Housing costs in Elgin?
A typical home costs
$152,000, which is 55.0% less expensive than the national average of
$338,100 and 45.2% less expensive than the average Tennessee home, at
$277,400. Renting a two-bedroom unit in Elgin costs
$770 per month, which is 46.2% cheaper than the national average of
$1,430 and 39.0% cheaper than the state average of
$1,070.
Can I afford Elgin?
To live comfortably in Elgin (zip 37732), Tennessee, a minimum annual income of
$29,160 for a family, and
$25,600 for a single person is recommended.
What does A.I. say about Elgin?
The cost of living in Elgin, TN (zip code 37732) is relatively low compared to the rest of the United States. According to bestplaces.net, the overall cost of living index for Elgin is 77.7, which is 22.3 points lower than the national average. In particular, housing costs are particularly low with a median home price of $87,200 that is 56% lower than the median home price for Tennessee as a whole. The median gross rent for Elgin is also much lower than average at just $589 per month compared to $885 throughout the state. All in all, Elgin offers some very attractive prices when it comes to its cost of living and could be an ideal location for anyone looking to enjoy a more rural lifestyle on a budget.