The typical owner-occupied home in Buchanan is worth about $216,700, 24% below the Tennessee median of $286,700 and 35% below the national median of $332,700. 78% of occupied homes here are lived in by their owners, and 75% of those owners still have a mortgage.
Buchanan at a glance
| Buchanan | Tennessee | U.S. | |
|---|---|---|---|
| Median home value | $216,700 | $286,700 | $332,700 |
| Median property tax paid per year | – | $1,442 | $3,119 |
| Median household income | – | $69,595 | $80,734 |
| Homes lived in by their owners | 78% | 67% | 65% |
| Owner homes with a mortgage | 75% | 58% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,566 | $1,963 |
| Median rent | – | $1,189 | $1,413 |
| Median year homes were built | 1993 | 1987 | 1980 |
| Vacant homes | 0.0% | 10.2% | 10.1% |
| Population | 105 | 7,066,383 | 334,922,499 |
What a typical home costs per month in Buchanan
At this week's average 30-year rate of 7.11%, buying the median Buchanan home of $216,700 with 20% down costs about $1,455 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,816, 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 $62,363 for the 20%-down payment.
| Down payment | $43,340 |
|---|---|
| Loan amount | $173,360 |
| Principal and interest | $1,166 |
| Property taxes (1.10% a year) | $199 |
| Homeowners insurance (our estimate, 0.5% a year) | $90 |
| PMI | $0 |
| Total per month | $1,455 |
Change the numbers in the calculator
| Down payment | $7,584 |
|---|---|
| Loan amount | $212,775 |
| Principal and interest | $1,431 |
| Property taxes (1.10% a year) | $199 |
| Homeowners insurance (our estimate, 0.5% a year) | $90 |
| FHA mortgage insurance | $96 |
| Total per month | $1,816 |
Change the numbers in the calculator
Questions about home buying in Buchanan
What is the median home value in Buchanan?
About $216,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Buchanan?
For the median home with 20% down at 7.11%, the payment is about $1,455 a month. Keeping that under 28% of gross income takes about $62,363 a year.
More about Buchanan
- Mortgage Refinance in Buchanan
- Debt Relief in Buchanan
- Home Equity Loans in Buchanan
- 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