Mortgage Rates in Nashville, Tennessee — March 2026
Updated March 2026 | Based on Nashville market data and regional lending conditions
Nashville is a major metropolitan area in Tennessee with a population of 689,447. The current 30-year fixed mortgage rate in Nashville is 6.72%, which is 0.07% above the national average. With a median home price of $410,000 and a 20% down payment of $82,000, homebuyers can expect a monthly principal and interest payment of approximately $2,121.
Current Mortgage Rates in Nashville, TN
Below are the current average mortgage rates available in the Nashville area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.72% | 6.65% | +0.07% |
| 15-Year Fixed | 5.96% | 5.89% | +0.07% |
| 5/1 ARM | 6.22% | 6.15% | +0.07% |
| FHA | 6.32% | 6.25% | +0.07% |
| VA | 6.12% | 6.05% | +0.07% |
| Jumbo | 6.92% | 6.85% | +0.07% |
Nashville Housing Market Overview
The Nashville housing market reflects moderate demand with prices near the national average. The median household income in Nashville is $59,828, and the cost of living index is 96.3 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $100,586 to comfortably afford the median-priced home in Nashville, which exceeds the current median household income.
Monthly Payment Breakdown for Nashville
Based on the median home price of $410,000 with 20% down ($82,000), here is what you can expect to pay monthly in Nashville:
15-Year vs. 30-Year Mortgage in Nashville
Choosing a 15-year mortgage in Nashville at 5.96% instead of a 30-year at 6.72% would save you $266,580 in total interest over the life of the loan. However, your monthly payment would be $2,761 instead of $2,121 — an increase of $640 per month.
Calculate Your Nashville Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Nashville
What are the current mortgage rates in Nashville, TN?
As of March 2026, the average 30-year fixed mortgage rate in Nashville, Tennessee is 6.72%, while the 15-year fixed rate is 5.96%. FHA loans average 6.32% and VA loans 6.12%. These rates are 0.07% above the national average of 6.65%.
How much is a monthly mortgage payment in Nashville?
Based on the median home price of $410,000 with 20% down, the estimated monthly mortgage payment in Nashville is $2,121 for principal and interest. Including property taxes of $226/month, the total monthly housing cost is approximately $2,347.
What income do I need to buy a home in Nashville?
Using the 28% rule, you would need an annual income of approximately $100,586 to afford the median-priced home in Nashville at $410,000. The median household income in Nashville is $59,828. This means most households would need to either earn above the median or consider homes below $410,000.
Is Nashville a good place to buy a home in 2026?
Nashville offers a below-average cost of living with a cost of living index of 96.3 (national average = 100). The property tax rate in Tennessee is 0.66%, which is below the national average. As a major city with 689,447 residents, Nashville offers diverse employment opportunities and amenities.
Mortgage Rates in Other Tennessee Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Nashville, Tennessee area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.