Quick facts: Millington, TN

Quick Facts

99.5
Cost of Living
below US average
10,442
Population
48.55
Crime Rate per 1000
above US average
$49,543
Median Income
below US average
$288,990
Median House Price
above US average
$1543.45
Average Rent
above US average
12%
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 $49,543.

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Income Needed to Buy

βœ— Stretch
$91k/year
Based on $288,990 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $91k vs median $49,543
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Income Needed to Rent

⚠ Stretch
$66k/year
Based on $1543.45/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $66k vs median $49,543
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Millington, TN

Millington is a city located in Shelby County, Tennessee, just north of Memphis. It has a rich history and was originally established as a railroad town in the 19th century. Today, Millington is known for its friendly community atmosphere and growing suburban neighborhoods. One of the city’s highlights is the Naval Support Activity Mid-South, which plays a significant role in the local economy. The city also boasts several parks, such as the scenic Millington Naval Base Marina, which offers recreational opportunities including fishing and boating. Millington is home to a variety of local businesses, dining options, and annual events that foster community spirit. The local school district is focused on providing quality education, making it an attractive place for families. Overall, Millington combines small-town charm with proximity to the urban amenities of Memphis, making it a desirable location for those looking to balance a quiet lifestyle with access to city life.

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