The typical owner-occupied home in Farner is worth about $117,200, 59% below the Tennessee median of $286,700 and 65% below the national median of $332,700. Owners pay a median $512 a year in property taxes, about 0.44% of their home's value, lower than the Tennessee rate of 0.50%. The median household earns $29,464 a year, so the median home costs 4.0 times the median income (4.1 times for Tennessee). 75% of occupied homes here are lived in by their owners, and 30% of those owners still have a mortgage.
Farner at a glance
| Farner | Tennessee | U.S. | |
|---|---|---|---|
| Median home value | $117,200 | $286,700 | $332,700 |
| Median property tax paid per year | $512 | $1,442 | $3,119 |
| Property tax as a share of value | 0.44% | 0.50% | 0.94% |
| Median household income | $29,464 | $69,595 | $80,734 |
| Homes lived in by their owners | 75% | 67% | 65% |
| Owner homes with a mortgage | 30% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $587 | $1,566 | $1,963 |
| Those costs as a share of the owners' income | 29.0% | 19.6% | 21.0% |
| Median rent | – | $1,189 | $1,413 |
| Median year homes were built | 1981 | 1987 | 1980 |
| Vacant homes | 7.1% | 10.2% | 10.1% |
| Population | 197 | 7,066,383 | 334,922,499 |
What a typical home costs per month in Farner
At this week's average 30-year rate of 7.11%, buying the median Farner home of $117,200 with 20% down costs about $723 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $918, 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 $30,966 for the 20%-down payment. That payment is 29% of the median Farner household income of $29,464; at that income and 20% down, the 28% guideline points to a home of about $112,000.
| Down payment | $23,440 |
|---|---|
| Loan amount | $93,760 |
| Principal and interest | $631 |
| Property taxes (0.44% a year) | $43 |
| Homeowners insurance (our estimate, 0.5% a year) | $49 |
| PMI | $0 |
| Total per month | $723 |
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| Down payment | $4,102 |
|---|---|
| Loan amount | $115,077 |
| Principal and interest | $774 |
| Property taxes (0.44% a year) | $43 |
| Homeowners insurance (our estimate, 0.5% a year) | $49 |
| FHA mortgage insurance | $52 |
| Total per month | $918 |
Change the numbers in the calculator
Questions about home buying in Farner
What is the median home value in Farner?
About $117,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Farner?
Homeowners pay a median $512 a year, which is about 0.44% 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 Farner?
For the median home with 20% down at 7.11%, the payment is about $723 a month. Keeping that under 28% of gross income takes about $30,966 a year.
More about Farner
- Mortgage Refinance in Farner
- Debt Relief in Farner
- Home Equity Loans in Farner
- 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