Total monthly cost of ownership
Cost to Own a Home in Spurgeon, Tennessee
A $198,000 home here costs
$1,639per 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 $70,000 a year.
A standard mortgage calculator would have told you $1,079. The real number is $559 higher every month, 52% more than the payment most buyers budget for.
Compare Sullivan County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Spurgeon from a five-year rolling sample, and with about 3,749 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 Sullivan 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.
Spurgeon against Sullivan County and Tennessee
| Measure | Spurgeon | Sullivan County |
|---|---|---|
| Median home value | $197,500 | $190,800 |
| Median property tax | $1,053 | $1,205 |
| Effective tax rate | 0.533% | 0.632% |
| Median gross rent | $796 | $850 |
| Population | 3,749 | 159,693 |
Spurgeon extends across 2 counties. Figures here use Sullivan County, where most of its housing sits.
The weather behind that power bill
Spurgeon sits in Sullivan 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 Sullivan County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Sullivan County
Full Sullivan County cost breakdown · Every county in Tennessee
Talk to someone who works this market
These are Spurgeon 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 Spurgeon every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Spurgeon I already own here and may sell
Common questions
How much does it cost to own a home in Spurgeon?
A $198,000 home in Spurgeon, Tennessee costs approximately $1,639 per month with 20% down at 7.24%. That is $1,079 principal and interest, $88 property tax, $83 homeowners insurance, $223 utilities and $165 set aside for maintenance.
What is the property tax rate in Spurgeon?
Spurgeon has an effective property tax rate of 0.533%, based on a median home value of $197,500 and median real estate taxes of $1,053. That is lower than the Sullivan County average of 0.632%.
What is the average home price in Spurgeon?
The median owner-occupied home value in Spurgeon, Tennessee is $197,500, against $190,800 across Sullivan County.
Is it cheaper to rent or buy in Spurgeon?
Median gross rent in Spurgeon is $796 a month, against $1,639 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 Spurgeon?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Spurgeon, Tennessee at today's rate takes a household income of roughly $70,000 a year. That covers the full $1,639 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Spurgeon, 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.