1st Advantage MortgageAbout 72% of Monroe County homes are owner-occupied, and the median household income is $56,895. Your income, debts and credit decide what you qualify for. Get offers in writing, compare the total repaid, and never pay a fee up front.
On this page
- A quick profile of Monroe County
- Work, industries and travel time in Monroe County
- How much Monroe County households make
- Renting and owning in Monroe County
- The counties around Monroe County
- Towns and communities in Monroe County
- People and households in Monroe County
- Borrowing situations common in Monroe County
- Debt-to-income at Monroe County's medians
- Four steps for Monroe County borrowers
- Who licenses lenders for Monroe County residents
- Related local guides
- Frequently asked questions
A quick profile of Monroe County
With an estimated 47,695 residents (ACS 2020 to 2024), Monroe County ranks 34th of 95 in Tennessee for population. Packed into 636 square miles, that is close to 75 residents for every square mile of land. Under the July 2023 OMB definitions, Monroe County is not part of any metropolitan area. Of the 5 Census places inside Monroe County, Madisonville leads by population with about 5,241; 3 of the 5 are incorporated.
Work, industries and travel time in Monroe County
Manufacturing employs 26% of working residents, the largest share; education and health care is next with 20%. Manufacturing stands out: 26% of workers here, versus 13% statewide. ACS puts five-year average unemployment at 4.3% in Monroe County. About 81% drive to work alone and 20% have trips of 45 minutes or more.
| Industry | Share of Monroe County workers | vs Tennessee |
|---|---|---|
| Manufacturing | 25.7% | +13.2 pts |
| Education and health care | 19.6% | -2.8 pts |
| Retail trade | 9.7% | -1.8 pts |
| Professional and administrative services | 7.9% | -2.8 pts |
| Arts, lodging and food service | 7.5% | -1.5 pts |
| Transportation, warehousing and utilities | 7.2% | 0.0 pts |
Where long drives are the norm, a car repair is one of the most common surprise bills. A small repair fund can keep a breakdown from turning into a loan.
How much Monroe County households make
Monroe County households have a median income of $56,895 (ACS 2020 to 2024), which ranks 55th of 95 in Tennessee.
| Yearly household income | Monroe County | Gap to Tennessee |
|---|---|---|
| Under $35,000 | 33.1% | +9.0 pts |
| $35,000 to $99,999 | 42.8% | +0.4 pts |
| $100,000 to $199,999 | 20.7% | -3.8 pts |
| $200,000 or more | 3.5% | -5.5 pts |
About 33% of households earn under $35,000, while 24% clear $100,000. The poverty rate is 15.5%, 2 points higher than the state's 13.8%. The Gini index of income inequality is 0.438 (0 is perfect equality). Income from any regular source can count, including Social Security, pensions and disability benefits, as long as you can document it.
Renting and owning in Monroe County
Median gross rent, utilities included, comes to $714 in Monroe County versus $1,189 statewide. By the Census definition, 52% of Monroe County renters are cost-burdened. Home values center on $227,500, or 4.0 years of median income. Owners occupy 72% of homes. Median construction year: 1991.
| Home costs | Monroe County | Tennessee | U.S. middle county |
|---|---|---|---|
| Median gross rent | $714/mo | $1,189/mo | $877/mo |
| Median home value | $227,500 | $286,700 | $185,300 |
| Owners | 72% | 67% | 75% |
| Rent-burdened renters | 52% | 49% | 45% |
| Burdened owners | 30% | 25% | n/a |
| Mobile homes | 21.5% | 8.1% | n/a |
| Vacant units | 9% | 10% | n/a |
In an owner-heavy county like Monroe 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. Rent pressure is real here, so run any payment through the debt-to-income calculator before you apply.
