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These days, finding an affordable place to live in the Commerce area can be challenging. Home prices in Commerce are now at a median cost of $331,004, higher than the Tennessee average of $315,131.
The average cost of rent is $1,084/mo in Commerce, primarily driven by the current value of real estate in the Commerce area. In Commerce, 14.65% of households rent, and 62.79% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Commerce is $6,529 per month. Households that rent pay about 16.60% of their income on rent here. Commerce’s most expensive areas are in the southeastern regions, while the cheapest areas are in the eastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Watertown, TN: higher priced homes
- Grant, TN: less expensive homes
- Shop Springs, TN: equally priced homes
- Brush Creek, TN: less expensive homes
- Sykes, TN: less expensive homes
- Alexandria, TN: less expensive homes
- Bellwood, TN: equally priced homes
- Rock City, TN: less expensive homes
- Prosperity, TN: less expensive homes
- Tanglewood, TN: less expensive homes
Cities with Similar Populations
- Rochester, KY: less expensive homes
- Benedict, NE: less expensive homes
- Bergland, MI: less expensive homes
- Bern, KS: less expensive homes
- Bethel, KY: less expensive homes
- Beulahville, VA: higher priced homes
- Bevinsville, KY: less expensive homes
- Bible Hill, TN: less expensive homes
- Wheeling, IN: less expensive homes
- Bigpatch, WI: less expensive homes
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