The typical owner-occupied home in Sparta is worth about $217,000, 24% below the Tennessee median of $286,700 and 35% below the national median of $332,700. Owners pay a median $1,019 a year in property taxes, about 0.47% of their home's value, lower than the Tennessee rate of 0.50%. The median household earns $50,080 a year, so the median home costs 4.3 times the median income (4.1 times for Tennessee). 68% of occupied homes here are lived in by their owners, and 44% of those owners still have a mortgage.
Sparta at a glance
| Sparta | Tennessee | U.S. | |
|---|---|---|---|
| Median home value | $217,000 | $286,700 | $332,700 |
| Median property tax paid per year | $1,019 | $1,442 | $3,119 |
| Property tax as a share of value | 0.47% | 0.50% | 0.94% |
| Median household income | $50,080 | $69,595 | $80,734 |
| Homes lived in by their owners | 68% | 67% | 65% |
| Owner homes with a mortgage | 44% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,193 | $1,566 | $1,963 |
| Those costs as a share of the owners' income | 27.4% | 19.6% | 21.0% |
| Median rent | $731 | $1,189 | $1,413 |
| Rent as a share of renters' income | 22.0% | 29.5% | 30.6% |
| Median year homes were built | 1968 | 1987 | 1980 |
| Vacant homes | 7.5% | 10.2% | 10.1% |
| Population | 4,939 | 7,066,383 | 334,922,499 |
What a typical home costs per month in Sparta
At this week's average 30-year rate of 7.11%, buying the median Sparta home of $217,000 with 20% down costs about $1,343 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,705, 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 $57,567 for the 20%-down payment. That payment is 32% of the median Sparta household income of $50,080; at that income and 20% down, the 28% guideline points to a home of about $189,000.
The median rent here is $731 a month, so owning the median home costs about $612 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $43,400 |
|---|---|
| Loan amount | $173,600 |
| Principal and interest | $1,168 |
| Property taxes (0.47% a year) | $85 |
| Homeowners insurance (our estimate, 0.5% a year) | $90 |
| PMI | $0 |
| Total per month | $1,343 |
Change the numbers in the calculator
| Down payment | $7,595 |
|---|---|
| Loan amount | $213,070 |
| Principal and interest | $1,433 |
| Property taxes (0.47% a year) | $85 |
| Homeowners insurance (our estimate, 0.5% a year) | $90 |
| FHA mortgage insurance | $96 |
| Total per month | $1,705 |
Change the numbers in the calculator
Questions about home buying in Sparta
What is the median home value in Sparta?
About $217,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Sparta?
Homeowners pay a median $1,019 a year, which is about 0.47% 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 Sparta?
For the median home with 20% down at 7.11%, the payment is about $1,343 a month. Keeping that under 28% of gross income takes about $57,567 a year.
More about Sparta
- Mortgage Refinance in Sparta
- Debt Relief in Sparta
- Home Equity Loans in Sparta
- 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