The typical owner-occupied home in Meigs County is worth about $180,000, 37% below the Tennessee median of $286,700 and 46% below the national median of $332,700. Owners pay a median $693 a year in property taxes, about 0.38% of their home's value, lower than the Tennessee rate of 0.50%. The median household earns $61,375 a year, so the median home costs 2.9 times the median income (4.1 times for Tennessee). 81% of occupied homes here are lived in by their owners, and 38% of those owners still have a mortgage.
Meigs County at a glance
| Meigs County | Tennessee | U.S. | |
|---|---|---|---|
| Median home value | $180,000 | $286,700 | $332,700 |
| Median property tax paid per year | $693 | $1,442 | $3,119 |
| Property tax as a share of value | 0.38% | 0.50% | 0.94% |
| Median household income | $61,375 | $69,595 | $80,734 |
| Homes lived in by their owners | 81% | 67% | 65% |
| Owner homes with a mortgage | 38% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,494 | $1,566 | $1,963 |
| Those costs as a share of the owners' income | 20.0% | 19.6% | 21.0% |
| Median rent | $875 | $1,189 | $1,413 |
| Rent as a share of renters' income | 21.5% | 29.5% | 30.6% |
| Median year homes were built | 1994 | 1987 | 1980 |
| Vacant homes | 16.6% | 10.2% | 10.1% |
| Population | 13,343 | 7,066,383 | 334,922,499 |
What a typical home costs per month in Meigs County
At this week's average 30-year rate of 7.11%, buying the median Meigs County home of $180,000 with 20% down costs about $1,101 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,401, 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 $47,173 for the 20%-down payment. That payment is 22% of the median Meigs County household income of $61,375; at that income and 20% down, the 28% guideline points to a home of about $234,000.
The median rent here is $875 a month, so owning the median home costs about $226 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $36,000 |
|---|---|
| Loan amount | $144,000 |
| Principal and interest | $969 |
| Property taxes (0.38% a year) | $57 |
| Homeowners insurance (our estimate, 0.5% a year) | $75 |
| PMI | $0 |
| Total per month | $1,101 |
Change the numbers in the calculator
| Down payment | $6,300 |
|---|---|
| Loan amount | $176,740 |
| Principal and interest | $1,189 |
| Property taxes (0.38% a year) | $57 |
| Homeowners insurance (our estimate, 0.5% a year) | $75 |
| FHA mortgage insurance | $80 |
| Total per month | $1,401 |
Change the numbers in the calculator
Questions about home buying in Meigs County
What is the median home value in Meigs County?
About $180,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Meigs County?
Homeowners pay a median $693 a year, which is about 0.38% 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 Meigs County?
For the median home with 20% down at 7.11%, the payment is about $1,101 a month. Keeping that under 28% of gross income takes about $47,173 a year.
More about Meigs County
- Mortgage Refinance in Meigs County
- Debt Relief in Meigs County
- Home Equity Loans in Meigs County
- 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