The counties around Monroe County
Distances run center to center, from Loudon County at 20 miles out to Polk County at 29. Income ranges from $49,684 in Graham County to $84,185 in Loudon County; 4 of these neighbors top Monroe County's median. The list crosses into North Carolina, where different lending rules and regulators apply.
| Neighbor | Distance | Income | Rent | Own |
|---|---|---|---|---|
| Monroe County | - | $56,895 | $714/mo | 72% |
| Loudon County, TN | 20 mi | $84,185 | $1,062/mo | 80% |
| McMinn County, TN | 21 mi | $61,470 | $803/mo | 76% |
| Cherokee County, NC | 24 mi | $53,628 | $813/mo | 84% |
| Graham County, NC | 25 mi | $49,684 | $676/mo | 81% |
| Blount County, TN | 25 mi | $77,365 | $1,090/mo | 77% |
| Polk County, TN | 29 mi | $62,522 | $676/mo | 84% |
Towns and communities in Monroe County
The table lists the 5 largest of 5 Census places in Monroe County, by population. Together all 5 hold about 9,625 people, so roughly 80% of residents live outside any named place. Kahite has the highest median household income on the list ($119,286) and Madisonville the lowest ($39,878), counting places with at least 500 residents. This guide covers each of the 5 places and the rural areas around them.
| Place | Type | Population | Median income | Median rent | From county center |
|---|---|---|---|---|---|
| Madisonville | city | 5,241 | $39,878 | $726 | 8 mi |
| Vonore | town | 2,191 | $58,317 | $1,086 | 10 mi |
| Tellico Plains | town | 1,146 | $45,625 | $639 | 6 mi |
| Kahite | CDP | 892 | $119,286 | n/a | 8 mi |
| Coker Creek | CDP | 155 | n/a | n/a | 13 mi |
People and households in Monroe County
Degree holders: 17% of adults over 25. 11.7% of residents have no health coverage.
| Indicator | Monroe County | All of Tennessee | U.S. county median |
|---|---|---|---|
| Median age | 45.2 | 38.9 | 41.5 |
| Bachelor's or higher | 17.1% | 31.1% | 22.2% |
| No high school diploma | 14.4% | 10.0% | n/a |
| No health insurance | 11.7% | 10.0% | 7.8% |
| No vehicle | 5.5% | 5.2% | 5.4% |
| Work from home | 7.3% | 12.9% | 8.7% |
| Poverty rate | 15.5% | 13.8% | 13.2% |
| Unemployment (ACS) | 4.3% | 4.7% | 4.4% |
| One-way commute | Share of Monroe County workers |
|---|---|
| Under 15 min | 23.1% |
| 15 to 29 min | 33.2% |
| 30 to 44 min | 23.6% |
| 45 to 59 min | 11.2% |
| 60+ min | 8.9% |
Borrowing situations common in Monroe County
A few patterns in the Monroe County data, and the practical point behind each:
- Uninsured care. 12% lack coverage here; nonprofit hospitals must publish an assistance policy, so ask for it first (guide).
- Long drives. With 20% of commutes over 45 minutes, tires and repairs are fixed costs in many Monroe County budgets.
- 22% mobile homes. Many are not titled as real estate, so home-equity options may not apply; an unsecured loan is the usual route.
- Older households. A 45.2 median age means fixed-income borrowing is common; a fixed payment and short term limit risk.
Debt-to-income at Monroe County's medians
Monroe County at the medians, through a lender's eyes (what DTI means):
- Start: $4,741 gross per month ($56,895 / 12)
- 15% goes to median rent ($714)
- $993: what a 36% 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.
Four steps for Monroe County borrowers
Four checks before you sign anything:
- Size the loan to the bill, not to the most a lender offers.
- Collect three written offers and compare APR and total repaid.
- Confirm the lender is licensed in Tennessee.
- Keep a small cushion so one surprise bill does not mean another loan.
Who licenses lenders for Monroe County residents
Consumer lenders serving Monroe County are licensed by the state, not the county; in Tennessee that is the Tennessee Department of Financial Institutions. 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 Monroe County earn?
The median is $56,895; 24% earn $100,000 or more and 33% under $35,000. A lender uses your own documented income, not this figure.
How much is rent in Monroe County?
Median gross rent, utilities included, is $714 a month; 52% of renters spend 30% or more of income on it.
I own my home in Monroe County. Personal loan or HELOC?
A HELOC uses the house as collateral; a personal loan usually does not. With 72% of homes owner-occupied here, many readers can compare both in writing.
I live in a small Monroe County town. Is this my guide?
Yes. If your town has no city guide, this county page is the local one; it covers Madisonville, Vonore, Tellico Plains, Kahite, Coker Creek.
Does my county matter to the questionnaire?
Only your state does. Whether you live in Monroe County or elsewhere in Tennessee, the same rules apply.