Quick facts: Cottage grove, TN

Quick Facts

99.5
Cost of Living
below US average
66
Population
75.76
Crime Rate per 1000
above US average
$46,250
Median Income
below US average
$205,000
Median House Price
above US average
$1602
Average Rent
above US average
15%
Poverty Rate
above US average
3.6%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $46,250.

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Income Needed to Buy

βœ— Stretch
$64k/year
Based on $205,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $64k vs median $46,250
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Income Needed to Rent

⚠ Stretch
$69k/year
Based on $1602/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $69k vs median $46,250
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Cottage grove, TN

Cottage Grove is a small town located in the rural area of Henry County, Tennessee. It is known for its charming small-town atmosphere and a close-knit community. Situated near the Tennessee River, this picturesque location offers scenic landscapes and outdoor recreational opportunities, such as fishing, boating, and hiking. The town has a rich agricultural heritage, with many local farms and open spaces surrounding it. Cottage Grove is also characterized by its historic buildings and sites that reflect its early 20th-century origins. The population is relatively small, providing a peaceful living environment that attracts those looking to escape the hustle and bustle of city life. Local amenities include small businesses, parks, and community events that foster a sense of belonging among residents. The town's proximity to larger cities like Paris and Bruceton allows for easy access to additional services and entertainment options, making Cottage Grove an ideal spot for those seeking a serene lifestyle while still being connected to urban conveniences.

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