CALCMONEY // HOME AFFORDABILITY // TN // MURFREESBORO
How much house can you afford in Murfreesboro? Based on local median home prices, current TN mortgage rates, and Murfreesboro property tax data.
$395,000
$2,509/mo
$107,533/yr
$228,784
Monthly housing costs of $2,509 represent 43.0% of Murfreesboro's median gross monthly income ($5,833/mo). At 43.0%, median-income buyers in Murfreesboro are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $395,000 |
| Down Payment (20%) | $79,000 |
| Loan Amount | $316,000 |
| Monthly PI Payment | $2,081 |
| Monthly Property Tax | $263 |
| Monthly Insurance Est. | $165 |
| Total Monthly PITI | $2,509 |
| Housing Cost % of Income | 43.0% |
| Required Income (28% rule) | $107,533/yr |
| Max Affordable Home | $228,784 |
$13,825
$3,208/mo
Murfreesboro Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $395,000 | Murfreesboro city median |
| Down Payment (20%) | $79,000 | Conventional loan |
| Monthly PITI | $2,509 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $107,533 | Annual gross |
| Max Affordable Home | $228,784 | Based on median income |
| FHA Down (3.5%) | $13,825 | Minimum FHA |
| Housing Cost % of Income | 43.0% | Median income: $70,000/yr |
| Property Tax Rate | 0.8% | $3,160/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Murfreesboro is $395,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $316,000, generating a monthly P&I payment of $2,081. Adding property taxes ($263/mo) and homeowners insurance ($165/mo) brings total monthly PITI to $2,509.
Murfreesboro's property tax rate of 0.8% is near the national average, adding a standard increment to monthly housing costs. On the Murfreesboro median home, that is $263/month, or $3,160 per year.
Tennessee has no state income tax, improving effective take-home pay for Murfreesboro residents and giving buyers additional capacity relative to equally-priced homes in high-tax states.
Using the 28% rule, a household earning Murfreesboro's median income of $70,000/year can afford up to $1,633/month in total housing costs. Based on Murfreesboro's mortgage rate of 6.9% and property tax rate of 0.8%, that translates to a maximum affordable home price of approximately $228,784 with 20% down on a 30-year loan.
To afford the median Murfreesboro home priced at $395,000, you need an annual gross income of approximately $107,533. Total monthly housing costs (principal and interest of $2,081, property taxes of $263, and insurance of $165) come to $2,509/month, which equals 28% of the required income.
At the median home price of $395,000 and median household income of $70,000, the total monthly housing cost of $2,509 represents 43.0% of gross monthly income. This is well above the standard 28% threshold, making Murfreesboro a challenging market for buyers at median income.
A conventional 20% down payment on the median Murfreesboro home of $395,000 is $79,000. An FHA loan requires just 3.5% down — $13,825 — but adds mortgage insurance of roughly $270/month, bringing total FHA payments to $3,208/month.
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