Quick facts: Erwin, TN

Quick Facts

99.5
Cost of Living
below US average
5,953
Population
6.05
Crime Rate per 1000
below US average
$40,670
Median Income
below US average
$295,000
Median House Price
above US average
$1328.57
Average Rent
below US average
12%
Poverty Rate
above US average
4.5%
Unemployment Rate
above 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 $40,670.

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Income Needed to Buy

βœ— Stretch
$93k/year
Based on $295,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $93k vs median $40,670
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Income Needed to Rent

⚠ Stretch
$57k/year
Based on $1328.57/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $57k vs median $40,670
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Erwin, TN

Erwin, Tennessee, located in Unicoi County, is a small town known for its quaint charm and scenic beauty. Nestled in the foothills of the Appalachian Mountains, Erwin offers stunning views and access to outdoor activities such as hiking, fishing, and exploring nearby parks. The town is rich in history, with landmarks like the Erwin Depot, which reflects its past as a vital railroad town. Erwin's community is tight-knit, with events and festivals that foster a sense of belonging among residents. The town’s economy is primarily driven by local businesses, manufacturing, and agriculture. Erwin is also known for its proximity to larger cities like Johnson City and Asheville, providing residents with access to additional amenities and services while retaining the tranquility of a small-town atmosphere. With a population of around 5,000, Erwin maintains a friendly and welcoming environment. Educational opportunities are provided through local schools, and there are recreational facilities and parks that cater to families. Overall, Erwin is a picturesque location that embodies the spirit of East Tennessee living.

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