Quick facts: Petersburg, TN

Quick Facts

99.5
Cost of Living
below US average
542
Population
11.07
Crime Rate per 1000
below US average
$42,500
Median Income
below US average
$349,000
Median House Price
above US average
$1602
Average Rent
above US average
Poverty rate Data is updating, will be available soon
Unemployment Data is updating, will be available soon

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 $42,500.

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Income Needed to Buy

βœ— Stretch
$109k/year
Based on $349,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $109k vs median $42,500
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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 $42,500
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Petersburg, TN

Petersburg, Tennessee, is a small town nestled in the heart of rural Middle Tennessee, situated primarily in Marshall County. With a population of just over 2,000 residents, it exudes a charming small-town feel, making it an inviting place for families and individuals seeking a quieter lifestyle. Surrounded by lush countryside and rolling hills, Petersburg offers a picturesque setting for outdoor enthusiasts. The town is close to several parks and recreational areas where residents can enjoy activities such as hiking, fishing, and picnicking. The local community is tight-knit, with numerous events throughout the year, fostering a strong sense of belonging among residents. Petersburg's economy is primarily driven by agriculture, a nod to its rural roots. Local businesses and services cater to the needs of the community, including shops, cafes, and schools. While it maintains its tranquility, Petersburg is conveniently located near larger cities like Lewisburg and Shelbyville, providing easy access to additional amenities and employment opportunities. Overall, Petersburg embodies the essence of small-town living, blending natural beauty with a friendly community atmosphere.

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