The typical owner-occupied home in Lookout Mountain is worth about $855,300, 3.0 times the Tennessee median of $286,700 and 2.6 times the national median of $332,700. Owners pay a median $6,705 a year in property taxes, about 0.78% of their home's value, higher than the Tennessee rate of 0.50%. The median household earns $201,000 a year, so the median home costs 4.3 times the median income (4.1 times for Tennessee). 95% of occupied homes here are lived in by their owners, and 53% of those owners still have a mortgage.
Lookout Mountain at a glance
| Lookout Mountain | Tennessee | U.S. | |
|---|---|---|---|
| Median home value | $855,300 | $286,700 | $332,700 |
| Median property tax paid per year | $6,705 | $1,442 | $3,119 |
| Property tax as a share of value | 0.78% | 0.50% | 0.94% |
| Median household income | $201,000 | $69,595 | $80,734 |
| Homes lived in by their owners | 95% | 67% | 65% |
| Owner homes with a mortgage | 53% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $2,881 | $1,566 | $1,963 |
| Those costs as a share of the owners' income | 14.2% | 19.6% | 21.0% |
| Median rent | $1,428 | $1,189 | $1,413 |
| Rent as a share of renters' income | 20.9% | 29.5% | 30.6% |
| Median year homes were built | 1952 | 1987 | 1980 |
| Vacant homes | 6.2% | 10.2% | 10.1% |
| Population | 2,111 | 7,066,383 | 334,922,499 |
What a typical home costs per month in Lookout Mountain
At this week's average 30-year rate of 7.11%, buying the median Lookout Mountain home of $855,300 with 20% down costs about $5,515 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $7,078, 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 $236,368 for the 20%-down payment. That payment is 33% of the median Lookout Mountain household income of $201,000; at that income and 20% down, the 28% guideline points to a home of about $727,000.
The median rent here is $1,428 a month, so owning the median home costs about $4,087 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $171,060 |
|---|---|
| Loan amount | $684,240 |
| Principal and interest | $4,603 |
| Property taxes (0.78% a year) | $556 |
| Homeowners insurance (our estimate, 0.5% a year) | $356 |
| PMI | $0 |
| Total per month | $5,515 |
Change the numbers in the calculator
| Down payment | $29,936 |
|---|---|
| Loan amount | $839,808 |
| Principal and interest | $5,649 |
| Property taxes (0.78% a year) | $556 |
| Homeowners insurance (our estimate, 0.5% a year) | $356 |
| FHA mortgage insurance | $516 |
| Total per month | $7,078 |
Change the numbers in the calculator
Questions about home buying in Lookout Mountain
What is the median home value in Lookout Mountain?
About $855,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Lookout Mountain?
Homeowners pay a median $6,705 a year, which is about 0.78% 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 Lookout Mountain?
For the median home with 20% down at 7.11%, the payment is about $5,515 a month. Keeping that under 28% of gross income takes about $236,368 a year.
More about Lookout Mountain
- Mortgage Refinance in Lookout Mountain
- Debt Relief in Lookout Mountain
- Home Equity Loans in Lookout Mountain
- 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