Income needed to buy a home
Montgomery County, TN
$104,506
a year in household income to buy the typical Montgomery County home with 10% down.
The monthly math
Typical home value$320,231
Down payment (10%)$32,023
Loan$288,208
Principal and interest (7.40%)$1,995/mo
Property tax (0.61% a year)$163/mo
Homeowners insurance (estimate)$160/mo
Mortgage insurance$120/mo
Total monthly cost$2,438/mo
Income needed keeps housing at 28% of gross income, the lender rule of thumb.
What locals earn
A stretch
The typical household here earns $75,613 a year, 72% of what it takes.
In Tennessee
Montgomery County ranks #76 of 95 for the income a home takes, from least to most.
Easiest to afford in Tennessee
| County | Typical home | Income needed |
|---|---|---|
| Lake County | $114,150 | $37,705 |
| Lauderdale County | $141,988 | $46,642 |
| Hardeman County | $163,972 | $53,330 |
| Chester County | $168,713 | $54,432 |
| Obion County | $169,585 | $54,635 |
Typical home value from the Zillow Home Value Index, August 2026. Rate is the Freddie Mac 30-year average for Oct 8, 2026. Property tax rate is total taxes paid divided by total home value in the county (U.S. Census, ACS 2020-2024). How it works.