Total monthly cost of ownership
Cost to Own a Home in Ridgetop, Tennessee
A $301,000 home here costs
$2,415per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $103,500 a year.
A standard mortgage calculator would have told you $1,667. The real number is $748 higher every month, 45% more than the payment most buyers budget for.
Compare Davidson County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Ridgetop from a five-year rolling sample, and with about 2,198 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 Davidson 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.
Ridgetop against Davidson County and Tennessee
| Measure | Ridgetop | Davidson County |
|---|---|---|
| Median home value | $301,300 | $386,600 |
| Median property tax | $1,734 | $2,390 |
| Effective tax rate | 0.576% | 0.618% |
| Median gross rent | $1,179 | $1,485 |
| Population | 2,198 | 709,846 |
Ridgetop extends across 2 counties. Figures here use Davidson County, where most of its housing sits.
The weather behind that power bill
Ridgetop 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 $158 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
Talk to someone who works this market
These are Ridgetop 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 Ridgetop every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Ridgetop I already own here and may sell
Common questions
How much does it cost to own a home in Ridgetop?
A $301,000 home in Ridgetop, Tennessee costs approximately $2,415 per month with 20% down at 7.4%. That is $1,667 principal and interest, $144 property tax, $127 homeowners insurance, $226 utilities and $251 set aside for maintenance.
What is the property tax rate in Ridgetop?
Ridgetop has an effective property tax rate of 0.576%, based on a median home value of $301,300 and median real estate taxes of $1,734. That is lower than the Davidson County average of 0.618%.
What is the average home price in Ridgetop?
The median owner-occupied home value in Ridgetop, Tennessee is $301,300, against $386,600 across Davidson County.
Is it cheaper to rent or buy in Ridgetop?
Median gross rent in Ridgetop is $1,179 a month, against $2,415 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 Ridgetop?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Ridgetop, Tennessee at today's rate takes a household income of roughly $103,500 a year. That covers the full $2,415 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Ridgetop, 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.