The typical owner-occupied home in Powell is worth about $299,400, 4% above the Tennessee median of $286,700 and 10% below the national median of $332,700. Owners pay a median $1,041 a year in property taxes, about 0.35% of their home's value, lower than the Tennessee rate of 0.50%. The median household earns $82,434 a year, so the median home costs 3.6 times the median income (4.1 times for Tennessee). 79% of occupied homes here are lived in by their owners, and 64% of those owners still have a mortgage.
Powell at a glance
| Powell | Tennessee | U.S. | |
|---|---|---|---|
| Median home value | $299,400 | $286,700 | $332,700 |
| Median property tax paid per year | $1,041 | $1,442 | $3,119 |
| Property tax as a share of value | 0.35% | 0.50% | 0.94% |
| Median household income | $82,434 | $69,595 | $80,734 |
| Homes lived in by their owners | 79% | 67% | 65% |
| Owner homes with a mortgage | 64% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,521 | $1,566 | $1,963 |
| Those costs as a share of the owners' income | 16.7% | 19.6% | 21.0% |
| Median rent | $1,276 | $1,189 | $1,413 |
| Rent as a share of renters' income | 30.9% | 29.5% | 30.6% |
| Median year homes were built | 1992 | 1987 | 1980 |
| Vacant homes | 5.4% | 10.2% | 10.1% |
| Population | 13,739 | 7,066,383 | 334,922,499 |
What a typical home costs per month in Powell
At this week's average 30-year rate of 7.11%, buying the median Powell home of $299,400 with 20% down costs about $1,823 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,322, 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 $78,144 for the 20%-down payment. That payment is 27% of the median Powell household income of $82,434; at that income and 20% down, the 28% guideline points to a home of about $316,000.
The median rent here is $1,276 a month, so owning the median home costs about $547 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $59,880 |
|---|---|
| Loan amount | $239,520 |
| Principal and interest | $1,611 |
| Property taxes (0.35% a year) | $87 |
| Homeowners insurance (our estimate, 0.5% a year) | $125 |
| PMI | $0 |
| Total per month | $1,823 |
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| Down payment | $10,479 |
|---|---|
| Loan amount | $293,977 |
| Principal and interest | $1,978 |
| Property taxes (0.35% a year) | $87 |
| Homeowners insurance (our estimate, 0.5% a year) | $125 |
| FHA mortgage insurance | $132 |
| Total per month | $2,322 |
Change the numbers in the calculator
Questions about home buying in Powell
What is the median home value in Powell?
About $299,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Powell?
Homeowners pay a median $1,041 a year, which is about 0.35% 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 Powell?
For the median home with 20% down at 7.11%, the payment is about $1,823 a month. Keeping that under 28% of gross income takes about $78,144 a year.
More about Powell
- Mortgage Refinance in Powell
- Debt Relief in Powell
- Home Equity Loans in Powell
- 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