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Obion town, TN

ZIP 38240 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Working ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 38240

Median Home Value
$98,900
Median Rent
$488
Affordability Snapshot
$27,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$635/mo PITI).

10%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

1.7x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

16.9 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 38240 in Obion town, TN, a household would need roughly $27,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $635. That sits below the local median household income ($58,468), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 14% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
65.2%-0% vs US avg
x
Vacancy Rate
13.6%+32% vs US avg
x
Broadband Access
87.6%+1% vs US avg
x
4+ Bedrooms
1.6%-89% vs US avg
x
Built Pre-1939
3.5%-73% vs US avg
x
Built Post-2014
1.8%-75% vs US avg
x
Rent Burden >30%
15.8%-68% vs US avg
x
Mortgage-Free
64.6%+69% vs US avg
x
$98,900
Home Value
$488
Rent
1977
Year Built
2012
Moved In

Residents have lived here since ~2012 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached79.9%
  • 1-unit attached1.6%
  • 2-9 units7.1%
  • 10+ units1.5%
  • Mobile home & other9.8%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$98,900
Median rent$488
Owner-occupied65.2%
Vacant13.6%
Price-to-income1.7x
Est. income to buy$27,000