Quick facts: Gallatin, TN

Quick Facts

103.2
Cost of Living
above US average
48,194
Population
9.46
Crime Rate per 1000
below US average
$68,548
Median Income
below US average
$449,990
Median House Price
above US average
$2095.99
Average Rent
above US average
13%
Poverty Rate
above US average
3.3%
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 $68,548.

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Income Needed to Buy

βœ— Stretch
$141k/year
Based on $449,990 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $141k vs median $68,548
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Income Needed to Rent

⚠ Stretch
$90k/year
Based on $2095.99/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $90k vs median $68,548
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Gallatin, TN

Gallatin, Tennessee, is a charming city located in Sumner County, just northeast of Nashville. Known for its rich history and vibrant community, Gallatin offers a blend of small-town charm and modern amenities. The city is nestled alongside Old Hickory Lake, providing residents and visitors with ample opportunities for recreational activities such as boating, fishing, and hiking. Gallatin's historic downtown area features a variety of shops, restaurants, and cultural attractions, showcasing its southern hospitality and local flavor. The city is home to several parks, including the well-maintained Station Camp Greenway, which offers scenic trails for walking and biking. Economically, Gallatin has been experiencing growth, attracting new businesses while maintaining its unique character. The local education system is further enhanced by the presence of Volunteer State Community College, providing residents with access to higher education. With a friendly atmosphere, a strong sense of community, and proximity to the larger city of Nashville, Gallatin is an appealing location for both families and individuals seeking a peaceful yet engaged lifestyle.

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