee costs approximately $2,314 per month with 20% down at 7.24%. That is $1,608 principal and interest, $112 property tax, $124 homeowners insurance, $223 utilities and $246 set aside for maintenance.
What is the property tax rate in New Union?
New Union has an effective property tax rate of 0.457%, based on a median home value of $295,100 and median real estate taxes of $1,348. That is lower than the Coffee County average of 0.606%.
What is the average home price in New Union?
The median owner-occupied home value in New Union, Tennessee is $295,100, against $227,300 across Coffee County.
Is it cheaper to rent or buy in New Union?
Median gross rent in New Union is $1,574 a month, against $2,314 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 Union?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in New Union, Tennessee at today's rate takes a household income of roughly $99,000 a year. That covers the full $2,314 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for New Union, 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.