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City · 9,979 residents · Fayette County, Tennessee

Oakland , Tennessee

In Oakland, a typical home is worth $319,100 and typical rent is $1,992 a month. Compared with all of Fayette County, typical rent is 121% higher, typical household income is 11% higher, and the share of households that own their home is 6 points higher.

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  • Typical home value

    $319,100

    6% below the county

    11% above Tennessee

    • Oakland
    • Fayette
    • Tennessee

  • Typical rent

    $1,992a month

    121% above the county

    68% above Tennessee

    • Oakland
    • Fayette
    • Tennessee

  • Typical household income

    $97,798a year

    11% above the county

    41% above Tennessee

    • Oakland
    • Fayette
    • Tennessee

  • Households that own their home

    87%

    6 points above the county

    20 points above Tennessee

    • Oakland
    • Fayette
    • Tennessee

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$351,383
2.2% less than 12 months ago
Typical rent
$2,080 a month
4.1% more than 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Oakland is in Fayette County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Fayette County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Oakland apart

What this place has that others do not, from public data, most unusual first.

  1. The typical rent in Oakland is $1,992 a month, 121% more than in Fayette County as a whole ($902).

  2. Nearby, in Bartlett, the typical rent is $1,638: 18% less than in Oakland ($1,992).

  3. Oakland has the 10th highest homeownership rate of the 113 cities in Tennessee with more than 5,000 people (87%).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Oakland

What homes there are in Oakland, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

Detached houses, standing on their own, make up 100% of homes here, against 85% in Fayette County.

Year built

The typical home in Oakland was built in 2007, 8 years after the typical one in Fayette County.

There is more room for a big family here: 98% of homes have 3 bedrooms or more, against 86% in Fayette County.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$1,612 a month

Fayette County: $1,674 a month

Without a mortgage

$452 a month

Fayette County: $463 a month

Owners with a mortgage

70%

Fayette County: 61%

The typical cost for an owner with a mortgage in Oakland is $1,612 a month, near the figure in Fayette County ($1,674).

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

The typical home value in Oakland rose 72% since 2015–2019, more than in Fayette County (65%).

Rents in Oakland rose faster than in Fayette County: 33% since 2015–2019, against 22%.

To compare: typical income in Oakland rose 30%; the home, +72%; the rent, +33%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureOaklandFayette CountyTennesseeUnited States
Rental vacancy Unreliable estimateUnreliable estimate6.1%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.9%0.9%
More than one person per room Unreliable estimate2.0%2.2%3.4%
People per household 2.512.492.452.53
Drive alone 72%78%76%69%
Carpool 10%8%8%9%
Public transit Unreliable estimateUnreliable estimate0%3%
Walk or bike Unreliable estimateUnreliable estimate1%3%
Work from home 13%12%13%15%
Other means Unreliable estimateUnreliable estimate1%2%
Typical commute Unreliable estimate30 to 39 minutes20 to 29 minutes20 to 29 minutes

Much as in Fayette County, a household in Oakland has 2.51 people on average.

To get to work, 72% of workers in Oakland drive alone; in Fayette County, 78%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Oakland?

A typical home is tight for the typical income

We start with a typical home in Oakland, worth $319,100, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 31% of the typical household income in Oakland, which is $97,798 a year. For that payment to be 28% of income, a household would need to earn about $107,044 a year.

The calculator's FHA and conventional loan limits are those of all of Fayette County.

Your numbers

Local data
$

Starts at the typical home value in Oakland. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $11,169 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$2,498

at 7.18% · 30 years

Loan amount
$313,320
Total interest
$450,794
Paid off in
November 2056

Includes $5,389 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,282 a month

  • Tight

    $2,282 to $2,934 a month

    Your payment · 31%

  • Hard

    more than $2,934 a month

Compared with the typical household income in Oakland ($97,798 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$2,498
Principal & interest$2,123
Property tax$101
Home insurance$133
FHA mortgage insurance (MIP)$141

You need at least $11,169 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Oakland and Fayette County

Oakland is in Fayette County, Tennessee. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Oakland's own numbers

Typical home value
$319,100
Typical monthly rent
$1,992
Typical yearly household income
$97,798
Households that own their home
87%
Effective property tax rate
0.38%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Fayette County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,301
Price change over 5 years (FHFA)
+48%
Homes in a high flood-risk zone
0.5%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Fayette County.

Everything about Fayette County

Buying

Buying a home in Oakland

A typical home in Oakland is worth $319,100: 6% below the county and 11% above Tennessee. With the typical household income in Oakland ($97,798 a year), a typical home costs 3.3 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Oakland 3.3 years
  • Fayette 3.9 years
  • Tennessee 4.1 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Fayette County

According to FHFA’s house price index, home prices in Fayette County rose 82% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Fayette County.

