The typical owner-occupied home in Cookeville is worth about $305,400, 7% above the Tennessee median of $286,700 and 8% below the national median of $332,700. Owners pay a median $1,590 a year in property taxes, about 0.52% of their home's value, close to the Tennessee rate of 0.50%. The median household earns $51,375 a year, so the median home costs 5.9 times the median income (4.1 times for Tennessee). 41% of occupied homes here are lived in by their owners, and 57% of those owners still have a mortgage.
Cookeville at a glance
| Cookeville | Tennessee | U.S. | |
|---|---|---|---|
| Median home value | $305,400 | $286,700 | $332,700 |
| Median property tax paid per year | $1,590 | $1,442 | $3,119 |
| Property tax as a share of value | 0.52% | 0.50% | 0.94% |
| Median household income | $51,375 | $69,595 | $80,734 |
| Homes lived in by their owners | 41% | 67% | 65% |
| Owner homes with a mortgage | 57% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,520 | $1,566 | $1,963 |
| Those costs as a share of the owners' income | 18.1% | 19.6% | 21.0% |
| Median rent | $917 | $1,189 | $1,413 |
| Rent as a share of renters' income | 30.9% | 29.5% | 30.6% |
| Median year homes were built | 1991 | 1987 | 1980 |
| Vacant homes | 7.6% | 10.2% | 10.1% |
| Population | 36,088 | 7,066,383 | 334,922,499 |
What a typical home costs per month in Cookeville
At this week's average 30-year rate of 7.11%, buying the median Cookeville home of $305,400 with 20% down costs about $1,903 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,412, 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 $81,564 for the 20%-down payment. That payment is 44% of the median Cookeville household income of $51,375; at that income and 20% down, the 28% guideline points to a home of about $192,000.
The median rent here is $917 a month, so owning the median home costs about $986 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $61,080 |
|---|---|
| Loan amount | $244,320 |
| Principal and interest | $1,644 |
| Property taxes (0.52% a year) | $132 |
| Homeowners insurance (our estimate, 0.5% a year) | $127 |
| PMI | $0 |
| Total per month | $1,903 |
Change the numbers in the calculator
| Down payment | $10,689 |
|---|---|
| Loan amount | $299,868 |
| Principal and interest | $2,017 |
| Property taxes (0.52% a year) | $132 |
| Homeowners insurance (our estimate, 0.5% a year) | $127 |
| FHA mortgage insurance | $135 |
| Total per month | $2,412 |
Change the numbers in the calculator
Questions about home buying in Cookeville
What is the median home value in Cookeville?
About $305,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Cookeville?
Homeowners pay a median $1,590 a year, which is about 0.52% 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 Cookeville?
For the median home with 20% down at 7.11%, the payment is about $1,903 a month. Keeping that under 28% of gross income takes about $81,564 a year.
More about Cookeville
- Mortgage Refinance in Cookeville
- Debt Relief in Cookeville
- Home Equity Loans in Cookeville
- 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