The typical owner-occupied home in Ooltewah is worth about $240,900, 16% below the Tennessee median of $286,700 and 28% below the national median of $332,700. Owners pay a median $879 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 $62,292 a year, so the median home costs 3.9 times the median income (4.1 times for Tennessee). 64% of occupied homes here are lived in by their owners, and 50% of those owners still have a mortgage.
Ooltewah at a glance
| Ooltewah | Tennessee | U.S. | |
|---|---|---|---|
| Median home value | $240,900 | $286,700 | $332,700 |
| Median property tax paid per year | $879 | $1,442 | $3,119 |
| Property tax as a share of value | 0.36% | 0.50% | 0.94% |
| Median household income | $62,292 | $69,595 | $80,734 |
| Homes lived in by their owners | 64% | 67% | 65% |
| Owner homes with a mortgage | 50% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $924 | $1,566 | $1,963 |
| Those costs as a share of the owners' income | 19.2% | 19.6% | 21.0% |
| Median rent | $1,717 | $1,189 | $1,413 |
| Rent as a share of renters' income | 20.7% | 29.5% | 30.6% |
| Median year homes were built | 1975 | 1987 | 1980 |
| Vacant homes | 14.7% | 10.2% | 10.1% |
| Population | 578 | 7,066,383 | 334,922,499 |
What a typical home costs per month in Ooltewah
At this week's average 30-year rate of 7.11%, buying the median Ooltewah home of $240,900 with 20% down costs about $1,469 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,870, 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 $62,961 for the 20%-down payment. That payment is 28% of the median Ooltewah household income of $62,292; at that income and 20% down, the 28% guideline points to a home of about $238,000.
The median rent here is $1,717 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $48,180 |
|---|---|
| Loan amount | $192,720 |
| Principal and interest | $1,296 |
| Property taxes (0.36% a year) | $72 |
| Homeowners insurance (our estimate, 0.5% a year) | $100 |
| PMI | $0 |
| Total per month | $1,469 |
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| Down payment | $8,432 |
|---|---|
| Loan amount | $236,537 |
| Principal and interest | $1,591 |
| Property taxes (0.36% a year) | $72 |
| Homeowners insurance (our estimate, 0.5% a year) | $100 |
| FHA mortgage insurance | $107 |
| Total per month | $1,870 |
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Questions about home buying in Ooltewah
What is the median home value in Ooltewah?
About $240,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Ooltewah?
Homeowners pay a median $879 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 Ooltewah?
For the median home with 20% down at 7.11%, the payment is about $1,469 a month. Keeping that under 28% of gross income takes about $62,961 a year.
More about Ooltewah
- Mortgage Refinance in Ooltewah
- Debt Relief in Ooltewah
- Home Equity Loans in Ooltewah
- 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