Quick facts: Bolivar, TN

Quick Facts

99.5
Cost of Living
below US average
5,194
Population
35.81
Crime Rate per 1000
above US average
$36,348
Median Income
below US average
$195,000
Median House Price
above US average
$783.0
Average Rent
below US average
22%
Poverty Rate
above US average
3.5%
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 $36,348.

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Income Needed to Buy

βœ— Stretch
$61k/year
Based on $195,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $61k vs median $36,348
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Income Needed to Rent

βœ“ Affordable
$34k/year
Based on $783.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($36,348) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Bolivar, TN

Bolivar, Tennessee, is a charming small town located in Hardeman County, about 70 miles east of Memphis. Known for its rich history and Southern hospitality, Bolivar serves as the county seat and has a population of around 5,000 residents. The town features a variety of local shops, restaurants, and historical sites, making it a pleasant place for both residents and visitors. Outdoor enthusiasts can enjoy the nearby parks and recreational areas, including the Hardeman County Recreational Center, which offers sports facilities and community events. The local economy is supported by agriculture, manufacturing, and small businesses. Bolivar also hosts several annual events, such as the annual Hardeman County Fair, which showcases local culture and craftsmanship. Historically, Bolivar has notable landmarks, including the Hardeman County Courthouse, which reflects the town's architectural heritage. Education is prioritized in Bolivar, with schools that serve the community well. Overall, Bolivar is a picturesque small town that embodies the essence of life in rural Tennessee.

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