Market Overview
Home Prices in Three Way, TN
The median home value in Three Way, TN is $287,090 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 1.3% compared to a year ago and up 0.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Three Way are priced30% below average. Three Way is part of the Jackson, TN metro area.
Over the past five years, Three Way home values have risen by approximately31.6%, reflecting strong long-term appreciation in this market.
Price History
Three Way Home Price Trend
City Comparison
Three Way vs. National Median
At $287,090, homes in Three Way cost 30% below the national median of $410,000. This makes Three Way a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Three Way?
20% Down Payment
$57,418
on $287,090
Monthly P&I
$1,497/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,901/mo
incl. taxes & insurance
Income Needed
$76,040
gross annual (30% rule)
10% Down Option
$28,709
+ PMI applies
Loan Amount (20% dn)
$229,672
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Three Way, TN?
The median home value in Three Way is $287,090 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 1.3% year-over-year.
How much have home prices changed in Three Way?
Over the past year, home values in Three Way have decreased by 1.3%. Over five years, prices have risen approximately 31.6%.
How much do I need to earn to buy a home in Three Way?
To comfortably afford the median home price of $287,090 with a 20% down payment ($57,418) at today's rates (6.8%), you'd need a gross annual income of approximately $76,040. This assumes keeping total housing costs at or below 30% of gross income.
How does Three Way compare to the national average home price?
The national median home value is approximately $410,000. At $287,090, homes in Three Way are 30% below the national average.
What metro area is Three Way part of?
Three Way is part of the Jackson, TN metropolitan area. Home prices and market conditions can vary across the broader metro region.