Quick facts: New market, TN

Quick Facts

99.5
Cost of Living
below US average
1,378
Population
2.9
Crime Rate per 1000
below US average
$66,324
Median Income
below US average
$374,900
Median House Price
above US average
$1950.0
Average Rent
above US average
6%
Poverty Rate
below US average
3.0%
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 $66,324.

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Income Needed to Buy

βœ— Stretch
$118k/year
Based on $374,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $118k vs median $66,324
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Income Needed to Rent

⚠ Stretch
$84k/year
Based on $1950.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $84k vs median $66,324
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for New market, TN

New Market, Tennessee, is a charming rural community located in Jefferson County, nestled in the eastern part of the state. With a small population, this town boasts a close-knit, friendly atmosphere perfect for those seeking a quieter, slower-paced lifestyle. Surrounded by scenic landscapes, including the beautiful foothills of the Great Smoky Mountains, residents enjoy a variety of outdoor recreational activities such as hiking, fishing, and camping. Local attractions include historic sites, quaint shops, and family-friendly venues. The nearby Douglas Lake offers opportunities for boating and water sports, while the city of Knoxville is just a short drive away, providing access to urban amenities, cultural experiences, and entertainment options. New Market’s community spirit is evident through local events and gatherings that bring neighbors together, promoting a sense of belonging. The area is known for its beautiful changing seasons, making it an attractive spot for nature lovers and those looking to escape the hustle and bustle of city life. Overall, New Market presents a unique blend of rural charm and convenient access to larger city attractions.

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