Current Avg. Rates: 6.46% 30-yr fixed|5.77% 15-yr fixed
Source: Freddie Mac Primary Mortgage Market Survey
Source: Freddie Mac Primary Mortgage Market Survey
Austin vs Nashville: Mortgage Cost Comparison
Thinking about buying in Austin or Nashville? Here's a side-by-side comparison of mortgage costs in both cities.
$3,155
Austin PITI
$2,610
Nashville PITI
$546/mo
Difference
Your Monthly Payment (PITI)
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Principal + Interest + Tax + Insurance
Monthly Breakdown
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Property Tax
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Insurance
Loan Overview
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Total Interest
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Payoff Date
Bi-Weekly Option
? Pay half your monthly payment every two weeks — you'll make 26 half-payments (13 full payments) per year instead of 12
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Bi-Weekly Payment
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Total Interest
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Payoff Date
Austin vs Nashville: Full Mortgage Comparison
Buying a home in Nashville is $546/month cheaper based on average home prices and local costs.
| Austin, TX | Nashville, TN | |
|---|---|---|
| Avg. Home Price | $450,000 | $430,000 |
| Down Payment (20%) | $90,000 | $86,000 |
| Loan Amount | $360,000 | $344,000 |
| Property Tax Rate | 1.68% | 0.68% |
| Annual Property Tax | $7,560 | $2,924 |
| Annual Insurance | $3,000 | $2,300 |
| Monthly P&I | $2,275 | $2,174 |
| Monthly PITI | $3,155 | $2,610 |
| Total Interest (30yr) | $459,160 | $438,753 |
What Drives the Difference?
Home prices are the biggest factor — Austin’s average home costs $20,000 more than Nashville’s.
Property taxes also favor Nashville — Austin’s 1.68% rate is higher than Nashville’s 0.68%.
Insurance is $700/year more in Austin.
Income Needed to Buy
Using the 28% rule (PITI under 28% of gross income):
| Austin | Nashville | |
|---|---|---|
| Monthly PITI | $3,155 | $2,610 |
| Income needed | $135,233 | $111,842 |
Try Your Own Numbers
The calculator above is pre-filled with Austin’s averages. Adjust the values to match your situation, or try the Nashville calculator for Nashville-specific numbers.