Tennessee Zillow (2024)

FAQs

Is it cheap to live in Tennessee? ›

Average Cost of Living in Tennessee: $42,469 per year

Why? Tennessee is among the most affordable 10 states, at No. 10, according to MERIC data gathered in 2022.

In June 2024, 19.3% of homes in Tennessee sold above list price, down 4.8 points year. There were only 28.3% of homes that had price drops, up from 24.0% of homes in June last year. There was a 98.0% sale-to-list price, down 0.47 points year over year. … Homes that sold above list price likely received multiple offers.

There are currently 41,454 homes for sale in Tennessee. The median list price in Tennessee is $424,900 and the average price per square foot is $205.

Tennessee offers a unique blend of history, culture, affordability, and natural beauty, making it an ideal place to live. From the bustling cities of Nashville, Memphis, and Chattanooga to the tranquillity of the Great Smoky Mountains National Park, there's something for everyone in Tennessee.

$27,200 is the 25th percentile. Salaries below this are outliers. $37,200 is the 75th percentile.

1. Church Hill. Church Hill comes in first as the safest city in Tennessee, according to the FBI database.

Pro: Tennessee has a low cost of living

And there are plenty of affordable places to live in Tennessee. Although home prices can be affordable, living in cities like Knoxville can be expensive, while smaller suburbs like Clarksville generally remain cheaper.

Rather, widespread overvaluation is a sign of the times. High demand and low supply are to blame for skyrocketing prices in Tennessee, Greater Nashville Realtors board member Collyn Wainwright said. Population growth in the state, especially since the COVID-19 pandemic, has created a surge in the demand for housing.

As of 2022, 17.9% of Tennessee homeowners were classified as cost-burdened, paying more than 30% of their incomes towards housing. For renters, the situation is even more dire, with 43.4% classified as cost-burdened.

It is usually cheaper to buy a home than build a new one. However, by building your own home you get a brand-new residence, customized to your needs. It costs $261,940 on average to build a home in Tennessee. This figure can add up to $411,940 if you include land costs, excavations, permits, and other expenses.

Does Tennessee get snow? ›

Snow in Tennessee

Tennessee's annual average snowfall total is 16". The table below shows the snow cover in Tennessee. Note that snowpack levels across Tennessee aren't reported during the off-season period.

Only three whole states are part of tornado alley: Oklahoma, Kansas and Missouri. Parts of Louisiana, Iowa, Nebraska, eastern Colorado and the northern part of Texas are considered part of the alley. Tennessee is not considered part of tornado alley, but the state has had its fair share of tornadoes over the years.

Tennessee's poverty rate is 14.62% between 2016 to 2022. This rate places Tennessee among the bottom-ranking states in terms of poverty levels.

In addition to lower mortgage and rent prices, Tennessee residents also enjoy low property taxes and no state income tax. Combine that with lower prices on everyday goods and services and it's easy to see why living in Tennessee is so attractive to newcomers.

As of August 2024, the average rent in Nashville, TN is $1,644 per month. For comparison, the national average rent price in the US is currently $1,536/month, which means Nashville rent prices are 7% higher than the national average.

West Virginia is the cheapest state to live in the US due to its low cost of living. This affordability is primarily driven by the state's low housing costs and other economic facilities. The median home price in West Virginia is $155,400, and the average rent for a two-bedroom apartment is $930 per month.

In addition to lower mortgage and rent prices, Tennessee residents also enjoy low property taxes and no state income tax. Combine that with lower prices on everyday goods and services and it's easy to see why living in Tennessee is so attractive to newcomers.