Millington, TN

Very Low · 67

Tennessee · Population 11,117 · Updated March 2026

$1,059
Median Rent / Month
$51,695
Median Income
$172,800
Median Home Value
$987
Owner Costs / Month

Affordability

How far your income goes in Millington

24.6%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Tennessee

State-level tax rates that affect your costs

0%
Income Tax (Top Rate)
7.0%
Sales Tax
0.64%
Property Tax Rate

Estimated Annual Costs

$12,708
Annual Rent
$0
State Income Tax
$1,106
Property Tax (est.)

Cost of Living Overview

Millington is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 67 (where 100 equals the national median), Millington residents can expect to pay median rent of $1,059/month while earning a median household income of $51,695/year.

The median home value in Millington, TN is $172,800, with typical monthly owner costs around $987 including mortgage, insurance, and taxes. The median rent-to-income ratio of 24.6% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Tennessee has no state income tax, which can represent significant savings compared to high-tax states. Combined with a 7.0% sales tax rate and 0.64% effective property tax rate, the overall tax environment helps keep costs manageable in Millington.

Frequently Asked Questions

Common questions about living costs in Millington

What is the cost of living in Millington, TN?
The cost of living index in Millington, TN is 67 (US average = 100). Median monthly rent is $1,059, median household income is $51,695/year, and the median home value is $172,800.
Is Millington, TN affordable?
Yes, Millington is more affordable than the national average with a cost index of 67. The rent-to-income ratio is 24.6%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Millington, TN?
The median gross rent in Millington, TN is $1,059 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $12,708.
What is the median household income in Millington?
The median household income in Millington, TN is $51,695 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Tennessee?
Tennessee has a top income tax rate of 0%, a sales tax of 7.0%, and an effective property tax rate of 0.64%. Notably, there is no state income tax.