The typical owner-occupied home in Scotts Hill is worth about $113,500, 60% below the Tennessee median of $286,700 and 66% below the national median of $332,700. Owners pay a median $625 a year in property taxes, about 0.55% of their home's value, higher than the Tennessee rate of 0.50%. The median household earns $37,809 a year, so the median home costs 3.0 times the median income (4.1 times for Tennessee). 60% of occupied homes here are lived in by their owners, and 45% of those owners still have a mortgage.
Scotts Hill at a glance
| Scotts Hill | Tennessee | U.S. | |
|---|---|---|---|
| Median home value | $113,500 | $286,700 | $332,700 |
| Median property tax paid per year | $625 | $1,442 | $3,119 |
| Property tax as a share of value | 0.55% | 0.50% | 0.94% |
| Median household income | $37,809 | $69,595 | $80,734 |
| Homes lived in by their owners | 60% | 67% | 65% |
| Owner homes with a mortgage | 45% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $863 | $1,566 | $1,963 |
| Those costs as a share of the owners' income | 35.0% | 19.6% | 21.0% |
| Median rent | $629 | $1,189 | $1,413 |
| Rent as a share of renters' income | 35.5% | 29.5% | 30.6% |
| Median year homes were built | 1987 | 1987 | 1980 |
| Vacant homes | 11.5% | 10.2% | 10.1% |
| Population | 1,083 | 7,066,383 | 334,922,499 |
What a typical home costs per month in Scotts Hill
At this week's average 30-year rate of 7.11%, buying the median Scotts Hill home of $113,500 with 20% down costs about $710 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $899, 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 $30,434 for the 20%-down payment. That payment is 23% of the median Scotts Hill household income of $37,809; at that income and 20% down, the 28% guideline points to a home of about $141,000.
The median rent here is $629 a month, so owning the median home costs about $81 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $22,700 |
|---|---|
| Loan amount | $90,800 |
| Principal and interest | $611 |
| Property taxes (0.55% a year) | $52 |
| Homeowners insurance (our estimate, 0.5% a year) | $47 |
| PMI | $0 |
| Total per month | $710 |
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| Down payment | $3,972 |
|---|---|
| Loan amount | $111,444 |
| Principal and interest | $750 |
| Property taxes (0.55% a year) | $52 |
| Homeowners insurance (our estimate, 0.5% a year) | $47 |
| FHA mortgage insurance | $50 |
| Total per month | $899 |
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Questions about home buying in Scotts Hill
What is the median home value in Scotts Hill?
About $113,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Scotts Hill?
Homeowners pay a median $625 a year, which is about 0.55% 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 Scotts Hill?
For the median home with 20% down at 7.11%, the payment is about $710 a month. Keeping that under 28% of gross income takes about $30,434 a year.
More about Scotts Hill
- Mortgage Refinance in Scotts Hill
- Debt Relief in Scotts Hill
- Home Equity Loans in Scotts Hill
- 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