Since no one knows what Jesus looked like, does it matter having a painting of Jesus Christ hanging on the wall? I don't mind the scenes—Jesus dragging a cross, preaching on a hill, etc— but portraits are not in accordance with scripture. And yes, the bible does have something to say about this:
Therefore from now on we recognize no one according to the flesh; even though we have known Christ according to the flesh, yet now we know Him in this way no longer. (emphasis mine) (2 Cor 5:16)
Isaiah sheds some light on Christ's physical description:
For He grew up before Him like a tender shoot, and like a root out of parched ground; He has no stately form or majesty that we should look upon Him, nor appearance that we should be attracted to Him. He was despised and forsaken of men, a man of sorrows and acquainted with grief; and like one from whom men hide their face. He was despised, and we did not esteem Him. (Isa 53:2-3)
The whole idea of Jesus coming into the world was that He gave up His heavenly glory and became a servant. (Phil 2:6-11) Part of that included his physical appearance. Note again Isaiah words: He has no stately form or majesty...nor appearance that we should be attracted to Him. IOW, Jesus probably looked like a common man. He wasn't some blond-haired, blue-eyed "surfer Jesus," as Matt Slick likes to pointedly remind people.
The NLT translates Isaaih 53:3, We turned our backs on him and looked the other way when he went by. Some are going to argue that this was while Jesus was on his way to the cross, even though the context doesn't support it.
Bottom Line: There's nothing wrong with art that inspires, but it can get carried to the extreme. I've been in homes where people had all kinds of religious paintings, portraits, crucifixes hanging from the rear-view mirrors, plastic Jesus models sitting on the dashboard, and so forth. Yet the people who held them were some of the worst sinners in town. Absolutely devoid of the Spirit.
If you haven't been baptized through faith and repentance and so have the Holy Spirit in you, no picture, Rosary, prayers to Mary, or anything else will save you from your sins. (Acts 2:38; Romans 6:1-6, Galatians 3:26-28, etc)