The typical owner-occupied home in Ardmore is worth about $168,100, 41% below the Tennessee median of $286,700 and 49% below the national median of $332,700. Owners pay a median $855 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 $47,188 a year, so the median home costs 3.6 times the median income (4.1 times for Tennessee). 64% of occupied homes here are lived in by their owners, and 40% of those owners still have a mortgage.
Ardmore at a glance
| Ardmore | Tennessee | U.S. | |
|---|---|---|---|
| Median home value | $168,100 | $286,700 | $332,700 |
| Median property tax paid per year | $855 | $1,442 | $3,119 |
| Property tax as a share of value | 0.51% | 0.50% | 0.94% |
| Median household income | $47,188 | $69,595 | $80,734 |
| Homes lived in by their owners | 64% | 67% | 65% |
| Owner homes with a mortgage | 40% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,035 | $1,566 | $1,963 |
| Those costs as a share of the owners' income | 17.8% | 19.6% | 21.0% |
| Median rent | $871 | $1,189 | $1,413 |
| Rent as a share of renters' income | 26.2% | 29.5% | 30.6% |
| Median year homes were built | 1992 | 1987 | 1980 |
| Vacant homes | 11.9% | 10.2% | 10.1% |
| Population | 1,073 | 7,066,383 | 334,922,499 |
What a typical home costs per month in Ardmore
At this week's average 30-year rate of 7.11%, buying the median Ardmore home of $168,100 with 20% down costs about $1,046 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,326, 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 $44,835 for the 20%-down payment. That payment is 27% of the median Ardmore household income of $47,188; at that income and 20% down, the 28% guideline points to a home of about $177,000.
The median rent here is $871 a month, so owning the median home costs about $175 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $33,620 |
|---|---|
| Loan amount | $134,480 |
| Principal and interest | $905 |
| Property taxes (0.51% a year) | $71 |
| Homeowners insurance (our estimate, 0.5% a year) | $70 |
| PMI | $0 |
| Total per month | $1,046 |
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| Down payment | $5,884 |
|---|---|
| Loan amount | $165,055 |
| Principal and interest | $1,110 |
| Property taxes (0.51% a year) | $71 |
| Homeowners insurance (our estimate, 0.5% a year) | $70 |
| FHA mortgage insurance | $74 |
| Total per month | $1,326 |
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Questions about home buying in Ardmore
What is the median home value in Ardmore?
About $168,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Ardmore?
Homeowners pay a median $855 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 Ardmore?
For the median home with 20% down at 7.11%, the payment is about $1,046 a month. Keeping that under 28% of gross income takes about $44,835 a year.
More about Ardmore
- Mortgage Refinance in Ardmore
- Debt Relief in Ardmore
- Home Equity Loans in Ardmore
- 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