The median home price in Tennessee is $305,570 which has increased by 3.2% since the last year. The Tennessee housing market has witnessed a 2.6% year-over-year decline in the number of homes listed. With a 3-month supply, you will get your choice of house with the seller being more willing to negotiate.
As per our research, home prices are higher in inland cities near the Brentwood metropolitan area, TN. On the other hand, as you move towards the border areas of the Volunteer State like Chattanooga, you can find cheaper housing options.
4 Reasons to live in Tennessee ⭐
- Cheaper Houses: The median home sale price in Tennessee is ~$305K but you can get houses between $170 and $397 in cities like LaFollette, Chattanooga, and Rockwood.
- Tax Benefits: For the 2024 tax year, Tennessee’s standard monthly deduction amount is $1,026 for a single taxpayer.
- Affordable Healthcare: Healthcare in cities that are listed below is up to 12% lower than the state average.
- Cheaper Rentals: The rent prices of these cities are lower than the national average. You can save up to $850 per month in rent.
Cheapest Places to Live in Tennessee in 2024
This list provides insights into the average household income, median listing price, population, unemployment rate, and poverty rate of the cities.
| City | Median Household Income | Median Home Value | Population | Unemployment Rate | Poverty Rate |
|---|---|---|---|---|---|
| Rockwood | $37,456 | $170,892 | 7,823 | 2.7% | 21% |
| LaFollette | $35,705 | $211,851 | 7,346 | 6.4% | 28.75% |
| Chattanooga | $47,242 | $288,493 | 182,000 | 4.10% | 16.9% |
| Johnson City | $50,437 | $265,702 | 71,278 | 3.50% | 21.58% |
| Clarksville | $58,838 | $296,736 | 171,000 | 4.40% | 13.2% |
| Bartlett | $126,555 | $323,175 | 57,318 | 3.50% | 4.85% |
| Murfreesboro | $66,984 | $397,242 | 158,000 | 2.9% | 12.15% |
7 Cheapest Places to Live in Tennessee
The annual population growth of 10.9% since 2010 is reflective of people’s intention to move to Tennessee. If you’re considering shifting to Tennessee, here are some cities that offer affordable living options:
1. Rockwood
| 🟢 Cost of Living Compared to National Average | 23%⬇️ |
| 🏡 Median Home Price | $170,892 |
| 💲 Median Rent | $850 |
| 🌲 Known For | Rockwood Conservation Area |
Rockwood, located in Tennessee, offers an affordable haven. Its median home price is $170,892, while the median house rent ranges from $850 – $2,650. Even health care and other expenses are 15% lower than the national average.
Residents have the opportunity to explore attractions like Roane County Park, which provides serene landscapes for relaxation. While the Rockwood Golf & Country Club and the Brillo Miller Sports Complex cater to those seeking sports activities.
» Homes for Sale in Rockwood, TN: Find your dream home in this city.
2. LaFollette
| 🟢 Cost of Living Compared to National Average | 25%⬇️ |
| 🏡 Median Home Price | $211,851 |
| 💲 Median Rent | $671 |
| 🌅 Known For | Norris Lake |
Campbell County, LaFollette is highly affordable, featuring a median home price of $211,851. This is significantly lower than Williamson County’s Franklin City which has a home value of $839,681.
LaFollette provides residents with a lot of delightful attractions to explore. You can go on water adventures at Oasis Watersports. Savor locally crafted wines at Chapman Hill Winery or meet up at Tiki Club to enjoy lively social gatherings.
» Homes For Sale in LaFollette, TN: Browse thousands of property listings in LaFollette.
3. Chattanooga
| 🟢 Cost of Living Compared to National Average | 7%⬇️ |
| 🏡 Median Home Price | $288,493 |
| 💲 Median Rent | $1,396 |
| 👩🏼💻 Known For | Internet Speed |
Chattanooga offers budget-friendly living with a median rent of $450 – $7,500. With monthly utilities costs being 9% lower than the national average, the city stands out as one of Tennessee’s most inexpensive places to live.
Chattanooga, nicknamed the “Gig City,” boasts the world’s fastest internet at 25 gigabits per second. The Chattanooga Airport offers 24/7 services to 1,000+ destinations worldwide.
» Homes For Sale in Chattanooga, TN: View all the properties for sale in this city.
