8 Most Affordable Places to Live in Tennessee in 2024
The state of Tennessee is home to countless iconic places like Memphis’ Graceland, country music and the Grand Ole Opry, to the Great Smoky Mountains National Park and its Southern charm. If Tennessee sounds like the place for you, then chances are you also have a budget you’re hoping to stay under in your home or apartment search. As of July, the median home sale price in Tennessee is $392,900.
If that number is out of your budget, don’t worry. We’ve got options to help you find a home. Redfin has rounded up a list of the 8 of the most affordable places to live in Tennessee – and they all have a median home sale price under $392,900. Let’s jump in and see what cities are on the list.
#1: Memphis
Median home price: $190,000
Average sale price per square foot: $125
Average rent for a 1-bedroom apartment: $1,051
Median household income: $43,981
Nearest major metro: Nashville (215 miles)
Memphis, TN homes for sale
Memphis, TN apartments for rent
With a median home sale price of $190,000, Memphis is the most affordable place to live in Tennessee. There are about 633,100 residents living in this mid-sized city. Living in Memphis, you can visit Graceland, the home of Elvis Presley, stroll along historic Beale Street, take a riverboat cruise on the Mississippi River, and see the ducks walk through the lobby at the Peabody Hotel.
#2: Jackson
Median home price: $272,500
Average sale price per square foot: $143
Average rent for a 1-bedroom apartment: $1,046
Median household income: $44,778
Nearest major metro: Memphis (85 miles)
Jackson, TN homes for sale
Jackson, TN apartments for rent
Taking second place on our list of affordable cities to live in Tennessee is Jackson. When living in this city of 68,200 people, you can visit the Northwood Avenue Historic District to see the preserved home, explore museums like Casey Jones Home & Railroad Museum and Rusty’s TV & Movie Car Museum, and check out downtown Jackson.
#3: Kingsport
Median home price: $282,332
Average sale price per square foot: $160
Average rent for a 1-bedroom apartment: $850
Median household income: $43,025
Nearest major metro: Knoxville (95 miles)
Kingsport, TN homes for sale
Kingsport, TN apartments for rent
Third is Kingsport where about 55,400 residents currently live. The median home sale price is $282,332 which is about $110K less than the median home sale price in Tennessee. Make sure to explore the trails, planetarium, and pioneer museum at Bays Mountain Park & Planetarium, and check out downtown Kingsport if you move to the third most affordable city.
#4: Clarksville
Median home price: $304,950
Average sale price per square foot: $177
Average rent for a 1-bedroom apartment: $1,028
Median household income: $44,778
Nearest major metro: Nashville (50 miles)
Clarksville, TN homes for sale
Clarksville, TN apartments for rent
A little more expensive than Kingsport is Clarksville, the next city on our list. About 166,700 people live in Clarksville, where there are plenty of unique activities to do. Be sure to visit nature preserves like Dunbar Cave State Park, McGregor Park and Cumberland Riverwalk, or Liberty Park, and check out the museums and shops downtown.
#5: Johnson City
Median home price: $333,500
Average sale price per square foot: $183
Average rent for a 1-bedroom apartment: $847
Median household income: $44,778
Nearest major metro: Knoxville (110 miles)
Johnson City, TN homes for sale
Johnson City, TN apartments for rent
Consider adding Johnson City to your list of cities to consider living in if you’re looking for an affordable place to move to in Tennessee. With 71,000 people living in this affordable town, Johnson City is a great option to consider when looking to stay in Tennessee without paying the premium for a home in a larger city. In Johnson City, you can hike the trail to the scenic overlook Huckleberry Knob, visit the historic sites in town, and explore the East Tennessee State University campus.
#6: Knoxville
Median home price: $334,800
Average sale price per square foot: $231
Average rent for a 1-bedroom apartment: $1,357
Median household income: $44,308
Nearest major metro: Nashville (180 miles)
Knoxville, TN homes for sale
Knoxville, TN apartments for rent
Sixth on our list of affordable places to live in Tennessee is Knoxville. With a population of roughly 190,700, moving to Knoxville is a great idea if you’re looking for a city that’s not nearly as big as the other major metropolitan cities in Tennessee. Don’t miss out on visiting Market Square where you’ll find shops and sites like Charles Krutch Park, seeing sites like the Sunsphere, World’s Fair Park, and Knoxville Botanical Garden and Arboretum, hiking the Bluffs, and exploring Ijams Nature Center once moving here.
#7: Chattanooga
Median home price: $349,000
Average sale price per square foot: $206
Average rent for a 1-bedroom apartment: $1,387
Median household income: $50,437
Nearest major metro: Knoxville (115 miles)
Chattanooga, TN homes for sale
Chattanooga, TN apartments for rent
A recognizable city is Chattanooga, where the median home sale price is about $40K less than the state’s average. This affordable city is home to roughly 181,100 residents. Once moving to Chattanooga you’ll want to visit Lookout Mountain, a scenic overlook with stunning views of the city and surrounding areas, explore the Tennessee Aquarium and numerous historic sites, and visit the charming downtown area home to museums and shops.
#8: Bartlett
Median home price: $350,000
Average sale price per square foot: $153
Median household income: $85,171
Nearest major metro: Memphis (15 miles)
Bartlett, TN homes for sale
Bartlett, TN apartments for rent
Last but not least on our list of most affordable places to live in Tennessee is Bartlett. With just about 57,800 people living in Bartlett, it’s a great place to consider living in this year. So make sure to explore Nesbit Park and the various walking trails. No matter what neighborhood you move to in Bartlett, you’ll never tire of exploring this city.
Methodology: All cities must have over 50,000 residents per the US Census and have a median home sale price under the average median home sale price in Tennessee. Median home sale price and median sale price per square foot from the Redfin Data Center during July 2024. Average rental data from Rent.com July 2023. Population and median household income data sourced from the United States Census Bureau.
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