The typical owner-occupied home in Medon is worth about $153,100, 47% below the Tennessee median of $286,700 and 54% below the national median of $332,700. Owners pay a median $753 a year in property taxes, about 0.49% of their home's value, close to the Tennessee rate of 0.50%. The median household earns $71,250 a year, so the median home costs 2.1 times the median income (4.1 times for Tennessee). 94% of occupied homes here are lived in by their owners, and 47% of those owners still have a mortgage.
Medon at a glance
| Medon | Tennessee | U.S. | |
|---|---|---|---|
| Median home value | $153,100 | $286,700 | $332,700 |
| Median property tax paid per year | $753 | $1,442 | $3,119 |
| Property tax as a share of value | 0.49% | 0.50% | 0.94% |
| Median household income | $71,250 | $69,595 | $80,734 |
| Homes lived in by their owners | 94% | 67% | 65% |
| Owner homes with a mortgage | 47% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,292 | $1,566 | $1,963 |
| Those costs as a share of the owners' income | 14.5% | 19.6% | 21.0% |
| Median rent | – | $1,189 | $1,413 |
| Median year homes were built | 1986 | 1987 | 1980 |
| Vacant homes | 10.3% | 10.2% | 10.1% |
| Population | 201 | 7,066,383 | 334,922,499 |
What a typical home costs per month in Medon
At this week's average 30-year rate of 7.11%, buying the median Medon home of $153,100 with 20% down costs about $950 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,205, 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 $40,725 for the 20%-down payment. That payment is 16% of the median Medon household income of $71,250; at that income and 20% down, the 28% guideline points to a home of about $268,000.
| Down payment | $30,620 |
|---|---|
| Loan amount | $122,480 |
| Principal and interest | $824 |
| Property taxes (0.49% a year) | $63 |
| Homeowners insurance (our estimate, 0.5% a year) | $64 |
| PMI | $0 |
| Total per month | $950 |
Change the numbers in the calculator
| Down payment | $5,358 |
|---|---|
| Loan amount | $150,327 |
| Principal and interest | $1,011 |
| Property taxes (0.49% a year) | $63 |
| Homeowners insurance (our estimate, 0.5% a year) | $64 |
| FHA mortgage insurance | $68 |
| Total per month | $1,205 |
Change the numbers in the calculator
Questions about home buying in Medon
What is the median home value in Medon?
About $153,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Medon?
Homeowners pay a median $753 a year, which is about 0.49% 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 Medon?
For the median home with 20% down at 7.11%, the payment is about $950 a month. Keeping that under 28% of gross income takes about $40,725 a year.
More about Medon
- Mortgage Refinance in Medon
- Debt Relief in Medon
- Home Equity Loans in Medon
- 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