Three Way, TN
Population 1,965 · Tennessee
About Three Way, TN
Three Way is a small town located in Tennessee with a population of 1,965 residents according to the latest US Census Bureau American Community Survey data. The median household income is $91,845 per year, which is 22% above the national median of $75,149. The median age of 54.3 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 Three Way features a median home value of $231,200, which is 6% below the national median of $244,900. This positions Three Way in a moderately priced market relative to the rest of the country. Median monthly rent is $1,650, 42% above the national average of $1,163/month. Of the 870 total housing units, 93% are owner-occupied (783 units) and 7% are renter-occupied (60 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Three Way shows an unemployment rate of 5.7%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 5.8%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Three Way have an average one-way commute time of 24.8 minutes.
Education & Demographics
39.4% of Three Way 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 5.3% White, 0.9% Hispanic or Latino, 0.0% Black or African American, and 0.4% Asian residents, with 6.0% of the population being foreign-born.
Cost of Living in Three Way, TN
Compared to national averages, Three Way has a median household income of $91,845 (22% above the national median of $75,149). Home values average $231,200, which is 6% below the national median. Monthly rent at $1,650 is 42% above the US average of $1,163. Within Tennessee, Three Way's income is 46% above the state average of $62,849, and home values are 8% above the state median of $214,371.
Why Live in Three Way, TN?
Three Way offers a strong local economy with a median household income of $91,845, well above the national average, and affordable housing with a median home value of $231,200, below the US average of $244,900, and a well-educated community where 39.4% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 5.8%, better than the national average, and short commute times averaging just 24.8 minutes.
Three Way has a population of 1,965 with a median age of 54.3 years. Compare Three Way with other cities to see how it stacks up, or explore all cities in Tennessee.
Similar Cities Near Three Way
Cities in Tennessee with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Halls | 1,984 | $40,735 | $100,200 | Compare |
| Berry Hill | 1,944 | $76,709 | $513,700 | Compare |
| Central | 1,944 | $42,292 | $126,700 | Compare |
| Hunter | 1,997 | $51,763 | $163,100 | Compare |
| Biltmore | 1,998 | $49,280 | $117,800 | Compare |
| Fairmount | 1,932 | $133,232 | $482,700 | Compare |
| New Johnsonville | 1,930 | $75,114 | $138,200 | Compare |
| Tracy City | 1,924 | $38,250 | $116,000 | 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 Three Way With Other Cities
Frequently Asked Questions about Three Way
What is the population of Three Way, TN?
The population of Three Way, TN is 1,965 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 Three Way?
The median household income in Three Way, TN is $91,845 per year, which is 22% above the national median of $75,149.
What is the median home value in Three Way?
The median home value in Three Way, TN is $231,200, which is 6% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Three Way?
The median monthly rent in Three Way, TN is $1,650, which is 42% above the national average of $1,163/month.
What is the unemployment rate in Three Way?
The unemployment rate in Three Way, TN is 5.7%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Three Way, TN a good place to live?
Three Way offers above-average incomes, affordable housing, and growing employment opportunities. With a population of 1,965 and a median age of 54.3, the city appeals to established professionals and retirees.
How educated is Three Way, TN?
39.4% of residents in Three Way 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 Three Way?
Key cost-of-living indicators for Three Way, TN: median home value is $231,200 (6% below national), median rent is $1,650/month, and median household income is $91,845. The home-value-to-income ratio is 2.5x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Three Way?
The poverty rate in Three Way, TN is 5.8%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Three Way, TN?
Three Way's population is 5.3% White, 0.9% Hispanic or Latino, 0.0% Black or African American, 0.4% Asian, and 23.1% two or more races. 6.0% of residents are foreign-born.