Market Overview
Home Prices in Somerville, TN
The median home value in Somerville, TN is $301,218 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.3% compared to a year ago and up 1.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Somerville are priced27% below average. Somerville is part of the Memphis, TN-MS-AR metro area.
Over the past five years, Somerville home values have risen by approximately31.2%, reflecting strong long-term appreciation in this market.
Price History
Somerville Home Price Trend
City Comparison
Somerville vs. National Median
At $301,218, homes in Somerville cost 27% below the national median of $410,000. This makes Somerville a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Somerville?
20% Down Payment
$60,244
on $301,218
Monthly P&I
$1,571/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,995/mo
incl. taxes & insurance
Income Needed
$79,800
gross annual (30% rule)
10% Down Option
$30,122
+ PMI applies
Loan Amount (20% dn)
$240,974
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 Somerville, TN?
The median home value in Somerville is $301,218 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4.3% year-over-year.
How much have home prices changed in Somerville?
Over the past year, home values in Somerville have increased by 4.3%. Over five years, prices have risen approximately 31.2%.
How much do I need to earn to buy a home in Somerville?
To comfortably afford the median home price of $301,218 with a 20% down payment ($60,244) at today's rates (6.8%), you'd need a gross annual income of approximately $79,800. This assumes keeping total housing costs at or below 30% of gross income.
How does Somerville compare to the national average home price?
The national median home value is approximately $410,000. At $301,218, homes in Somerville are 27% below the national average.
What metro area is Somerville part of?
Somerville is part of the Memphis, TN-MS-AR metropolitan area. Home prices and market conditions can vary across the broader metro region.