Compare Murfreesboro, TN mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Murfreesboro.
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February 8, 2023
Below we provide helpful information on the real estate market, home prices and housing affordability in Murfreesboro. Understand how much you need to earn to afford a home in Murfreesboro, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Murfreesboro fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Murfreesboro is right for you.
The median home value for Murfreesboro, TN (Rutherford County) is $330,743
Based on current mortgage rates and a 10% down payment, you need to make $54,191 per year to buy the median priced home in Murfreesboro
With this income, you could qualify for a $297,669 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Murfreesboro is $1,255
The median household income for Murfreesboro, TN (Rutherford County) is $75,009
Based on this income, you can afford a home valued at approximately $457,804
The home price you can afford to buy based on household income in Murfreesboro is 138% of the median home value which means housing prices are average. Murfreesboro (Rutherford County) ranks 89 out of 95 counties in Tennessee and 2,726 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Murfreesboro, TN is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Murfreesboro (Rutherford County) below.
Conforming loan limits for Murfreesboro, TN
FHA loan limits for Murfreesboro, TN
VA loan limits for Murfreesboro, TN