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New Market, TN Profile: Facts & Data

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New Market, Tennessee - Basic Facts

The Town of New Market had a population of 1,380 as of July 1, 2024.

The primary coordinate point for New Market is located at latitude 36.104 and longitude -83.5527 in Jefferson County. The formal boundaries for the Town of New Market encompass a land area of 4.11 sq. miles and a water area of 0 sq. miles. Jefferson County is in the Eastern time zone (GMT -5).

The Town of New Market has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

The Town of New Market is located within Commissioner District 7, a minor civil division (MCD) of Jefferson County.


Jump to... (On This Page!)
  1. New Market 2024 Demographic Data
  2. Growth Rates for New Market (Historical & 5-Year Forecast)
  3. Peer Comparisons (Rank and Percentile)
  1. Neighborhoods Demographics (Home Values, Household Income, etc.)
  2. Tennessee Research Tools (Easy Tools & Current Data)
  3. Tennessee Data Comparison Tool - 2024 Demographics
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New Market, TN Data & Demographics (As of July 1, 2024)

POPULATION

Total Population 1,380 (100%)
Population in Households 1,380 (100.0%)
Population in Families 1,125 (81.5%)
Population in Group Quarters1 0
Population Density 326
Diversity Index2 23
 
 

INCOME

Median Household Income $70,131
Average Household Income $79,421
% of Income for Mortgage4 20%
Per Capita Income $31,481
Wealth Index5 62
Socioeconomic Status Index6 Moderate (53.2)
 

HOUSING

Total HU (Housing Units) 610 (100%)
Owner Occupied HU 452 (74.1%)
Renter Occupied HU 95 (15.6%)
Vacant Housing Units 63 (10.3%)
Median Home Value $226,250
Average Home Value $354,369
Housing Affordability Index3 130
 

HOUSEHOLDS

Total Households 547
Average Household Size 2.52
Family Households 360
Average Family Size 3.00
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
  6. The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

GROWTH RATE / YEAR

 2020-2024 2024-2029
Population 0.54% 0.40%
Households 0.84% 0.54%
Families   0.11%
Median Household Income   3.70%
Per Capita Income   3.47%
Owner Occupied HU   0.87%

New Market, TN - Peer Comparisons by Rank and Percentile

The table below compares New Market to the other 504 incorporated cities, towns and CDPs in Tennessee by rank and percentile using July 1, 2024 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 256 49th
Population Density # 309 39th
Median Household Income # 158 69th
Housing Affordability Index # 390 77th
Per Capita Income # 258 49th
Diversity Index # 275 46th

Additional comparisons and rankings can be made with a VERY EASY TO USE Tennessee Census Data Comparison Tool.

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