New Market, TN
Population 1,789 · Tennessee
About New Market, TN
New Market is a small town located in Tennessee with a population of 1,789 residents according to the latest US Census Bureau American Community Survey data. The median household income is $70,913 per year, which is 6% below the national median of $75,149. The median age of 41.8 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in New Market features a median home value of $166,400, which is 32% below the national median of $244,900. This positions New Market in a moderately priced market relative to the rest of the country. Median monthly rent is $946, 19% below the national average of $1,163/month. Of the 650 total housing units, 75% are owner-occupied (456 units) and 25% are renter-occupied (155 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in New Market shows an unemployment rate of 1.9%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 5.2%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in New Market have an average one-way commute time of 25.3 minutes.
Education & Demographics
25.5% of New Market residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 6.0% White, 0.1% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 3.6% of the population being foreign-born.
Cost of Living in New Market, TN
Compared to national averages, New Market has a median household income of $70,913 (6% below the national median of $75,149). Home values average $166,400, which is 32% below the national median. Monthly rent at $946 is 19% below the US average of $1,163. Within Tennessee, New Market's income is 13% above the state average of $62,849, and home values are 22% below the state median of $214,371.
Why Live in New Market, TN?
New Market offers affordable housing with a median home value of $166,400, below the US average of $244,900, and rent that’s lower than the national average at $946/month, and a strong job market with an unemployment rate of just 1.9%. Additionally, the city features a low poverty rate of 5.2%, better than the national average.
Potential considerations include median household income ($70,913) that falls below the national average. However, New Market’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
New Market has a population of 1,789 with a median age of 41.8 years. Compare New Market with other cities to see how it stacks up, or explore all cities in Tennessee.
Similar Cities Near New Market
Cities in Tennessee with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Celina | 1,782 | $33,430 | $167,600 | Compare |
| Mowbray Mountain | 1,797 | $96,607 | $365,600 | Compare |
| Cowan | 1,777 | $37,295 | $122,500 | Compare |
| Cross Plains | 1,809 | $72,734 | $295,000 | Compare |
| McEwen | 1,814 | $71,563 | $152,700 | Compare |
| Walden | 1,762 | $135,000 | $600,900 | Compare |
| Monteagle | 1,818 | $53,005 | $299,400 | Compare |
| Jellico | 1,821 | $41,111 | $143,000 | 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 New Market With Other Cities
Frequently Asked Questions about New Market
What is the population of New Market, TN?
The population of New Market, TN is 1,789 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Tennessee.
What is the median household income in New Market?
The median household income in New Market, TN is $70,913 per year, which is 6% below the national median of $75,149.
What is the median home value in New Market?
The median home value in New Market, TN is $166,400, which is 32% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in New Market?
The median monthly rent in New Market, TN is $946, which is 19% below the national average of $1,163/month.
What is the unemployment rate in New Market?
The unemployment rate in New Market, TN is 1.9%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is New Market, TN a good place to live?
New Market offers a moderate cost of living, affordable housing, and a strong job market. With a population of 1,789 and a median age of 41.8, the city appeals to a broad range of residents.
How educated is New Market, TN?
25.5% of residents in New Market aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in New Market?
Key cost-of-living indicators for New Market, TN: median home value is $166,400 (32% below national), median rent is $946/month, and median household income is $70,913. The home-value-to-income ratio is 2.3x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in New Market?
The poverty rate in New Market, TN is 5.2%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is New Market, TN?
New Market's population is 6.0% White, 0.1% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 1.3% two or more races. 3.6% of residents are foreign-born.