4. Johnson City
| 🟢 Cost of Living Compared to National Average | 6%⬇️ |
| 🏡 Median Home Price | $265,702 |
| 💲 Median Rent | $1,256 |
| 🍵 Known For | Yee Haw Brewing |
With rental costs being 37% below the national average, Johnson City stands as one of the most affordable cities to live in Tennessee. The median house rent is $450 – $3,250.
Johnson City is famed for its recreational options, with water skiing and hiking taking the top spots. For enthusiasts seeking breathtaking views, Buffalo Mountain Park, Yee-Haw Brewing, and Tweetsie Trail are some top spots.
» Homes For Sale in Johnson City, TN: Browse through thousands of affordable properties.
5. Clarksville
| 🟢 Cost of Living Compared to National Average | 7%⬇️ |
| 🏡 Median Home Price | $296,736 |
| 💲 Median Rent | $1,325 |
| 🎶 Known For | Grand Ole Opry |
Clarksville, “Queen of the Cumberland,” has a cost of living that is 10% lower than the national average. The average food expenses are 2% lower than the national average.
Clarksville’s affordable food, health, housing, and transportation facilities make the city one of the cheapest places to live in the US. It is the state’s fifth-largest city, located just 48 miles from Nashville. The city provides residents with access to captivating musical performances at the Grand Ole Opry.
» Homes For Sale in Clarksville, TN: Browse through thousands of properties in this inexpensive city.
6. Bartlett
| 🟢 Cost of Living Compared to National Average | 8%⬇️ |
| 🏡 Median Home Price | $323,175 |
| 💲 Median Rent | $1,124 |
| ⛳ Known For | Stanky Creek Mountain Bike Trails |
The median house rent in Bartlett is between $675 – $5,970. This is a fantastic deal in comparison to the rents in Nolensville, which is from $2,420 – $5,250. With an average household income of $94,603, you can comfortably live in this city.
Bartlett is an enticing option for nature lovers. Stanky Creek Mountain Bike Trails is best for biking enthusiasts and Stoneridge Park is for strolls.
» Homes For Sale in Bartlett, TN: Find a home in one of the cheapest places to live in Tennessee.
7. Murfreesboro
| 🟢 Cost of Living Compared to National Average | 9%⬇️ |
| 🏡 Median Home Price | $397,242 |
| 💲 Median Rent | $1,489 |
| 🏫 Known For | Floyd Stadium |
Murfreesboro is one of the best places to live in Tennessee. The median home price in Murfreesboro is $397,242. The healthcare expenditure is 16% lower than the average national healthcare expense, making it one of the most budget-friendly options across the country.
Murfreesboro is famous for landmarks such as Stones River, Nissan Stadium, and the Wat Lao Buddhist Temple.
» Homes For Sale in Murfreesboro, TN: Get yourself a home in this Murfreesboro.
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The Bottom Line
The cost of living in Tennessee is 11% lower than the national average. Nevertheless, it is still home to some of the most expensive cities in America. However, if you want to shift to Tennessee, you can find affordable housing in cities like Clarksville, Bartlett, and Murfreesboro.
Cities like Brentwood and Oak Hill have a slightly expensive cost of living but provide better job opportunities. You must research the city’s home prices and living costs before relocating.
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Research Methodology
We’ve created this list by considering factors such as cost of living, median home price, and rental price range. We have also accounted for the population, median household income, poverty rate, and unemployment rate in these cities.
To compile this list of the cheapest areas to live in Tennessee, we have drawn data from the Economic Research Institute, World Population Review, Rent Cafe, and Zillow.
Frequently Asked Questions
What is the cheapest place to live in Tennessee?
The cheapest place to live in Tennessee is Rockwood. It offers affordable healthcare, which is 15% lower than the national average.
» 7 Cheapest Places to Live in Tennessee: Find out the other cheapest places to live in Tennessee!
Where is the best place to live in Tennessee?
The best place to live in Tennessee is Memphis, followed by Brownsville, Knoxville, Chattanooga, Union City, Johnson City, and Nashville.
Is Tennessee the cheapest place to live in?
No, it is not. The median home value is $309,913. If you're looking for cities with affordable housing and a low cost of living, you can try your luck in some of these cheapest places in America.
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