Tennessee is home to some of the most famous attractions, including Graceland in Memphis and the Great Smoky Mountains National Park.
If you bask in the southern charm, Tennessee may provide ample opportunity for you.
Perhaps you’re looking to stick to a budget if you’re considering moving to Tennessee.
If this sounds like you, continue reading to learn about some of the cheapest places to live in Tennessee.
This guide will be useful, especially if you’re looking to stay under the median home sale price of $434,900.
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13 of the Cheapest Places to Live in Tennessee
1. Memphis
Believe it or not, Memphis, TN, is one of the most affordable places to live in the entire state.
But for what reasons?
The average cost of a home is just $220,150.
The town is pretty large, with nearly 633,100 residents living in it.
Memphis is considered a mid-sized town.
The average salary for households here is $43,981.
And if you’re curious to know what the next closest major metro area is, Nashville is 215 miles away.
There are several popular attractions located in Memphis.
For instance, you’ll find Graceland, which was the home of Elvis Presley.
You can also take a walk along the infamous Beale Street or enjoy a cruise right on the Mississippi River.
2. Jackson
Jackson is also highly favored when it comes to affordability in Tennessee.
The average sale price of homes in Jackson is $280,000.
For those who prefer to rent, you’ll be glad to know that the average rent paid for a one-bedroom is $1,046.
You’ll also be happy to know that Memphis is located just 85 miles away.
About 68,200 people live in Jackson.
Most of all, you’ll find great attractions worth visiting in Jackson, such as the Casey Jones Home & Railroad Museum and Rusty’s TV & Movie Car Museum.
The downtown Jackson area is also highly recommended.
3. Kingsport
Kingsport is an amazing place to live in Tennessee in terms of affordability.
The average sale price of a home in the area is $295,000.
For those who would rather rent, $850 is the average rent paid for a one-bedroom apartment.
Knoxville is 95 miles away, for those wondering what the nearest major metropolitan town is.
Residents can earn a decent living here in Kingsport, with the average median household income being $43,025.
If you can see yourself becoming a resident of Kingsport, you’ll love the planetarium, the Pioneer Museum, and even downtown Kingsport.
4. Clarksville
Also making the list of being one of the most affordable places to live in Tennessee is Clarksville.
Clarksville is a popular town, with an average median home price of $303,000.
But what about those who would rather rent?
The average rent paid for a one-bedroom is $1,028.
Nashville is located 50 miles from Clarksville and is just slightly more expensive than Kingsport.
Clarksville offers many unique entertainment options.
For instance, check out Dubar Cave State Park, Liberty Park, Cumberland Riverwalk, and McGregor Park if you’re looking for things to do outdoors.
5. Johnson City
Be sure to add Johnson City to your list of places to research while searching for affordable places to live in Tennessee.
Johnson City is worth considering, as the median home sale price is $310,000.
So, what’s the population in Johnson City?
There are 71,000 people taking advantage of all that Johnson City has to offer.
It’s a wonderful option, as you will benefit from not having to pay a premium for a home in a much larger town.
Johnson City is home to the East Tennessee State University campus, so feel free to explore at your leisure.
You can also visit the many available hiking trails that will give you a scenic view of Huckleberry Knob.
6. Bartlett
If you’re looking for more places to add to your list regarding affordability, consider adding Bartlett, TN.
The average sale price of homes here is $315,000.
Overall, the average home sale price is nearly $120,000 below the state’s average, which should reassure you.
Bartlett is home to roughly 57,800 people.
Check out Nesbit Park and other walking trails nearby if you’re contemplating this beautiful town.
7. Knoxville
Knoxville is another wonderful and popular area to reflect on if you’re looking for affordable homes in Tennessee.
The median home sale price in Knoxville is $326,500, while the average rent for one-bedroom apartments is $1,357.
Nashville is quite a bit away for those wondering what’s the closest major metro area. 190,700 people call Knoxville home, and it’s ideal if you’re looking for a town that’s not too big or too small.
Market Square is a popular attraction in Knoxville, where you’ll find plenty of shops and sites, including Charles Krutch Park.
You’ll also be able to explore the World’s Fair Park, Sunsphere, Knoxville Botanical Garden, and Arboretum.
8. Chattanooga
Also on the list of the most affordable places to live in Tennessee is Chattanooga.
Chattanooga is a charming town with nearly 181,100 residents living in it.
The average home sale price in Chattanooga is around $337,250, while the average rent for a one-bedroom apartment is $1,387.
