The typical owner-occupied home in Palmersville is worth about $96,500, 66% below the Tennessee median of $286,700 and 71% below the national median of $332,700. Owners pay a median $334 a year in property taxes, about 0.35% of their home's value, lower than the Tennessee rate of 0.50%. The median household earns $45,855 a year, so the median home costs 2.1 times the median income (4.1 times for Tennessee). 100% of occupied homes here are lived in by their owners, and 26% of those owners still have a mortgage.
Palmersville at a glance
| Palmersville | Tennessee | U.S. | |
|---|---|---|---|
| Median home value | $96,500 | $286,700 | $332,700 |
| Median property tax paid per year | $334 | $1,442 | $3,119 |
| Property tax as a share of value | 0.35% | 0.50% | 0.94% |
| Median household income | $45,855 | $69,595 | $80,734 |
| Homes lived in by their owners | 100% | 67% | 65% |
| Owner homes with a mortgage | 26% | 58% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,566 | $1,963 |
| Median rent | – | $1,189 | $1,413 |
| Median year homes were built | 1966 | 1987 | 1980 |
| Vacant homes | 19.7% | 10.2% | 10.1% |
| Population | 114 | 7,066,383 | 334,922,499 |
What a typical home costs per month in Palmersville
At this week's average 30-year rate of 7.11%, buying the median Palmersville home of $96,500 with 20% down costs about $588 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $748, 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 $25,186 for the 20%-down payment. That payment is 15% of the median Palmersville household income of $45,855; at that income and 20% down, the 28% guideline points to a home of about $176,000.
| Down payment | $19,300 |
|---|---|
| Loan amount | $77,200 |
| Principal and interest | $519 |
| Property taxes (0.35% a year) | $28 |
| Homeowners insurance (our estimate, 0.5% a year) | $40 |
| PMI | $0 |
| Total per month | $588 |
Change the numbers in the calculator
| Down payment | $3,378 |
|---|---|
| Loan amount | $94,752 |
| Principal and interest | $637 |
| Property taxes (0.35% a year) | $28 |
| Homeowners insurance (our estimate, 0.5% a year) | $40 |
| FHA mortgage insurance | $43 |
| Total per month | $748 |
Change the numbers in the calculator
Questions about home buying in Palmersville
What is the median home value in Palmersville?
About $96,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Palmersville?
Homeowners pay a median $334 a year, which is about 0.35% 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 Palmersville?
For the median home with 20% down at 7.11%, the payment is about $588 a month. Keeping that under 28% of gross income takes about $25,186 a year.
More about Palmersville
- Mortgage Refinance in Palmersville
- Debt Relief in Palmersville
- Home Equity Loans in Palmersville
- 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