US Real Estate & Mortgage Research Analyst
Published: August 9, 2026 · Updated: August 9, 2026
Key Takeaways for Tennessee
- • Median owner-occupied home value: $286,700 (2024).
- • National rank: #28 highest of 50 states — near the middle of the national range.
- • Higher than 22 other states; $13,250 (4%) below the ~$299,950 U.S. midpoint.
- • Typical property tax on a median-priced home: ~$1,491/year using the state effective rate of 0.52%.
The median owner-occupied home in Tennessee is worth about $286,700, making it near the middle of the national range. Because this is a statewide median, it smooths over big local differences — a home in a major metro can cost far more than one in a rural county.
How Tennessee Compares
The median of the 50 state medians is about $299,950. Tennessee sits below that midpoint by $13,250 — about 4%. Only 27 states have a higher median, and 22 have a lower one.
Typical Property Tax on a Median-Priced Home
$286,700 × 0.52% = ~$1,491/year
That is about $124/month through escrow. This is an illustrative estimate using Tennessee's state-level effective rate on the state median home value — not your actual bill, which depends on your locality, exemptions, and assessed value. For specifics, see our Tennessee Property Tax page.
What This Means for Buyers
A higher home value means a larger mortgage and, usually, more property tax. Use our Mortgage Payment Calculator to turn Tennessee's median price into a full PITI payment, and our Property Tax Calculator for a tax estimate using your own numbers. See the full state-by-state table to compare Tennessee with neighbors.
Sources
U.S. Census Bureau — ACS 2024 5-Year Estimates, table B25077 (compiled by US Data Explorer) — https://usdataexplorer.com/ranking/median-home-value/states
Median value (dollars) of owner-occupied housing units, self-reported estimated market value. 2024 ACS 5-Year release (covers 2020–2024); subject to margin of error.
Retrieved: 2026-08-09.
Explore More
- Median Home Value by State — full table
- Tennessee Property Tax — the effective rate and a worked tax example.
- Property Tax by State — compare rates across all 50 states and DC.
- Mortgage Payment Calculator — turn a price into a full PITI payment.
Frequently Asked Questions
What is the median home value in Tennessee?
Based on 2024 Census ACS 5-Year data (table B25077), the median owner-occupied home value in Tennessee is $286,700, which ranks it #28 highest among the 50 states. That is the midpoint homeowners report — half of homes are worth more, half less.
How does Tennessee compare to the national midpoint?
The median of the 50 state medians is about $299,950. Tennessee sits below that line by $13,250 (about 4%). 22 states have a lower median; 22 have a higher. Remember this is a statewide figure — your city and neighborhood set the local price.
What is the typical property tax on a median-priced home in Tennessee?
Tennessee's effective property tax rate is about 0.52% of home value. Applied to the median home value of $286,700, that is roughly $1,491 per year, or about $124 per month through escrow. This is an illustrative estimate using state-level figures — your actual bill depends on your locality, exemptions, and assessed value. See the full breakdown on our Tennessee Property Tax page.