38002 — Fayette County, Tennessee Market Snapshot
Housing market data for zip code 38002 in Fayette County, Tennessee. Updated monthly with median prices, days on market, and more.
Market Sales Data
165 sales in 2026 (year to date)
Median Sale Price
$435,460
Days to Sell
31
Homes Sold
165
Inventory
182
Sale-to-List
98.8%
New Listings
248
Price/SqFt
$166
Pending Sales
198
Conforming Loan Available
Most homebuyers in 38002 can comfortably use conventional financing. The median home price of $435,460 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
38002's market is balanced with homes taking an average of 31 days to sell. Buyers have some negotiating room without the pressure of bidding wars.
Sale-to-List Ratio
Homes are selling very close to asking price in 38002 (98.8% sale-to-list ratio), indicating accurate pricing by sellers and steady demand.
Conforming Loan Feasibility
Most homebuyers in 38002 can comfortably use conventional financing. The median home price of $435,460 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 38002 are set at the county level.
2026 Loan Limits — Fayette 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 38002
To purchase the median home at $435,460 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $3,486.
Monthly Payment
$3,486
Income Required
$149,415
Principal & Interest
$2,683/mo
Down Payment (5%)
$21,773
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 38002.
Estimated Monthly Payment
$2,845
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