The typical owner-occupied home in Coalfield is worth about $190,200, 34% below the Tennessee median of $286,700 and 43% below the national median of $332,700. Owners pay a median $1,048 a year in property taxes, about 0.55% of their home's value, higher than the Tennessee rate of 0.50%. The median household earns $90,104 a year, so the median home costs 2.1 times the median income (4.1 times for Tennessee). 89% of occupied homes here are lived in by their owners, and 49% of those owners still have a mortgage.
Coalfield at a glance
| Coalfield | Tennessee | U.S. | |
|---|---|---|---|
| Median home value | $190,200 | $286,700 | $332,700 |
| Median property tax paid per year | $1,048 | $1,442 | $3,119 |
| Property tax as a share of value | 0.55% | 0.50% | 0.94% |
| Median household income | $90,104 | $69,595 | $80,734 |
| Homes lived in by their owners | 89% | 67% | 65% |
| Owner homes with a mortgage | 49% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,510 | $1,566 | $1,963 |
| Those costs as a share of the owners' income | 14.8% | 19.6% | 21.0% |
| Median rent | – | $1,189 | $1,413 |
| Median year homes were built | 1993 | 1987 | 1980 |
| Vacant homes | 14.4% | 10.2% | 10.1% |
| Population | 2,754 | 7,066,383 | 334,922,499 |
What a typical home costs per month in Coalfield
At this week's average 30-year rate of 7.11%, buying the median Coalfield home of $190,200 with 20% down costs about $1,190 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,507, 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 $51,001 for the 20%-down payment. That payment is 16% of the median Coalfield household income of $90,104; at that income and 20% down, the 28% guideline points to a home of about $336,000.
| Down payment | $38,040 |
|---|---|
| Loan amount | $152,160 |
| Principal and interest | $1,024 |
| Property taxes (0.55% a year) | $87 |
| Homeowners insurance (our estimate, 0.5% a year) | $79 |
| PMI | $0 |
| Total per month | $1,190 |
Change the numbers in the calculator
| Down payment | $6,657 |
|---|---|
| Loan amount | $186,755 |
| Principal and interest | $1,256 |
| Property taxes (0.55% a year) | $87 |
| Homeowners insurance (our estimate, 0.5% a year) | $79 |
| FHA mortgage insurance | $84 |
| Total per month | $1,507 |
Change the numbers in the calculator
Questions about home buying in Coalfield
What is the median home value in Coalfield?
About $190,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Coalfield?
Homeowners pay a median $1,048 a year, which is about 0.55% 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 Coalfield?
For the median home with 20% down at 7.11%, the payment is about $1,190 a month. Keeping that under 28% of gross income takes about $51,001 a year.
More about Coalfield
- Mortgage Refinance in Coalfield
- Debt Relief in Coalfield
- Home Equity Loans in Coalfield
- 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