Three Way, TN
Full City Profile · Tennessee · Madison County County
4.5
/5.0
A+
Excellent
1,965
Population
438/sq mi density
$91,845
Median Income
$42,093 per capita
$231,200
Home Value
$283,639 Zillow
$1,650
Median Rent
23.6% income on rent
59°F
Avg Temperature
A+
Overall
4.5 / 5.0
Strong
A
Economy
4.3 / 5.0
$91,845 median income, 5.7% unemployment
A+
Affordability
5.0 / 5.0
$231,200 home value, $1,650/mo rent
A
Education
4.2 / 5.0
39.4% bachelor's degree or higher
Housing Overview
Median Home Value
$231,200
18% below
US avg: $281,900
Median Rent
$1,650/mo
42% above
US avg: $1,163/mo
Homeownership Rate
92.9%
42% above US avg (65.4%)
Total Housing Units
805
Median year built: 1996
Home Value by Source
Census Median
$231,200
Zillow (ZHVI)
$283,639
Redfin Median Sale
$255,700
Median Sale Price
$255,700
Median List Price
$319,900
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
92.9%
Owner-Occupied
7.1%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$882/mo
1 Bedroom
$924/mo
2 Bedroom
$1,118/mo
3 Bedroom
$1,445/mo
4 Bedroom
$1,644/mo
Census median rent:
$1,650/mo
Market Indicators (Redfin)
Median Sale Price
$255,700
Median Days on Market
118 days
Sale-to-List Ratio
1.0%
Buyers market
Homes Sold
4
Price Drops
23.1%
of listings with price reduction
Price Per Sq Ft
$180
Active Inventory
13
homes for sale
Affordability & Housing Stock
Rent Burden
23.6%
of renters spending 30%+ of income on housing
24% below US avg (31.0%)
Median Year Built
1996
Average age of housing stock: 30 years
Homeownership Rate
92.9%
Complete Housing Data
Home Values
| Census Median Value | $231,200 |
| Zillow Home Value (ZHVI) | $283,639 |
| Redfin Median Sale | $255,700 |
| Median Sale Price | $255,700 |
| Median List Price | $319,900 |
| Price Per Sq Ft | $180 |
Rent
| Census Median Rent | $1,650 |
| FMR Studio | $882 |
| FMR 1-Bedroom | $924 |
| FMR 2-Bedroom | $1,118 |
| FMR 3-Bedroom | $1,445 |
| FMR 4-Bedroom | $1,644 |
Market
| Days on Market | 118 |
| Sale-to-List Ratio | 1.0% |
| Price Drops | 23.1% |
| Homes Sold | 4 |
| Active Inventory | 13 |
| Price Per Sq Ft | $180 |
Ownership & Stock
| Owner-Occupied | 92.9% |
| Renter-Occupied | 7.1% |
| Homeownership Rate | 92.9% |
| Total Housing Units | 805 |
| Median Year Built | 1996 |
| Rent Burden | 23.6% |