The typical owner-occupied home in Pelham is worth about $187,500, 35% below the Tennessee median of $286,700 and 44% below the national median of $332,700. Owners pay a median $1,004 a year in property taxes, about 0.54% of their home's value, higher than the Tennessee rate of 0.50%. The median household earns $70,096 a year, so the median home costs 2.7 times the median income (4.1 times for Tennessee). 94% of occupied homes here are lived in by their owners, and 35% of those owners still have a mortgage.
Pelham at a glance
| Pelham | Tennessee | U.S. | |
|---|---|---|---|
| Median home value | $187,500 | $286,700 | $332,700 |
| Median property tax paid per year | $1,004 | $1,442 | $3,119 |
| Property tax as a share of value | 0.54% | 0.50% | 0.94% |
| Median household income | $70,096 | $69,595 | $80,734 |
| Homes lived in by their owners | 94% | 67% | 65% |
| Owner homes with a mortgage | 35% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,348 | $1,566 | $1,963 |
| Those costs as a share of the owners' income | 9.0% | 19.6% | 21.0% |
| Median rent | – | $1,189 | $1,413 |
| Median year homes were built | 1978 | 1987 | 1980 |
| Vacant homes | 4.7% | 10.2% | 10.1% |
| Population | 704 | 7,066,383 | 334,922,499 |
What a typical home costs per month in Pelham
At this week's average 30-year rate of 7.11%, buying the median Pelham home of $187,500 with 20% down costs about $1,172 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,484, 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 $50,210 for the 20%-down payment. That payment is 20% of the median Pelham household income of $70,096; at that income and 20% down, the 28% guideline points to a home of about $262,000.
| Down payment | $37,500 |
|---|---|
| Loan amount | $150,000 |
| Principal and interest | $1,009 |
| Property taxes (0.54% a year) | $84 |
| Homeowners insurance (our estimate, 0.5% a year) | $78 |
| PMI | $0 |
| Total per month | $1,172 |
Change the numbers in the calculator
| Down payment | $6,562 |
|---|---|
| Loan amount | $184,104 |
| Principal and interest | $1,238 |
| Property taxes (0.54% a year) | $84 |
| Homeowners insurance (our estimate, 0.5% a year) | $78 |
| FHA mortgage insurance | $83 |
| Total per month | $1,484 |
Change the numbers in the calculator
Questions about home buying in Pelham
What is the median home value in Pelham?
About $187,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Pelham?
Homeowners pay a median $1,004 a year, which is about 0.54% 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 Pelham?
For the median home with 20% down at 7.11%, the payment is about $1,172 a month. Keeping that under 28% of gross income takes about $50,210 a year.
More about Pelham
- Mortgage Refinance in Pelham
- Debt Relief in Pelham
- Home Equity Loans in Pelham
- 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