Mortgage payment estimates, closing cost breakdowns, and homebuying data for Chattanooga, Tennessee.
Pre-filled with Chattanooga median home price and Tennessee tax/insurance rates. Adjust for your property.
Estimated closing costs based on Tennessee rates and fees applied to Chattanooga prices.
The median home price in Chattanooga is $295,000, 13% below the Tennessee state median of $340,000. With a population of 181,099, Chattanooga is a mid-size city where home prices tend to be more accessible than in many parts of Tennessee.
Property taxes in Tennessee average 0.56% annually. This low property tax rate is a significant advantage for Chattanooga buyers, keeping your monthly costs well below what you'd pay in higher-tax states. Homeowners insurance in Tennessee runs approximately $2,400 per year. This is within the normal range nationally.
Average rent in Chattanooga is $1,250/month. The price-to-rent ratio in Chattanooga is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Chattanooga presents moderate affordability. The $295K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.