Nursing Care Facilities Market: ZIP 37031
Opportunity Score
82
/ 100
Excellent
Based on walkability, population density, income levels, and local business competition.
Market Summary
ZIP 37031 is an urban area. with a population of 3,984 and household incomes above the national median ($86,380).
Area Profile
3,984
Population
$86,380
Median Income
+16% vs. national
Urban
Area Type
Median Age: 49.8 —
older demographic, may prefer sit-down options.
College-Educated: 17.3% —
value-focused market, keep prices competitive.
Operating Costs
Local cost levels affect space, labor, and operating expenses.
$1,460
2BR Fair Market Rent
$1,005
Median Gross Rent
$300 K
Median Home Value
Tips for Starting a Elder Care Business in Tennessee
- State licensing for assisted living takes 6-12 months and involves facility inspections, staffing plans, and background checks. Start early.
- Staffing is your #1 cost and #1 challenge. CNA turnover runs 50-75% annually in most markets. Budget for constant recruiting.
- Medicare and Medicaid reimbursement rates vary by state. Some states pay well. Others don't cover costs. Know your state's rates before committing.
- Start small. A residential care home (6-8 beds) requires far less capital than a 50-bed facility and lets you prove your model.
Quick Facts
- Area Type
- Urban
vs. National Average
Median Income
+16% vs. $74,580
Nearby Markets
37087
8.1 mi
Pop: 55,235
$80,978
Walk: 8.0
37022
9.5 mi
Pop: 6,036
$61,250
37066
10.8 mi
Pop: 62,404
$78,049
Walk: 6.9
37074
10.8 mi
Pop: 10,999
$62,931
Walk: 7.1
37186
16.1 mi
Pop: 10,644
$57,133
Walk: 3.1
37151
18.4 mi
Pop: 467
$98,665
Walk: 2.9
37122
18.8 mi
Pop: 66,348
$109,306
Walk: 6.3
37057
18.9 mi
Pop: 691
$86,875
Check Another Market
Or estimate costs with the ElderCareCost calculator.
About This Data
Data sources
U.S. Census Bureau (ACS, ZBP) · HUD Fair Market Rents · EPA Walkability Index · USDA RUCA · IRS SOI · FDIC Summary of Deposits