1st Advantage MortgageFayette County households have a median income of $88,456 and median rent of $902 a month (ACS 2020 to 2024). A loan makes sense only if its total cost beats your alternatives and the payment fits your budget. Check the lender's Tennessee license first.
On this page
- Fayette County at a glance
- How much Fayette County households make
- Employment and commuting in Fayette County
- Fayette County housing compared with Tennessee
- Counties near Fayette County
- Towns and communities in Fayette County
- A Fayette County household budget, worked through
- Reading the Fayette County data as a borrower
- People and households in Fayette County
- Steps before you apply in Fayette County
- Checking a lender's license in Tennessee
- Related local guides
- Frequently asked questions
Fayette County at a glance
Roughly 43,267 residents live in Fayette County, Tennessee, 37th by population among the state's 95 counties and county equivalents. Packed into 704 square miles, that is close to 61 residents for every square mile of land. For statistical purposes it belongs to the Memphis, TN-MS-AR metro area, as delineated by the Office of Management and Budget in July 2023. Of the 10 Census places inside Fayette County, Oakland leads by population with about 9,979; 10 of the 10 are incorporated.
How much Fayette County households make
Fayette County households have a median income of $88,456 (ACS 2020 to 2024), which ranks 5th of 95 in Tennessee.
| Households earning | Fayette County | +/- vs Tennessee |
|---|---|---|
| Under $35,000 | 20.5% | -3.6 pts |
| $35,000 to $99,999 | 36.1% | -6.3 pts |
| $100,000 to $199,999 | 32.7% | +8.2 pts |
| $200,000 or more | 10.7% | +1.8 pts |
The spread is wide: 43% of Fayette County households make $100,000 or more, and 20% make less than $35,000. The poverty rate is 10.3%, 3 points lower than the state's 13.8%. If your income is irregular, as it often is with tips, gig work or seasonal jobs, plan around your leaner months rather than the Fayette County median.
Employment and commuting in Fayette County
Education and health care employs 19% of working residents, the largest share; manufacturing is next with 13%. Transportation, warehousing and utilities stands out: 11% of workers here, versus 7% statewide. The survey's unemployment rate for Fayette County averages 4.8% over 2020 to 2024 (state: 4.7%). About 77% drive to work alone and 32% have trips of 45 minutes or more. 5.3% of households have no vehicle.
| Sector | Fayette County | Compared with Tennessee |
|---|---|---|
| Education and health care | 18.9% | -3.5 pts |
| Manufacturing | 13.0% | +0.5 pts |
| Retail trade | 11.6% | +0.1 pts |
| Transportation, warehousing and utilities | 10.9% | +3.8 pts |
| Professional and administrative services | 10.2% | -0.5 pts |
| Construction | 8.4% | +1.3 pts |
If your hours swing with the season or with overtime, size a loan payment against your base pay, not your best month.
Fayette County housing compared with Tennessee
Renters in Fayette County pay a median of $902 a month, 24% below the Tennessee figure of $1,189. Rent takes 30% or more of income for 46% of renter households here. Home values center on $340,800, or 3.9 years of median income. The ownership rate is 81%. Median construction year: 1999.
| Measure | Fayette County | Tennessee | Median U.S. county |
|---|---|---|---|
| Median gross rent | $902/mo | $1,189/mo | $877/mo |
| Median home value | $340,800 | $286,700 | $185,300 |
| Owners | 81% | 67% | 75% |
| Rent-burdened renters | 46% | 49% | 45% |
| Burdened owners | 25% | 25% | n/a |
| Mobile homes | 9.6% | 8.1% | n/a |
In an owner-heavy county like Fayette County, many borrowers can also choose a home equity loan or line of credit. Those can price lower but put the house on the line, so compare the two in writing; our personal loan vs. HELOC guide walks through it.
Counties near Fayette County
The six counties whose centers lie closest to Fayette County's, from 24 to 30 miles away. Tipton County leads the group on income ($74,127), Benton County trails ($46,016), and Fayette County out-earns 6 of the six. The list crosses into Mississippi, where different lending rules and regulators apply.
| Nearby county | Center to center | Household income | Gross rent | Owner-occupied |
|---|---|---|---|---|
| Fayette County | - | $88,456 | $902/mo | 81% |
| Hardeman County, TN | 24 mi | $46,069 | $812/mo | 72% |
| Shelby County, TN | 27 mi | $63,767 | $1,232/mo | 54% |
| Haywood County, TN | 28 mi | $50,472 | $762/mo | 61% |
| Tipton County, TN | 28 mi | $74,127 | $1,013/mo | 76% |
| Benton County, MS | 29 mi | $46,016 | $731/mo | 86% |
| Marshall County, MS | 30 mi | $53,458 | $868/mo | 79% |
Towns and communities in Fayette County
10 Census places fall mainly inside Fayette County; the 10 biggest are below. They account for 19,818 residents, leaving about 54% of the county in unincorporated, unnamed areas. Incomes vary by place: $130,100 at the median in Piperton, $30,208 in Gallaway. No Fayette County place has a separate guide yet; this county page serves all 10.
