The typical owner-occupied home in Polk County is worth about $169,900, 41% below the Tennessee median of $286,700 and 49% below the national median of $332,700. Owners pay a median $856 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 $62,522 a year, so the median home costs 2.7 times the median income (4.1 times for Tennessee). 84% of occupied homes here are lived in by their owners, and 40% of those owners still have a mortgage.
Polk County at a glance
| Polk County | Tennessee | U.S. | |
|---|---|---|---|
| Median home value | $169,900 | $286,700 | $332,700 |
| Median property tax paid per year | $856 | $1,442 | $3,119 |
| Property tax as a share of value | 0.50% | 0.50% | 0.94% |
| Median household income | $62,522 | $69,595 | $80,734 |
| Homes lived in by their owners | 84% | 67% | 65% |
| Owner homes with a mortgage | 40% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,290 | $1,566 | $1,963 |
| Those costs as a share of the owners' income | 17.1% | 19.6% | 21.0% |
| Median rent | $676 | $1,189 | $1,413 |
| Rent as a share of renters' income | 29.7% | 29.5% | 30.6% |
| Median year homes were built | 1988 | 1987 | 1980 |
| Vacant homes | 18.1% | 10.2% | 10.1% |
| Population | 17,898 | 7,066,383 | 334,922,499 |
What a typical home costs per month in Polk County
At this week's average 30-year rate of 7.11%, buying the median Polk County home of $169,900 with 20% down costs about $1,056 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,339, 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 $45,254 for the 20%-down payment. That payment is 20% of the median Polk County household income of $62,522; at that income and 20% down, the 28% guideline points to a home of about $235,000.
The median rent here is $676 a month, so owning the median home costs about $380 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $33,980 |
|---|---|
| Loan amount | $135,920 |
| Principal and interest | $914 |
| Property taxes (0.50% a year) | $71 |
| Homeowners insurance (our estimate, 0.5% a year) | $71 |
| PMI | $0 |
| Total per month | $1,056 |
Change the numbers in the calculator
| Down payment | $5,946 |
|---|---|
| Loan amount | $166,823 |
| Principal and interest | $1,122 |
| Property taxes (0.50% a year) | $71 |
| Homeowners insurance (our estimate, 0.5% a year) | $71 |
| FHA mortgage insurance | $75 |
| Total per month | $1,339 |
Change the numbers in the calculator
Questions about home buying in Polk County
What is the median home value in Polk County?
About $169,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Polk County?
Homeowners pay a median $856 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 Polk County?
For the median home with 20% down at 7.11%, the payment is about $1,056 a month. Keeping that under 28% of gross income takes about $45,254 a year.
More about Polk County
- Mortgage Refinance in Polk County
- Debt Relief in Polk County
- Home Equity Loans in Polk 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