The typical owner-occupied home in Chattanooga is worth about $113,700, 43% below the Oklahoma median of $199,800 and 66% below the national median of $332,700. Owners pay a median $777 a year in property taxes, about 0.68% of their home's value, lower than the Oklahoma rate of 0.80%. The median household earns $53,438 a year, so the median home costs 2.1 times the median income (3.1 times for Oklahoma). 71% of occupied homes here are lived in by their owners, and 41% of those owners still have a mortgage.
Chattanooga at a glance
| Chattanooga | Oklahoma | U.S. | |
|---|---|---|---|
| Median home value | $113,700 | $199,800 | $332,700 |
| Median property tax paid per year | $777 | $1,599 | $3,119 |
| Property tax as a share of value | 0.68% | 0.80% | 0.94% |
| Median household income | $53,438 | $65,039 | $80,734 |
| Homes lived in by their owners | 71% | 66% | 65% |
| Owner homes with a mortgage | 41% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $1,111 | $1,539 | $1,963 |
| Those costs as a share of the owners' income | 17.8% | 19.6% | 21.0% |
| Median rent | $819 | $1,014 | $1,413 |
| Rent as a share of renters' income | 24.6% | 28.4% | 30.6% |
| Median year homes were built | 1971 | 1980 | 1980 |
| Vacant homes | 11.6% | 12.0% | 10.1% |
| Population | 406 | 4,028,634 | 334,922,499 |
What a typical home costs per month in Chattanooga
At this week's average 30-year rate of 7.11%, buying the median Chattanooga home of $113,700 with 20% down costs about $724 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $913, 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 $31,016 for the 20%-down payment. That payment is 16% of the median Chattanooga household income of $53,438; at that income and 20% down, the 28% guideline points to a home of about $196,000.
The median rent here is $819 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $22,740 |
|---|---|
| Loan amount | $90,960 |
| Principal and interest | $612 |
| Property taxes (0.68% a year) | $64 |
| Homeowners insurance (our estimate, 0.5% a year) | $47 |
| PMI | $0 |
| Total per month | $724 |
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| Down payment | $3,980 |
|---|---|
| Loan amount | $111,641 |
| Principal and interest | $751 |
| Property taxes (0.68% a year) | $64 |
| Homeowners insurance (our estimate, 0.5% a year) | $47 |
| FHA mortgage insurance | $50 |
| Total per month | $913 |
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Questions about home buying in Chattanooga
What is the median home value in Chattanooga?
About $113,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Chattanooga?
Homeowners pay a median $777 a year, which is about 0.68% 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 Chattanooga?
For the median home with 20% down at 7.11%, the payment is about $724 a month. Keeping that under 28% of gross income takes about $31,016 a year.
More about Chattanooga
- Mortgage Refinance in Chattanooga
- Debt Relief in Chattanooga
- Home Equity Loans in Chattanooga
- 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