Quick facts: Germantown, TN

Quick Facts

99.5
Cost of Living
below US average
40,816
Population
17.0
Crime Rate per 1000
below US average
$140,429
Median Income
above US average
$459,000
Median House Price
above US average
$3034.47
Average Rent
above US average
4%
Poverty Rate
below US average
2.9%
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 $140,429.

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Income Needed to Buy

βœ— Stretch
$144k/year
Based on $459,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $144k vs median $140,429
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Income Needed to Rent

βœ“ Affordable
$130k/year
Based on $3034.47/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($140,429) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Germantown, TN

Germantown, Tennessee, is a vibrant suburb located just northeast of Memphis. Known for its family-friendly environment, this affluent community offers a blend of suburban charm and urban convenience. Germantown boasts highly regarded public schools, making it a popular choice for families. The city features a variety of parks and recreational facilities, including the expansive Germantown Parks and Recreation, providing residents with ample opportunities for outdoor activities. The historic downtown area includes boutiques, restaurants, and cultural venues that highlight the city’s local flavor. Germantown also hosts several annual events, such as the Germantown Festival, which celebrates community spirit and showcases local arts and crafts. The city places a strong emphasis on community involvement and offers various programs and activities through its community centers. With its low crime rate, well-maintained neighborhoods, and strategic location near the amenities of Memphis, Germantown presents an attractive option for those seeking a balanced lifestyle of tranquility and accessibility. Its commitment to quality living and community development makes it one of the premier suburbs in the Memphis area.

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