The typical owner-occupied home in Germantown is worth about $470,800, 64% above the Tennessee median of $286,700 and 42% above the national median of $332,700. Owners pay a median $4,786 a year in property taxes, about 1.02% of their home's value, higher than the Tennessee rate of 0.50%. The median household earns $149,920 a year, so the median home costs 3.1 times the median income (4.1 times for Tennessee). 87% of occupied homes here are lived in by their owners, and 64% of those owners still have a mortgage.
Germantown at a glance
| Germantown | Tennessee | U.S. | |
|---|---|---|---|
| Median home value | $470,800 | $286,700 | $332,700 |
| Median property tax paid per year | $4,786 | $1,442 | $3,119 |
| Property tax as a share of value | 1.02% | 0.50% | 0.94% |
| Median household income | $149,920 | $69,595 | $80,734 |
| Homes lived in by their owners | 87% | 67% | 65% |
| Owner homes with a mortgage | 64% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $2,546 | $1,566 | $1,963 |
| Those costs as a share of the owners' income | 18.2% | 19.6% | 21.0% |
| Median rent | $1,816 | $1,189 | $1,413 |
| Rent as a share of renters' income | 32.0% | 29.5% | 30.6% |
| Median year homes were built | 1983 | 1987 | 1980 |
| Vacant homes | 3.3% | 10.2% | 10.1% |
| Population | 40,673 | 7,066,383 | 334,922,499 |
What a typical home costs per month in Germantown
At this week's average 30-year rate of 7.11%, buying the median Germantown home of $470,800 with 20% down costs about $3,130 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,914, 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 $134,144 for the 20%-down payment. That payment is 25% of the median Germantown household income of $149,920; at that income and 20% down, the 28% guideline points to a home of about $526,000.
The median rent here is $1,816 a month, so owning the median home costs about $1,314 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $94,160 |
|---|---|
| Loan amount | $376,640 |
| Principal and interest | $2,534 |
| Property taxes (1.02% a year) | $400 |
| Homeowners insurance (our estimate, 0.5% a year) | $196 |
| PMI | $0 |
| Total per month | $3,130 |
Change the numbers in the calculator
| Down payment | $16,478 |
|---|---|
| Loan amount | $462,273 |
| Principal and interest | $3,110 |
| Property taxes (1.02% a year) | $400 |
| Homeowners insurance (our estimate, 0.5% a year) | $196 |
| FHA mortgage insurance | $208 |
| Total per month | $3,914 |
Change the numbers in the calculator
Questions about home buying in Germantown
What is the median home value in Germantown?
About $470,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Germantown?
Homeowners pay a median $4,786 a year, which is about 1.02% 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 Germantown?
For the median home with 20% down at 7.11%, the payment is about $3,130 a month. Keeping that under 28% of gross income takes about $134,144 a year.
More about Germantown
- Mortgage Refinance in Germantown
- Debt Relief in Germantown
- Home Equity Loans in Germantown
- 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