| Place in county | Status | Population (ACS) | Median HH income | Monthly rent | Distance from center |
|---|---|---|---|---|---|
| Oakland | town | 9,979 | $97,798 | $1,992 | 7 mi |
| Somerville | town | 3,466 | $44,310 | $710 | 3 mi |
| Piperton | city | 2,569 | $130,100 | $1,083 | 15 mi |
| Rossville | town | 1,142 | $120,357 | n/a | 14 mi |
| Moscow | city | 768 | $51,250 | $794 | 9 mi |
| Gallaway | city | 609 | $30,208 | $455 | 14 mi |
| Williston | city | 480 | $76,875 | $1,091 | 3 mi |
| Grand Junction | city | 435 | $62,083 | $829 | 16 mi |
| Braden | town | 308 | $82,115 | $1,200 | 15 mi |
| La Grange | town | 62 | $56,250 | n/a | 14 mi |
A Fayette County household budget, worked through
Here is the Fayette County median household run through a simple DTI check. Your numbers will differ.
- Median income divided by twelve: $7,371 before taxes
- Median rent: $902, or 12 cents of every gross dollar
- $2,047: what a 40% ratio leaves once rent is paid
Subtract what you already pay on other debts. A new payment should fit in what remains, with some to spare.
Reading the Fayette County data as a borrower
A few patterns in the Fayette County data, and the practical point behind each:
- Commuter costs. 32% drive 45 minutes or more. Compare shop financing with a loan, and keep a small repair fund.
- Retirees. At a median age of 47.4, many borrowers here rely on award letters as proof of income; favor no prepayment penalty.
- Strong incomes, long terms. 43% of Fayette County households earn $100,000+. The risk is a term that outlasts the need.
- Rent squeeze. 46% of renters spend 30%+ of income on rent; borrow only if the loan cuts what you pay overall.
People and households in Fayette County
Degree holders: 27% of adults over 25. The uninsured rate is 7.4%, against 10.0% for Tennessee.
| Measure | Fayette County | Tennessee statewide | Typical U.S. county |
|---|---|---|---|
| Median age | 47.4 | 38.9 | 41.5 |
| Bachelor's or higher | 27.3% | 31.1% | 22.2% |
| No high school diploma | 8.3% | 10.0% | n/a |
| No health insurance | 7.4% | 10.0% | 7.8% |
| No vehicle | 5.3% | 5.2% | 5.4% |
| Work from home | 12.0% | 12.9% | 8.7% |
| Poverty rate | 10.3% | 13.8% | 13.2% |
| Unemployment (ACS) | 4.8% | 4.7% | 4.4% |
| Commute length | Fayette County |
|---|---|
| Under 15 min | 17.4% |
| 15 to 29 min | 21.6% |
| 30 to 44 min | 28.6% |
| 45 to 59 min | 21.5% |
| 60+ min | 10.9% |
Steps before you apply in Fayette County
Steps that save money for Fayette County residents:
- Size the loan to the bill, not to the most a lender offers.
- Line up offers side by side: APR, fees in dollars, total cost.
- Check the license, then the reviews, then the offer.
- Keep a small cushion so one surprise bill does not mean another loan.
Checking a lender's license in Tennessee
The Tennessee Department of Financial Institutions is the place to verify any lender's Tennessee license. Problems with a lender can also go to the CFPB. Statewide data and rules: Tennessee guide.
Related local guides
The Tennessee guide covers the whole state.
Frequently asked questions
How much do households in Fayette County earn?
The median is $88,456; 43% earn $100,000 or more and 20% under $35,000. A lender uses your own documented income, not this figure.
How does Fayette County rent compare with Tennessee?
$902 locally versus $1,189 for the state, 24% below.
I own my home in Fayette County. Personal loan or HELOC?
A HELOC uses the house as collateral; a personal loan usually does not. With 81% of homes owner-occupied here, many readers can compare both in writing.
What are the biggest places in Fayette County?
By population: Oakland, Somerville, Piperton, Rossville, Moscow. The county has 10 Census places in all.
Are Fayette County applicants treated differently?
No. Everyone answers the same questions and is screened on the same objective points; lending partners set their own criteria under fair-lending laws.