The typical owner-occupied home in Nashville is worth about $294,900, 35% above the Indiana median of $218,200 and 11% below the national median of $332,700. Owners pay a median $1,274 a year in property taxes, about 0.43% of their home's value, lower than the Indiana rate of 0.74%. The median household earns $51,638 a year, so the median home costs 5.7 times the median income (3.0 times for Indiana). 60% of occupied homes here are lived in by their owners, and 67% of those owners still have a mortgage.
Nashville at a glance
| Nashville | Indiana | U.S. | |
|---|---|---|---|
| Median home value | $294,900 | $218,200 | $332,700 |
| Median property tax paid per year | $1,274 | $1,614 | $3,119 |
| Property tax as a share of value | 0.43% | 0.74% | 0.94% |
| Median household income | $51,638 | $71,957 | $80,734 |
| Homes lived in by their owners | 60% | 71% | 65% |
| Owner homes with a mortgage | 67% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,178 | $1,404 | $1,963 |
| Those costs as a share of the owners' income | 18.4% | 18.1% | 21.0% |
| Median rent | $822 | $1,062 | $1,413 |
| Rent as a share of renters' income | 26.1% | 29.1% | 30.6% |
| Median year homes were built | 1979 | 1976 | 1980 |
| Vacant homes | 8.2% | 8.8% | 10.1% |
| Population | 1,386 | 6,851,073 | 334,922,499 |
What a typical home costs per month in Nashville
At this week's average 30-year rate of 7.11%, buying the median Nashville home of $294,900 with 20% down costs about $1,816 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,307, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $77,811 for the 20%-down payment. That payment is 42% of the median Nashville household income of $51,638; at that income and 20% down, the 28% guideline points to a home of about $196,000.
The median rent here is $822 a month, so owning the median home costs about $994 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $58,980 |
|---|---|
| Loan amount | $235,920 |
| Principal and interest | $1,587 |
| Property taxes (0.43% a year) | $106 |
| Homeowners insurance (our estimate, 0.5% a year) | $123 |
| PMI | $0 |
| Total per month | $1,816 |
Change the numbers in the calculator
| Down payment | $10,322 |
|---|---|
| Loan amount | $289,559 |
| Principal and interest | $1,948 |
| Property taxes (0.43% a year) | $106 |
| Homeowners insurance (our estimate, 0.5% a year) | $123 |
| FHA mortgage insurance | $130 |
| Total per month | $2,307 |
Change the numbers in the calculator
Questions about home buying in Nashville
What is the median home value in Nashville?
About $294,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Nashville?
Homeowners pay a median $1,274 a year, which is about 0.43% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Nashville?
For the median home with 20% down at 7.11%, the payment is about $1,816 a month. Keeping that under 28% of gross income takes about $77,811 a year.
More about Nashville
- Mortgage Refinance in Nashville
- Debt Relief in Nashville
- Home Equity Loans in Nashville
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data