The typical owner-occupied home in Normandy is worth about $202,800, 29% below the Tennessee median of $286,700 and 39% below the national median of $332,700. Owners pay a median $740 a year in property taxes, about 0.36% of their home's value, lower than the Tennessee rate of 0.50%. The median household earns $59,792 a year, so the median home costs 3.4 times the median income (4.1 times for Tennessee). 95% of occupied homes here are lived in by their owners, and 35% of those owners still have a mortgage.
Normandy at a glance
| Normandy | Tennessee | U.S. | |
|---|---|---|---|
| Median home value | $202,800 | $286,700 | $332,700 |
| Median property tax paid per year | $740 | $1,442 | $3,119 |
| Property tax as a share of value | 0.36% | 0.50% | 0.94% |
| Median household income | $59,792 | $69,595 | $80,734 |
| Homes lived in by their owners | 95% | 67% | 65% |
| Owner homes with a mortgage | 35% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,063 | $1,566 | $1,963 |
| Those costs as a share of the owners' income | 11.3% | 19.6% | 21.0% |
| Median rent | – | $1,189 | $1,413 |
| Median year homes were built | 1953 | 1987 | 1980 |
| Vacant homes | 8.1% | 10.2% | 10.1% |
| Population | 106 | 7,066,383 | 334,922,499 |
What a typical home costs per month in Normandy
At this week's average 30-year rate of 7.11%, buying the median Normandy home of $202,800 with 20% down costs about $1,237 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,575, 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 $53,003 for the 20%-down payment. That payment is 25% of the median Normandy household income of $59,792; at that income and 20% down, the 28% guideline points to a home of about $229,000.
| Down payment | $40,560 |
|---|---|
| Loan amount | $162,240 |
| Principal and interest | $1,091 |
| Property taxes (0.36% a year) | $61 |
| Homeowners insurance (our estimate, 0.5% a year) | $84 |
| PMI | $0 |
| Total per month | $1,237 |
Change the numbers in the calculator
| Down payment | $7,098 |
|---|---|
| Loan amount | $199,127 |
| Principal and interest | $1,340 |
| Property taxes (0.36% a year) | $61 |
| Homeowners insurance (our estimate, 0.5% a year) | $84 |
| FHA mortgage insurance | $90 |
| Total per month | $1,575 |
Change the numbers in the calculator
Questions about home buying in Normandy
What is the median home value in Normandy?
About $202,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Normandy?
Homeowners pay a median $740 a year, which is about 0.36% 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 Normandy?
For the median home with 20% down at 7.11%, the payment is about $1,237 a month. Keeping that under 28% of gross income takes about $53,003 a year.
More about Normandy
- Mortgage Refinance in Normandy
- Debt Relief in Normandy
- Home Equity Loans in Normandy
- 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