The typical owner-occupied home in Ripley is worth about $154,900, 46% below the Tennessee median of $286,700 and 53% below the national median of $332,700. Owners pay a median $1,171 a year in property taxes, about 0.76% of their home's value, higher than the Tennessee rate of 0.50%. The median household earns $37,432 a year, so the median home costs 4.1 times the median income (4.1 times for Tennessee). 45% of occupied homes here are lived in by their owners, and 49% of those owners still have a mortgage.
Ripley at a glance
| Ripley | Tennessee | U.S. | |
|---|---|---|---|
| Median home value | $154,900 | $286,700 | $332,700 |
| Median property tax paid per year | $1,171 | $1,442 | $3,119 |
| Property tax as a share of value | 0.76% | 0.50% | 0.94% |
| Median household income | $37,432 | $69,595 | $80,734 |
| Homes lived in by their owners | 45% | 67% | 65% |
| Owner homes with a mortgage | 49% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,149 | $1,566 | $1,963 |
| Those costs as a share of the owners' income | 23.4% | 19.6% | 21.0% |
| Median rent | $800 | $1,189 | $1,413 |
| Rent as a share of renters' income | 32.1% | 29.5% | 30.6% |
| Median year homes were built | 1975 | 1987 | 1980 |
| Vacant homes | 16.7% | 10.2% | 10.1% |
| Population | 7,658 | 7,066,383 | 334,922,499 |
What a typical home costs per month in Ripley
At this week's average 30-year rate of 7.11%, buying the median Ripley home of $154,900 with 20% down costs about $996 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,254, 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 $42,697 for the 20%-down payment. That payment is 32% of the median Ripley household income of $37,432; at that income and 20% down, the 28% guideline points to a home of about $136,000.
The median rent here is $800 a month, so owning the median home costs about $196 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $30,980 |
|---|---|
| Loan amount | $123,920 |
| Principal and interest | $834 |
| Property taxes (0.76% a year) | $98 |
| Homeowners insurance (our estimate, 0.5% a year) | $65 |
| PMI | $0 |
| Total per month | $996 |
Change the numbers in the calculator
| Down payment | $5,422 |
|---|---|
| Loan amount | $152,094 |
| Principal and interest | $1,023 |
| Property taxes (0.76% a year) | $98 |
| Homeowners insurance (our estimate, 0.5% a year) | $65 |
| FHA mortgage insurance | $69 |
| Total per month | $1,254 |
Change the numbers in the calculator
Questions about home buying in Ripley
What is the median home value in Ripley?
About $154,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Ripley?
Homeowners pay a median $1,171 a year, which is about 0.76% 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 Ripley?
For the median home with 20% down at 7.11%, the payment is about $996 a month. Keeping that under 28% of gross income takes about $42,697 a year.
More about Ripley
- Mortgage Refinance in Ripley
- Debt Relief in Ripley
- Home Equity Loans in Ripley
- 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