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Home Affordability Calculator Nashville, TN — 2026
Median home price in Nashville: $460,000. At 6.5% on a 30-year loan with 20% down, the estimated total monthly payment (PITI) is $2,760 — requiring $118,286/year in gross income. Enter your income below for a personalised estimate.
Reviewed for accuracy June 2026 by Gary Sing
Median home price
$460,000
Income needed (annual)
$118,286
Est. monthly PITI
$2,760
Property tax/month
$261
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How much house can you afford in Nashville at your salary?
Maximum home price at each income level: 6.5% rate, 30-year term, 20% down payment, no existing debt. Property tax (0.68%) and insurance (0.45%) included in the 28% front-end DTI budget.
| Annual income | Max home price | Max monthly budget | Affords Nashville median? |
|---|---|---|---|
| $50,000 | $194,494 | $1,167/mo | ✗ No |
| $75,000 | $291,741 | $1,750/mo | ✗ No |
| $100,000 | $388,988 | $2,333/mo | ✗ No |
| $125,000 | $486,235 | $2,917/mo | ✓ Yes |
| $150,000 | $583,482 | $3,500/mo | ✓ Yes |
| $175,000 | $680,730 | $4,083/mo | ✓ Yes |
| $200,000 | $777,977 | $4,667/mo | ✓ Yes |
Assumes 20% down, 6.5% rate, 30-year term, zero existing monthly debt. Property tax at 0.68% effective rate; insurance estimated at 0.45% annually. PMI required below 20% down — not included here.
Monthly payment breakdown on the median Nashville home
$460,000 purchase price with 20% down ($92,000) at 6.5% on a 30-year loan.
Principal & interest (30yr)
$2,326/month on a $368,000 loan at 6.5% over 30 years. Total interest paid over the life of the loan: $469,360.
Property tax (0.68% effective rate)
$261/month ($3,132/year). Tennessee's effective property tax rate of approximately 0.68% is well below the national average. Combined with no state income tax, Nashville's total ownership cost — despite elevated purchase prices — compares favourably to many Northern markets at similar price points.
Homeowners insurance (est.)
$173/month estimated at 0.45% of home value annually. Rates vary significantly by coverage level, age of home, and local risk factors — always get quotes before closing.
Total PITI (monthly)
$2,760/month estimated. Income needed to keep this under 28% of gross monthly income: $118,286/year. Tennessee has no state income tax — a meaningful take-home pay advantage.
Nashville housing market 2026
Nashville has transformed from a regional music industry town to a top-10 US metro for corporate relocations and healthcare employment, with Vanderbilt, HCA Healthcare, and Bridgestone all headquartered here. The city's price growth has been among the most sustained in the US since 2015. 12 South, East Nashville, and The Gulch command the highest premiums.
Key numbers for Nashville buyers
- Median home price: $460,000 (2026 estimate)
- 20% down payment: $92,000
- Loan amount (80% LTV): $368,000
- Monthly P&I at 6.5% / 30yr: $2,326
- Monthly P&I at 6.5% / 15yr: $3,206
- Est. PITI (P&I + tax + insurance): $2,760/month
- Income needed (28% front-end DTI): $118,286/year
- State income tax: None — meaningful take-home pay advantage
Compare home affordability by city
📍 Los Angeles, CA
Median $900,000 · income needed $244,543/yr · 1.09% tax
📍 Chicago, IL
Median $330,000 · income needed $101,614/yr · 2.1% tax
📍 Houston, TX
Median $290,000 · income needed $89,143/yr · 2.09% tax
📍 Phoenix, AZ
Median $400,000 · income needed $102,429/yr · 0.65% tax
📍 Miami, FL
Median $580,000 · income needed $155,143/yr · 0.97% tax
📍 Seattle, WA
Median $740,000 · income needed $195,257/yr · 0.87% tax
📍 Denver, CO
Median $560,000 · income needed $141,171/yr · 0.54% tax
📍 Austin, TX
Median $525,000 · income needed $161,614/yr · 2.1% tax
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Home affordability Nashville — frequently asked questions
How much house can I afford in Nashville?
On a $100,000 annual income with no other debt, 20% down, and a 6.5% 30-year mortgage, you can afford approximately $388,988 in Nashville. The median home price in Nashville is $460,000, which requires approximately $118,286/year in gross income using the 28% front-end DTI rule (principal, interest, property tax, and insurance all within 28% of gross monthly income).
What income do I need to buy a home in Nashville?
To afford Nashville's median home price of $460,000 at 6.5% on a 30-year loan with 20% down, you need approximately $118,286/year in gross income. This assumes the full PITI payment of $2,760/month (P&I $2,326 + property tax $261 + insurance $173) stays within 28% of gross monthly income. Existing debts reduce this buying power further.
What is the median home price in Nashville in 2026?
The estimated median home price in Nashville in 2026 is approximately $460,000. This varies significantly by neighbourhood — enter the specific purchase price you are evaluating in the calculator above for a personalised estimate.
What are property taxes in Nashville?
Nashville, TN's effective property tax rate is approximately 0.68%. On a $460,000 home, that is roughly $261/month or $3,132/year in property taxes. Tennessee's effective property tax rate of approximately 0.68% is well below the national average. Combined with no state income tax, Nashville's total ownership cost — despite elevated purchase prices — compares favourably to many Northern markets at similar price points.
Is Nashville affordable to buy in 2026?
Nashville's median home price of $460,000 requires an annual gross income of approximately $118,286 to qualify under the 28% front-end DTI rule at 6.5% with 20% down. The estimated total monthly payment (PITI) is $2,760/month. Nashville has transformed from a regional music industry town to a top-10 US metro for corporate relocations and healthcare employment, with Vanderbilt, HCA Healthcare, and Bridgestone all headquartered here.