The typical owner-occupied home in Woodland Mills is worth about $140,200, 51% below the Tennessee median of $286,700 and 58% below the national median of $332,700. Owners pay a median $702 a year in property taxes, about 0.50% of their home's value, close to the Tennessee rate of 0.50%. The median household earns $79,145 a year, so the median home costs 1.8 times the median income (4.1 times for Tennessee). 79% of occupied homes here are lived in by their owners, and 54% of those owners still have a mortgage.
Woodland Mills at a glance
| Woodland Mills | Tennessee | U.S. | |
|---|---|---|---|
| Median home value | $140,200 | $286,700 | $332,700 |
| Median property tax paid per year | $702 | $1,442 | $3,119 |
| Property tax as a share of value | 0.50% | 0.50% | 0.94% |
| Median household income | $79,145 | $69,595 | $80,734 |
| Homes lived in by their owners | 79% | 67% | 65% |
| Owner homes with a mortgage | 54% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $972 | $1,566 | $1,963 |
| Those costs as a share of the owners' income | 15.7% | 19.6% | 21.0% |
| Median rent | $876 | $1,189 | $1,413 |
| Rent as a share of renters' income | 14.5% | 29.5% | 30.6% |
| Median year homes were built | 1971 | 1987 | 1980 |
| Vacant homes | 0.0% | 10.2% | 10.1% |
| Population | 624 | 7,066,383 | 334,922,499 |
What a typical home costs per month in Woodland Mills
At this week's average 30-year rate of 7.11%, buying the median Woodland Mills home of $140,200 with 20% down costs about $871 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,105, 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 $37,343 for the 20%-down payment. That payment is 13% of the median Woodland Mills household income of $79,145; at that income and 20% down, the 28% guideline points to a home of about $297,000.
The median rent here is $876 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $28,040 |
|---|---|
| Loan amount | $112,160 |
| Principal and interest | $755 |
| Property taxes (0.50% a year) | $58 |
| Homeowners insurance (our estimate, 0.5% a year) | $58 |
| PMI | $0 |
| Total per month | $871 |
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| Down payment | $4,907 |
|---|---|
| Loan amount | $137,661 |
| Principal and interest | $926 |
| Property taxes (0.50% a year) | $58 |
| Homeowners insurance (our estimate, 0.5% a year) | $58 |
| FHA mortgage insurance | $62 |
| Total per month | $1,105 |
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Questions about home buying in Woodland Mills
What is the median home value in Woodland Mills?
About $140,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Woodland Mills?
Homeowners pay a median $702 a year, which is about 0.50% 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 Woodland Mills?
For the median home with 20% down at 7.11%, the payment is about $871 a month. Keeping that under 28% of gross income takes about $37,343 a year.
More about Woodland Mills
- Mortgage Refinance in Woodland Mills
- Debt Relief in Woodland Mills
- Home Equity Loans in Woodland Mills
- 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