The typical owner-occupied home in Bolivar is worth about $150,200, 48% below the Tennessee median of $286,700 and 55% below the national median of $332,700. Owners pay a median $771 a year in property taxes, about 0.51% of their home's value, close to the Tennessee rate of 0.50%. The median household earns $39,028 a year, so the median home costs 3.8 times the median income (4.1 times for Tennessee). 57% of occupied homes here are lived in by their owners, and 72% of those owners still have a mortgage.
Bolivar at a glance
| Bolivar | Tennessee | U.S. | |
|---|---|---|---|
| Median home value | $150,200 | $286,700 | $332,700 |
| Median property tax paid per year | $771 | $1,442 | $3,119 |
| Property tax as a share of value | 0.51% | 0.50% | 0.94% |
| Median household income | $39,028 | $69,595 | $80,734 |
| Homes lived in by their owners | 57% | 67% | 65% |
| Owner homes with a mortgage | 72% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,096 | $1,566 | $1,963 |
| Those costs as a share of the owners' income | 21.8% | 19.6% | 21.0% |
| Median rent | $808 | $1,189 | $1,413 |
| Rent as a share of renters' income | 32.7% | 29.5% | 30.6% |
| Median year homes were built | 1981 | 1987 | 1980 |
| Vacant homes | 6.9% | 10.2% | 10.1% |
| Population | 5,144 | 7,066,383 | 334,922,499 |
What a typical home costs per month in Bolivar
At this week's average 30-year rate of 7.11%, buying the median Bolivar home of $150,200 with 20% down costs about $935 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,185, 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 $40,060 for the 20%-down payment. That payment is 29% of the median Bolivar household income of $39,028; at that income and 20% down, the 28% guideline points to a home of about $146,000.
The median rent here is $808 a month, so owning the median home costs about $127 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $30,040 |
|---|---|
| Loan amount | $120,160 |
| Principal and interest | $808 |
| Property taxes (0.51% a year) | $64 |
| Homeowners insurance (our estimate, 0.5% a year) | $63 |
| PMI | $0 |
| Total per month | $935 |
Change the numbers in the calculator
| Down payment | $5,257 |
|---|---|
| Loan amount | $147,480 |
| Principal and interest | $992 |
| Property taxes (0.51% a year) | $64 |
| Homeowners insurance (our estimate, 0.5% a year) | $63 |
| FHA mortgage insurance | $66 |
| Total per month | $1,185 |
Change the numbers in the calculator
Questions about home buying in Bolivar
What is the median home value in Bolivar?
About $150,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Bolivar?
Homeowners pay a median $771 a year, which is about 0.51% 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 Bolivar?
For the median home with 20% down at 7.11%, the payment is about $935 a month. Keeping that under 28% of gross income takes about $40,060 a year.
More about Bolivar
- Mortgage Refinance in Bolivar
- Debt Relief in Bolivar
- Home Equity Loans in Bolivar
- 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