Cost of Living in Henry County, Tennessee
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Henry County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Henry County ranks #1,237 of 3,144 counties for affordability (top 39%)
Data Story
About Cost of Living in Henry County, Tennessee
Henry County rents above national
Henry County renters spend 18.3% of income on housing, slightly above the national average of roughly 18%. With median household income of $48,540—35% below the national median of $74,755—residents face above-average rent burdens despite modest earnings.
Below-average Tennessee affordability
Henry County's 18.3% rent-to-income ratio exceeds Tennessee's state average of 17.6%, placing it among less affordable counties statewide. The $741 median rent runs 14% below the state average of $860, yet low wages still create strain.
Rents near regional low, wages lower
Henry's $741 rent rivals Hawkins ($744) as among the region's cheapest, yet household income ($48,540) lags both Henderson ($53,471) and Hawkins ($55,278). The county's rent advantage evaporates when income is factored in.
Tight squeeze despite cheap rents
Renters spend $741 monthly while homeowners pay $606—a $135 gap on a median income of just $4,045. Both scenarios leave households with roughly $3,300 after housing for all other expenses.
Cheap rent needs strong paychecks
Henry County's low rents look attractive until you examine median income—at $48,540, wages here are nearly 35% below the nation's median. Before relocating for the affordable housing, confirm your new employer can match or beat current earnings.
Cost of Living Advisory: Henry County
Affordability Verdict
Henry County offers affordable rental housing at a median of $741/month — about 18.3% of the typical household income here.
Rent vs. Own
Renters in Henry County pay $741/month on average, compared to $606/month for homeowners. This market favors buyers by about 18%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $29,640/year. For owner costs at the 28% rule, the required income is roughly $25,971/year. With a median household income of $48,540, most households can comfortably afford rent here. Notably, 24.0% of renter households in Henry County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Tennessee, Henry County is less affordable than McMinn County by roughly 6% ($741/mo vs $792/mo).
Affordability Calculator
See how your income compares to housing costs in Henry County
Rent Burden
18.3%
of gross income
Max Housing (28% Rule)
$1,133
per month
Owner Cost Burden
15.0%
of gross income
The median home in Henry County may be a stretch
Median home value is $145,200. Estimated monthly cost: $1,159 vs. your max of $1,133.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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