Quick facts: Fayetteville, TN

Quick Facts

99.5
Cost of Living
below US average
7,056
Population
40.67
Crime Rate per 1000
above US average
$45,391
Median Income
below US average
$311,000
Median House Price
above US average
$1200.0
Average Rent
below US average
15%
Poverty Rate
above US average
4.2%
Unemployment Rate
above 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 $45,391.

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Income Needed to Buy

βœ— Stretch
$98k/year
Based on $311,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $98k vs median $45,391
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Income Needed to Rent

⚠ Stretch
$51k/year
Based on $1200.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $51k vs median $45,391
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Fayetteville, TN

Fayetteville, located in Lincoln County, Tennessee, is a charming small city known for its historical significance and vibrant community. Situated approximately 90 miles south of Nashville, Fayetteville is rich in Southern culture, featuring a mix of quaint shops, local eateries, and picturesque landscapes. The city is home to notable attractions such as the Lincoln County Courthouse, which reflects its antebellum architecture, and the annual Fayetteville Dogwood Festival that celebrates the blooming dogwood trees with food, art, and entertainment. Fayetteville’s economy is primarily driven by agriculture, manufacturing, and retail, with a strong emphasis on community engagement and support for local businesses. The city offers a blend of recreational opportunities, including parks, walking trails, and sports facilities. Residents enjoy a close-knit community atmosphere, complemented by various events throughout the year. Fayetteville also boasts a strong educational system, with access to public schools and nearby higher education institutions. Overall, Fayetteville is an inviting place to live, work, and visit, characterized by its welcoming spirit and beautiful surroundings.

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