Market Overview
Home Prices in Cowan, TN
The median home value in Cowan, TN is $188,218 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 1.1% compared to a year ago and down 1.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Cowan are priced54% below average. Cowan is part of the Tullahoma-Manchester, TN metro area.
Over the past five years, Cowan home values have risen by approximately40.9%, reflecting strong long-term appreciation in this market.
Price History
Cowan Home Price Trend
City Comparison
Cowan vs. National Median
At $188,218, homes in Cowan cost 54% below the national median of $410,000. This makes Cowan a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Cowan?
20% Down Payment
$37,644
on $188,218
Monthly P&I
$982/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,247/mo
incl. taxes & insurance
Income Needed
$49,880
gross annual (30% rule)
10% Down Option
$18,822
+ PMI applies
Loan Amount (20% dn)
$150,574
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Cowan, TN?
The median home value in Cowan is $188,218 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 1.1% year-over-year.
How much have home prices changed in Cowan?
Over the past year, home values in Cowan have increased by 1.1%. Over five years, prices have risen approximately 40.9%.
How much do I need to earn to buy a home in Cowan?
To comfortably afford the median home price of $188,218 with a 20% down payment ($37,644) at today's rates (6.8%), you'd need a gross annual income of approximately $49,880. This assumes keeping total housing costs at or below 30% of gross income.
How does Cowan compare to the national average home price?
The national median home value is approximately $410,000. At $188,218, homes in Cowan are 54% below the national average.
What metro area is Cowan part of?
Cowan is part of the Tullahoma-Manchester, TN metropolitan area. Home prices and market conditions can vary across the broader metro region.