Housing costs in Elmwood?
A typical home costs
$242,500, which is 28.3% less expensive than the national average of
$338,100 and 12.6% less expensive than the average Tennessee home, at
$277,400. Renting a two-bedroom unit in Elmwood costs
$780 per month, which is 45.5% cheaper than the national average of
$1,430 and 37.2% cheaper than the state average of
$1,070.
Can I afford Elmwood?
To live comfortably in Elmwood (zip 38560), Tennessee, a minimum annual income of
$46,440 for a family, and
$23,600 for a single person is recommended.
What does A.I. say about Elmwood?
38560 Elmwood, TN has a relatively low cost of living compared to other areas. The median home value in 38560 Elmwood is about $80,000, which is much lower than the national median of $184,700. Additionally, utility costs are fairly reasonable at an average of just over $140 per month. Food costs are also relatively low, with groceries costing around 13% less than the national average. Overall, the cost of living in 38560 Elmwood makes it an attractive option for those looking for a more affordable lifestyle.