Metro area · Tennessee

Jackson, TN metro: mortgages and home buyers

2025 home-purchase and refinance statistics for the 4-county Jackson, TN area (OMB code 27180), from official HMDA records.

In 2025, lenders reported 1,521 home-purchase mortgages for owner-occupied, single-family homes in the Jackson, TN metro area. The median buyer borrowed $235,000 on a home valued at $265,000 and reported a household income of $87,000.

Buyers financed a median 96.5% of the home's value (roughly 3.5% down), paid a median 6.625% on 30-year fixed conventional loans and faced median conventional loan costs of $3,880.

Lenders denied 8.6% of completed home-purchase applications.

Purchase loans

1,521

4 counties

Buyer income

$87,000

U.S. $116,000

Loan amount

$235,000

U.S. $335,000

Down payment

3.5%

U.S. 10%

30-yr fixed rate

6.625%

U.S. 6.625%

Denial rate

8.6%

Purchase · U.S. 8.5%

Key facts

Home buyers' median income ($87,000) is 25% lower than the U.S. median ($116,000).
Median conventional loan costs ($3,880) were 30% lower than the U.S. median ($5,570).
FHA loans made up 33.9% of purchase mortgages, versus 21.1% nationally.
USDA rural loans financed 6.9% of purchases.
25.4% of buyers put at least 20% down (financed 80% or less), compared with 38.5% nationally.
8.1% of first-lien purchase mortgages were for investment properties.
The most common age bracket among borrowers was 25–34 (32.9% of purchase loans).
57.0% of purchase mortgages had a single borrower with no co-applicant.
The most-cited reason for denial was debt-to-income ratio (29.0% of denials with a stated reason).

Counties in the metro area

County	Purchase loans	Median loan	Buyer income	30-yr rate	Loan costs	Conforming limit	FHA limit
Madison County, TN	772	$255,000	$91,000	6.625%	$3,810	$832,750	$541,287
Gibson County, TN	484	$205,000	$81,000	6.750%	$3,860	$832,750	$541,287
Chester County, TN	150	$225,000	$88,000	6.750%	$5,160	$832,750	$541,287
Crockett County, TN	115	$195,000	$75,000	—	—	$832,750	$541,287

Who bought homes in Jackson

Home-purchase mortgages for owner-occupied, single-family (1–4 unit) site-built homes, first liens, originated in 2025.

Purchase loans

1,521

of 1,718 applications

Buyer income

$87,000

Middle half $62,000–$125,000

Home value

$265,000

Middle half $195,000–$345,000

Loan amount

$235,000

Middle half $175,000–$315,000

Down payment

3.5%

25.4% put 20%+ down

Single borrower

57.0%

No co-applicant

Values are medians; "middle half" is the 25th to 75th percentile.

Loan type

Conventional 48.1% 731

FHA 33.9% 515

VA 11.2% 170

USDA 6.9% 105

What the homes were for

Primary residence 90.8% 1,627

Second home 1.1% 19

Investment property 8.1% 146

All first-lien, closed-end purchase mortgages, including second homes and investors.

Borrower age

Under 25 11.4%

25–34 32.9%

35–44 20.6%

45–54 15.3%

55–64 10.3%

65–74 6.8%

75 and over 2.8%

Debt-to-income ratio

Under 20% 3.8%

20–29% 14.1%

30–35% 17.4%

36–42% 28.1%

43–49% 25.5%

50–60% 10.8%

Over 60% 0.4%

Monthly debts (including the new payment) as a share of income, as used in underwriting.

What borrowing cost in Jackson

Medians for 2025 home-purchase loans. Total loan costs are section D of the Loan Estimate/Closing Disclosure (lender and third-party loan charges, excluding taxes, prepaids and escrow). FHA and VA costs include the upfront mortgage insurance premium or VA funding fee, so compare like with like.

Measure	Jackson	U.S.
30-year fixed rate · conventional	6.625%	6.625%
30-year fixed rate · FHA	6.375%	6.250%
30-year fixed rate · VA	6.250%	6.125%
15-year fixed rate · conventional	6.000%	5.875%
Rate spread vs. APOR · conventional	+0.17 pts	+0.13 pts
Total loan costs · conventional	$3,880	$5,570
Total loan costs · FHA	$8,190	$11,310
Total loan costs · VA	$3,920	$6,490
Origination charges (all loan types)	$1,510	$1,860
Borrowers paying discount points	45.5%	51.3%
Points paid, when paid (% of loan)	0.63%	0.87%
Borrowers receiving lender credits	35.0%	33.1%
Adjustable-rate mortgages	1.9%	7.4%
Jumbo loans (above conforming limit)	0.7%	3.8%

Medians are shown only when at least 30 loans report the field. Rates are those reported at closing; market rates changed during 2025, which the rate spread (APR minus the average prime offer rate on the lock date) adjusts for.

Approvals and denials

Jackson: 147 of 1,718 completed home-purchase applications were denied (8.6%).

Denial rate

Application	Jackson	U.S.
Home purchase	8.6%	8.5%
Conventional	7.0%	7.1%
FHA	9.3%	12.5%
VA	10.0%	8.0%
USDA	13.0%	12.5%
Refinance	19.4%	17.9%
Cash-out refinance	39.4%	33.6%

Main reason for purchase denials

Debt-to-income ratio 29.0%

Credit application incomplete 16.9%

Credit history 16.1%

Other 15.3%

Insufficient cash (down payment/closing costs) 8.9%

Collateral (appraisal/property) 7.3%

Employment history 4.8%

Unverifiable information 1.6%

First reason the lender reported.

Denial rate = denied ÷ (originated + approved but not accepted + denied). Withdrawn and incomplete applications are excluded. Differences between places reflect who applies, not only lender behavior.

Refinancing in Jackson

Refinances

388

Median loan $225,000

Refi rate

6.624%

30-yr fixed, conv.

Refi loan costs

$2,920

Conventional

Cash-out refis

384

Median loan $195,000

Cash-out rate

6.875%

30-yr fixed, conv.

Cash-out income

$75,000

Median borrower

Source: FFIEC/CFPB HMDA 2025 public LAR (derived MSA/MD); OMB July 2023 delineations via the U.S. Census Bureau. Methodology