Period County Tennessee U.S.
Last year (2025) +3.6% +2.4% +2.9%
5 years (2020–2025) +48% +60% +47%
10 years (2015–2025) +82% +114% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Oakland next to Fayette County, Tennessee and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Oakland $319,100
  • Fayette $340,800
  • Tennessee $286,700
  • United States $332,700
Typical monthly rent
  • Oakland $1,992
  • Fayette $902
  • Tennessee $1,189
  • United States $1,413
Typical yearly household income
  • Oakland $97,798
  • Fayette $88,456
  • Tennessee $69,595
  • United States $80,734
See the full table
Oakland next to Fayette County and Tennessee
Measure Oakland Fayette County Tennessee U.S.
Typical home value $319,100 $340,800 $286,700 $332,700
Typical monthly rent $1,992 $902 $1,189 $1,413
Typical yearly household income $97,798 $88,456 $69,595 $80,734
Households that own their home 87% 81% 67% 65%
Typical yearly property tax $1,200 $1,140 $1,442 $3,119
Effective property tax rate 0.38% 0.33% 0.5% 0.94%
Renters with high rent for their income 50% 46% 49% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Fayette County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Oakland

For a typical $319,100 home in Oakland, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Oakland's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $2,498a month

    Least cash to close
    Down payment
    $11,169
    Cash to close
    $20,742
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $141

  • Conventional, 5% down $2,439a month

    Down payment
    $15,955
    Cash to close
    $25,528
    Rate
    7.18%
    Mortgage insurance
    PMI · $152

  • Conventional, 20% down, no PMI $1,963a month

    Down payment
    $63,820
    Cash to close
    $73,393
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $2,258a month

    Down payment
    $47,865
    Cash to close
    $57,438
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Oakland and for Fayette County.

Property tax

Effective rate in Oakland

0.38%of the home’s value each year

$1,200 a year for the typical owner in Oakland.

  • Oakland 0.38%
  • Fayette 0.33%
  • Tennessee 0.5%

What Tennessee publishes Property tax relief for older, disabled and disabled-veteran homeowners (Tennessee Comptroller of the Treasury, 2026 Property Tax Relief Program brochure)

Exemptions and deadlines in Tennessee

Flood risk in Fayette County

FEMA does not publish these numbers by city: they are for all of Fayette County.

Homes in the high-risk zone
0.5%
89
Of those, with NFIP insurance
26%
County Tennessee U.S.
Homes in the high-risk zone 0.5% 1.6% 3.5%
Of those, with NFIP insurance 26% 25% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Oakland

Typical rent in Oakland is $1,992 a month: 121% above the county. In Oakland, 50% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Fayette County, by unit size. To pay the 2-bedroom one ($1,301 a month) without spending more than 30% of your income, you would need to earn $25.02 an hour working full time.

HUD fair market rent for all of Fayette County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,095 $21.06 $43,800
1 bedroom $1,191 $22.90 $47,640
2 bedrooms $1,301 $25.02 $52,040
3 bedrooms $1,717 $33.02 $68,680
4 bedrooms $1,981 $38.10 $79,240

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Oakland

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Oakland has 2 ZIP codes with their own.

For 2 bedrooms it runs from $1,410 in 38028 to $1,790 in 38060.

2 of the 2 are above the fair market rent for Fayette County ($1,301).

  • 38028 $1,410$1,860
  • 38060 $1,790$2,360

2 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Oakland when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Free help

Help to buy or rent in Oakland

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

We found no HUD-approved agencies with an office in Fayette County. The nearest ones are below; many serve by phone or online.

A young woman and a young man point to a line in their notes beside a laptop in a library.

HUD counseling is free or low-cost

Assistance programs in Oakland

No down payment, repair or rent-help program on our list is for Oakland or Fayette County. The ones below are statewide in Tennessee: they work in Oakland the same as in the rest of the state.

Which programs do I qualify for? All programs in Tennessee

  • Great Choice Plus

    Statewide in Tennessee

    Tennessee state agency help with the down payment and closing costs alongside the Great Choice mortgage: $6,000 or $10,000 forgivable over 10 years with no payments, or up to 5% of the price (maximum $15,000) as a 30-year second mortgage. Offered by Tennessee Housing Development Agency (THDA).

    ForgivableRepayable

    See the program Official page

Housing counselors near Oakland

The HUD-approved agencies closest to the center of Oakland, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Operation Hope - Memph TN - Poplar Av

    6815 Poplar Ave Ste 100, Memphis · 19 miles away

    • Budget and financial counseling
    • Budget and credit workshops
    • and 2 more
    (571) 544-2282

  • United Housing, Inc.

    2750 Colony Park Dr, Memphis · 24 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 3 more
    (901) 272-1122

  • NSC (naca Counseling Subsidiary) - Memphis, TN

    2400 Poplar Ave. Suite 500, Memphis · 26 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (901) 348-0115

All counseling agencies in Tennessee

Help in Spanish near Oakland

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Oakland

In HUD’s record, no housing authority with an office in Fayette County is named for Oakland or Fayette County.

One other authority has an office in Fayette County: see the list Source: HUD

Cities

Nearby cities

The cities closest to Oakland, with the typical home value.

Everything about Fayette County Housing in Tennessee

Neighboring counties

If Fayette County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Oakland.

All guides
A father and mother walk their son by the hand down the sidewalk.

Questions

Housing questions about Oakland

Short answers with the numbers for Oakland and all of Fayette County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Oakland?

The typical home value in Oakland is $319,100, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Fayette County it is $340,800.

How much does it cost to rent in Oakland?

Typical rent in Oakland is $1,992 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Fayette County is $1,301.

What is the FHA loan limit in Oakland?

Oakland uses the FHA limit for all of Fayette County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Oakland?

The typical homeowner in Oakland pays $1,200 a year, according to the U.S. Census Bureau. That is 0.38% of the home’s value; in Fayette County, the rate is 0.33%.

Where can I find free help to buy or rent in Oakland?

We found no HUD-approved counseling agencies with an office in Fayette County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).