Total monthly cost of ownership
Cost to Own a Home in Olivet, Tennessee
A $136,000 home here costs
$1,118per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $699. The real number is $419 higher every month — 60% 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.
Olivet against Hardin County and Tennessee
| Measure | Olivet | Hardin County |
|---|---|---|
| Median home value | $136,400 | $154,000 |
| Median property tax | $608 | $666 |
| Effective tax rate | 0.446% | 0.432% |
| Median gross rent | $767 | $770 |
| Population | 1,609 | 26,939 |
The weather behind that power bill
Olivet sits in Hardin County, which averages a high of 91.3°F in its hottest month and a low of 30.3°F in its coldest, with 59.18" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,930 cooling and 3,157 heating degree days, which is what sets the $130 electricity line above.
See the full climate breakdown for Hardin County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Hardin County
Full Hardin County cost breakdown · Every county in Tennessee
Common questions
How much does it cost to own a home in Olivet?
A $136,000 home in Olivet, Tennessee costs approximately $1,118 per month with 20% down at 6.66%. That is $699 principal and interest, $51 property tax, $57 homeowners insurance, $198 utilities and $113 set aside for maintenance.
What is the property tax rate in Olivet?
Olivet has an effective property tax rate of 0.446%, based on a median home value of $136,400 and median real estate taxes of $608. That is higher than the Hardin County average of 0.432%.
What is the average home price in Olivet?
The median owner-occupied home value in Olivet, Tennessee is $136,400, against $154,000 across Hardin County.
Is it cheaper to rent or buy in Olivet?
Median gross rent in Olivet is $767 a month, against $1,118 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 Olivet — 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.