Total monthly cost of ownership
Cost to Own a Home in Oak Grove (Washington County), Tennessee
A $241,000 home here costs
$1,933per 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 $83,000 a year.
A standard mortgage calculator would have told you $1,314. The real number is $619 higher every month, 47% more than the payment most buyers budget for.
Compare Washington County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Oak Grove (Washington County) from a five-year rolling sample, and with about 4,483 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 Washington 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.
Oak Grove (Washington County) against Washington County and Tennessee
| Measure | Oak Grove (Washington County) | Washington County |
|---|---|---|
| Median home value | $241,100 | $231,700 |
| Median property tax | $1,131 | $1,278 |
| Effective tax rate | 0.469% | 0.552% |
| Median gross rent | $833 | $951 |
| Population | 4,483 | 134,693 |
The weather behind that power bill
Oak Grove (Washington County) sits in Washington County, which averages a high of 86.4°F in its hottest month and a low of 26.3°F in its coldest, with 43.97" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,105 cooling and 4,150 heating degree days, which is what sets the $155 electricity line above.
See the full climate breakdown for Washington County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Washington County
Full Washington County cost breakdown · Every county in Tennessee
Talk to someone who works this market
These are Oak Grove (Washington County) 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 Oak Grove (Washington County) every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Oak Grove (Washington County) I already own here and may sell
Common questions
How much does it cost to own a home in Oak Grove (Washington County)?
A $241,000 home in Oak Grove (Washington County), Tennessee costs approximately $1,933 per month with 20% down at 7.24%. That is $1,314 principal and interest, $94 property tax, $101 homeowners insurance, $223 utilities and $201 set aside for maintenance.
What is the property tax rate in Oak Grove (Washington County)?
Oak Grove (Washington County) has an effective property tax rate of 0.469%, based on a median home value of $241,100 and median real estate taxes of $1,131. That is lower than the Washington County average of 0.552%.
What is the average home price in Oak Grove (Washington County)?
The median owner-occupied home value in Oak Grove (Washington County), Tennessee is $241,100, against $231,700 across Washington County.
Is it cheaper to rent or buy in Oak Grove (Washington County)?
Median gross rent in Oak Grove (Washington County) is $833 a month, against $1,933 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 Oak Grove (Washington County)?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Oak Grove (Washington County), Tennessee at today's rate takes a household income of roughly $83,000 a year. That covers the full $1,933 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Oak Grove (Washington County), 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.