The typical owner-occupied home in Clay County is worth about $136,400, 52% below the Tennessee median of $286,700 and 59% below the national median of $332,700. Owners pay a median $769 a year in property taxes, about 0.56% of their home's value, higher than the Tennessee rate of 0.50%. The median household earns $39,972 a year, so the median home costs 3.4 times the median income (4.1 times for Tennessee). 74% of occupied homes here are lived in by their owners, and 28% of those owners still have a mortgage.
Clay County at a glance
| Clay County | Tennessee | U.S. | |
|---|---|---|---|
| Median home value | $136,400 | $286,700 | $332,700 |
| Median property tax paid per year | $769 | $1,442 | $3,119 |
| Property tax as a share of value | 0.56% | 0.50% | 0.94% |
| Median household income | $39,972 | $69,595 | $80,734 |
| Homes lived in by their owners | 74% | 67% | 65% |
| Owner homes with a mortgage | 28% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,291 | $1,566 | $1,963 |
| Those costs as a share of the owners' income | 24.3% | 19.6% | 21.0% |
| Median rent | $557 | $1,189 | $1,413 |
| Rent as a share of renters' income | 23.0% | 29.5% | 30.6% |
| Median year homes were built | 1985 | 1987 | 1980 |
| Vacant homes | 13.0% | 10.2% | 10.1% |
| Population | 7,670 | 7,066,383 | 334,922,499 |
What a typical home costs per month in Clay County
At this week's average 30-year rate of 7.11%, buying the median Clay County home of $136,400 with 20% down costs about $855 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,082, 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 $36,624 for the 20%-down payment. That payment is 26% of the median Clay County household income of $39,972; at that income and 20% down, the 28% guideline points to a home of about $149,000.
The median rent here is $557 a month, so owning the median home costs about $298 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $27,280 |
|---|---|
| Loan amount | $109,120 |
| Principal and interest | $734 |
| Property taxes (0.56% a year) | $64 |
| Homeowners insurance (our estimate, 0.5% a year) | $57 |
| PMI | $0 |
| Total per month | $855 |
Change the numbers in the calculator
| Down payment | $4,774 |
|---|---|
| Loan amount | $133,929 |
| Principal and interest | $901 |
| Property taxes (0.56% a year) | $64 |
| Homeowners insurance (our estimate, 0.5% a year) | $57 |
| FHA mortgage insurance | $60 |
| Total per month | $1,082 |
Change the numbers in the calculator
Questions about home buying in Clay County
What is the median home value in Clay County?
About $136,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Clay County?
Homeowners pay a median $769 a year, which is about 0.56% 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 Clay County?
For the median home with 20% down at 7.11%, the payment is about $855 a month. Keeping that under 28% of gross income takes about $36,624 a year.
More about Clay County
- Mortgage Refinance in Clay County
- Debt Relief in Clay County
- Home Equity Loans in Clay County
- 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