Farragut, TN
Population 24,309 · Tennessee
About Farragut, TN
Farragut is a mid-sized city located in Tennessee with a population of 24,309 residents according to the latest US Census Bureau American Community Survey data. The median household income is $142,402 per year, which is 89% above the national median of $75,149. The median age of 45.7 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Farragut features a median home value of $513,100, which is 110% above the national median of $244,900. This places Farragut in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,691, 45% above the national average of $1,163/month. Of the 9,104 total housing units, 85% are owner-occupied (7,662 units) and 15% are renter-occupied (1,325 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Farragut shows an unemployment rate of 2.5%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 2.9%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Farragut have an average one-way commute time of 21.8 minutes.
Education & Demographics
65.1% of Farragut residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 1.5% White, 0.5% Hispanic or Latino, 0.0% Black or African American, and 1.4% Asian residents, with 7.1% of the population being foreign-born.
How Farragut Ranks in Tennessee
Cost of Living in Farragut, TN
Compared to national averages, Farragut has a median household income of $142,402 (89% above the national median of $75,149). Home values average $513,100, which is 110% above the national median. Monthly rent at $1,691 is 45% above the US average of $1,163. Within Tennessee, Farragut's income is 127% above the state average of $62,849, and home values are 139% above the state median of $214,371.
Why Live in Farragut, TN?
Farragut offers a strong local economy with a median household income of $142,402, well above the national average, and a strong job market with an unemployment rate of just 2.5%, and a well-educated community where 65.1% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 2.9%, better than the national average, and short commute times averaging just 21.8 minutes.
Potential considerations include a competitive housing market where the typical home costs $513,100. However, Farragut’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Farragut has a population of 24,309 with a median age of 45.7 years. Compare Farragut with other cities to see how it stacks up, or explore all cities in Tennessee.
Similar Cities Near Farragut
Cities in Tennessee with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Shelbyville | 24,125 | $52,290 | $224,700 | Compare |
| East Ridge | 22,034 | $55,988 | $182,500 | Compare |
| Bristol | 27,490 | $55,007 | $182,500 | Compare |
| Tullahoma | 20,672 | $60,855 | $228,800 | Compare |
| Springfield | 18,985 | $58,741 | $235,200 | Compare |
| Sevierville | 18,105 | $55,106 | $264,000 | Compare |
| Morristown | 30,983 | $44,811 | $155,700 | Compare |
| Goodlettsville | 17,598 | $65,898 | $355,000 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Tennessee
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Farragut With Other Cities
Frequently Asked Questions about Farragut
What is the population of Farragut, TN?
The population of Farragut, TN is 24,309 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Tennessee.
What is the median household income in Farragut?
The median household income in Farragut, TN is $142,402 per year, which is 89% above the national median of $75,149.
What is the median home value in Farragut?
The median home value in Farragut, TN is $513,100, which is 110% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Farragut?
The median monthly rent in Farragut, TN is $1,691, which is 45% above the national average of $1,163/month.
What is the unemployment rate in Farragut?
The unemployment rate in Farragut, TN is 2.5%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Farragut, TN a good place to live?
Farragut offers above-average incomes, a competitive housing market, and a strong job market. With a population of 24,309 and a median age of 45.7, the city appeals to established professionals and retirees.
How educated is Farragut, TN?
65.1% of residents in Farragut aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Farragut?
Key cost-of-living indicators for Farragut, TN: median home value is $513,100 (110% above national), median rent is $1,691/month, and median household income is $142,402. The home-value-to-income ratio is 3.6x, a moderate figure by national standards.
What is the poverty rate in Farragut?
The poverty rate in Farragut, TN is 2.9%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Farragut, TN?
Farragut's population is 1.5% White, 0.5% Hispanic or Latino, 0.0% Black or African American, 1.4% Asian, and 0.9% two or more races. 7.1% of residents are foreign-born.