37040 — Montgomery County, Tennessee Market Snapshot
Housing market data for zip code 37040 in Montgomery County, Tennessee. Updated monthly with median prices, days on market, and more.
Market Sales Data
10 sales in 2026 (year to date)
Median Sale Price
$200,000
Days to Sell
91
Homes Sold
10
Inventory
49
Sale-to-List
98.1%
New Listings
36
Price/SqFt
$171
Pending Sales
9
Conforming Loan Available
Most homebuyers in 37040 can comfortably use conventional financing. The median home price of $200,000 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Market Insights
Market Temperature
With homes sitting for 91 days on average, 37040 favors buyers. There may be opportunities to negotiate below asking price or request seller concessions for closing costs or rate buydowns.
Sale-to-List Ratio
Homes are selling very close to asking price in 37040 (98.1% sale-to-list ratio), indicating accurate pricing by sellers and steady demand.
Conforming Loan Feasibility
Most homebuyers in 37040 can comfortably use conventional financing. The median home price of $200,000 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Loan limits in 37040 are set at the county level.
2026 Loan Limits — Montgomery County
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $832,750 | $541,287 |
| 2 Units | $1,066,250 | $693,050 |
| 3 Units | $1,288,800 | $837,700 |
| 4 Units | $1,601,750 | $1,041,125 |
Affordability Snapshot — Zip 37040
To purchase the median home at $200,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $1,682.
Monthly Payment
$1,682
Income Required
$72,100
Principal & Interest
$1,232/mo
Down Payment (5%)
$10,000
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
Mortgage Calculator
Estimate your monthly payment for a home in 37040.
Estimated Monthly Payment
$1,388
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