Knoxville is the closest major metro area, but it is 115 miles away.
Living in Chattanooga means that you’ll have to put Lookout Mountain on your list of places to visit.
You’ll be able to get breathtaking views of the city and areas surrounding Chattanooga.
Other attractions include the Tennessee Aquarium, various museums, and shops.
9. LaFollette
LaFollette is perfect for you if you’re looking for something that is ideal for the outdoors and is affordable.
LaFollette is nestled within the Cumberland Mountains and gives those living here a suburban feel in a small town.
LaFollette is located just 32 miles from Knoxville and is full of beautiful views, with Norris Lake just to the south.
The cost of living in Lafollette is nearly 24% below the national average, and it has a population of 7,495.
The average cost of a home in LaFollette is $87,500.
If you prefer to rent, you’re looking at around $480 per month, which is significantly cheaper than other towns in the country.
10. Rockwood
Rockwood is a special town in Tennessee.
The median home price in Rockwood is $100,300, while renters pay roughly $1,146 every month.
Rockwood is a small town with only 5,423 residents living there.
But besides being small, Rockwood has a lot to offer residents, including an event facility and a museum.
There are also specialty shops and antique shops that fill the town.
If you move to Rockwood, consider checking out the annual Thunder Road Festival, where you’ll be able to indulge in food, music, and more.
11. Farragut
Farragut is next on the list for offering affordable living for residents in Tennessee.
Not only is Farragut affordable, but it’s also perfect for retirees, as it’s a quiet and relaxed community.
In addition, families can take advantage of all that Farragut has to offer as well.
Nearly 23,778 people live in Farragut, which is located no more than 20 miles from Knoxville.
If you’re wondering what the median home value is in Farragut, you can expect to pay around $376,300 for a house.
Rent averages around $1,222 in Farragut.
There’s also a lot to do in Farragut, including Fort Loudon Lake, which is ideal for boating, fishing, and more.
12. Alcoa
Located 15 miles south of Knoxville is Alcoa, another affordable place to live in Tennessee.
It is located close to the Appalachian range and provides residents with easy access to multiple highways.
McGhee Tyson Airport is also located in Alcoa, which provides flights to and from major towns across the country.
But what makes Alcoa so affordable?
The median home sale price is $146,500, while the average rent is $700 each month.
Homeowners take home an average pay of $42,255 per year.
Alcoa provides wonderful trails and outdoor activities, including running, hiking, and biking, in addition to six different colleges all located within 15 miles of Alcoa.
13. Murfreesboro
Last on the list of the most affordable places to live in Tennessee is Murfreesboro.
Murfreesboro is located only 30 miles from Nashville and has nearly 147,000 people living there.
Because it’s so affordable, it’s excellent for families, as it has an abundance of highly-rated public schools.
Renters pay close to $970 per month, while homeowners pay an average of $246,000 for homes in the area.
Murfreesboro offers plenty of cuisine options in addition to the yearly Main Street Jazz Festival.
There are also plenty of outdoor activities you can enjoy, including running, walking, and biking on a 12-mile greenway.
Tennessee Safety Overview
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Safety Index:
- OVERALL RISK: MEDIUM
- TRANSPORT & TAXIS RISK: LOW
- PICKPOCKETS RISK: MEDIUM
- NATURAL DISASTERS RISK: MEDIUM
- MUGGING RISK: MEDIUM
- TERRORISM RISK: LOW
- SCAMS RISK: LOW
- WOMEN TRAVELERS RISK: LOW
Frequently Asked Questions
What is the cost of living in Tennessee?
You shouldn’t consider the average cost of living in the state as a whole when considering Tennessee as a place to move.
Instead, you should dissect individual towns when looking for an affordable place to live.
The cost of living in Tennessee is 10% below the national average.
In addition, housing is 18% below the national average, and utilities are nearly 8% lower.
In terms of healthcare services, the costs in Tennessee are a whopping 13% below the national average.
Does Tennessee offer affordable housing programs?
Tennessee offers various federal and state programs to provide low rent costs for those who qualify.
You can get more information through the Tennesee Housing and Development Agency, which is the housing finance agency in the state.
Why is it so cheap to live in Tennessee?
Overall, the state of Tennessee offers residents a low cost of living.
Moreover, there’s no state income tax.
In terms of property taxes, they are extremely low.
These are all factors that make Tennessee a highly regarded place to live in.
