Cost of Living in Monroe County, Tennessee
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Monroe County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Monroe County ranks #1,408 of 3,144 counties for affordability (top 45%)
Data Story
About Cost of Living in Monroe County, Tennessee
Monroe delivers best affordability in the region
Monroe County renters spend just 14.8% of their income on housing—the lowest ratio in this eight-county cluster and well below the national average. Despite a median household income of $56,648 below national norms, residents enjoy exceptional housing value.
Monroe ranks among Tennessee's most affordable counties
Monroe County's 14.8% rent-to-income ratio places it in Tennessee's affordability top tier, far outpacing the state average of 17.6%. The median rent of $699 is the lowest among regional peers and 19% below the state median of $860.
Cheapest rents in the entire regional comparison
Monroe's $699 median rent undercuts even McNairy County's $706 and McMinn's $792, making it the rental bargain of the region. Median home values of $199,700 remain accessible, offering both renters and buyers strong value propositions.
Renters and owners both claim Tennessee value wins
Renters pay $699 and owners $629 monthly from a median household income of $56,648, the lowest per-capita income in this cluster. Yet both groups keep housing costs under 15% of income—a remarkable affordability achievement.
Monroe is the region's affordability winner
Whether renting or buying, Monroe County delivers the lowest housing costs and best affordability ratios in this entire regional comparison. If you're relocating on a tight budget, Monroe outperforms every neighboring county on price and value metrics.
Cost of Living Advisory: Monroe County
Affordability Verdict
Housing in Monroe County is affordable. The median rent is $699/month against a median household income of $56,648, putting rent at 14.8% of income.
Rent vs. Own
Renters in Monroe County pay $699/month on average, compared to $629/month for homeowners. This market favors buyers by about 10%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $27,960/year. For owner costs at the 28% rule, the required income is roughly $26,957/year. With a median household income of $56,648, most households can comfortably afford rent here. Notably, 28.0% of renter households in Monroe County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Monroe County sits 7% less expensive than Pickett County ($755/month) in terms of median gross rent.
Affordability Calculator
See how your income compares to housing costs in Monroe County
Rent Burden
14.8%
of gross income
Max Housing (28% Rule)
$1,322
per month
Owner Cost Burden
13.3%
of gross income
The median home in Monroe County may be a stretch
Median home value is $199,700. Estimated monthly cost: $1,594 vs. your max of $1,322.
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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