The typical owner-occupied home in Fayetteville is worth about $230,800, 19% below the Tennessee median of $286,700 and 31% below the national median of $332,700. Owners pay a median $1,302 a year in property taxes, about 0.56% of their home's value, higher than the Tennessee rate of 0.50%. The median household earns $49,223 a year, so the median home costs 4.7 times the median income (4.1 times for Tennessee). 49% of occupied homes here are lived in by their owners, and 58% of those owners still have a mortgage.
Fayetteville at a glance
| Fayetteville | Tennessee | U.S. | |
|---|---|---|---|
| Median home value | $230,800 | $286,700 | $332,700 |
| Median property tax paid per year | $1,302 | $1,442 | $3,119 |
| Property tax as a share of value | 0.56% | 0.50% | 0.94% |
| Median household income | $49,223 | $69,595 | $80,734 |
| Homes lived in by their owners | 49% | 67% | 65% |
| Owner homes with a mortgage | 58% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,413 | $1,566 | $1,963 |
| Those costs as a share of the owners' income | 20.3% | 19.6% | 21.0% |
| Median rent | $779 | $1,189 | $1,413 |
| Rent as a share of renters' income | 30.6% | 29.5% | 30.6% |
| Median year homes were built | 1964 | 1987 | 1980 |
| Vacant homes | 7.0% | 10.2% | 10.1% |
| Population | 7,057 | 7,066,383 | 334,922,499 |
What a typical home costs per month in Fayetteville
At this week's average 30-year rate of 7.11%, buying the median Fayetteville home of $230,800 with 20% down costs about $1,446 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,830, 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 $61,970 for the 20%-down payment. That payment is 35% of the median Fayetteville household income of $49,223; at that income and 20% down, the 28% guideline points to a home of about $183,000.
The median rent here is $779 a month, so owning the median home costs about $667 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $46,160 |
|---|---|
| Loan amount | $184,640 |
| Principal and interest | $1,242 |
| Property taxes (0.56% a year) | $108 |
| Homeowners insurance (our estimate, 0.5% a year) | $96 |
| PMI | $0 |
| Total per month | $1,446 |
Change the numbers in the calculator
| Down payment | $8,078 |
|---|---|
| Loan amount | $226,620 |
| Principal and interest | $1,524 |
| Property taxes (0.56% a year) | $108 |
| Homeowners insurance (our estimate, 0.5% a year) | $96 |
| FHA mortgage insurance | $102 |
| Total per month | $1,830 |
Change the numbers in the calculator
Questions about home buying in Fayetteville
What is the median home value in Fayetteville?
About $230,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Fayetteville?
Homeowners pay a median $1,302 a year, which is about 0.56% 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 Fayetteville?
For the median home with 20% down at 7.11%, the payment is about $1,446 a month. Keeping that under 28% of gross income takes about $61,970 a year.
More about Fayetteville
- Mortgage Refinance in Fayetteville
- Debt Relief in Fayetteville
- Home Equity Loans in Fayetteville
- 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