8 Most Affordable Places to Live in Tennessee in2024

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: $190,000Average sale price per square foot: $125Average rent for a 1-bedroom apartment: $1,051Median household income: $43,981Nearest major metro: Nashville (215 miles)Memphis, TN homes for saleMemphis, 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: $272,500Average sale price per square foot: $143Average rent for a 1-bedroom apartment: $1,046Median household income: $44,778Nearest major metro: Memphis (85 miles)Jackson, TN homes for saleJackson, 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: $282,332Average sale price per square foot: $160Average rent for a 1-bedroom apartment: $850Median household income: $43,025Nearest major metro: Knoxville (95 miles)Kingsport, TN homes for saleKingsport, 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: $304,950Average sale price per square foot: $177Average rent for a 1-bedroom apartment: $1,028Median household income: $44,778Nearest major metro: Nashville (50 miles)Clarksville, TN homes for saleClarksville, 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: $333,500Average sale price per square foot: $183Average rent for a 1-bedroom apartment: $847Median household income: $44,778Nearest major metro: Knoxville (110 miles)Johnson City, TN homes for saleJohnson 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: $334,800Average sale price per square foot: $231Average rent for a 1-bedroom apartment: $1,357Median household income: $44,308Nearest major metro: Nashville (180 miles)Knoxville, TN homes for saleKnoxville, 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: $349,000Average sale price per square foot: $206Average rent for a 1-bedroom apartment: $1,387Median household income: $50,437Nearest major metro: Knoxville (115 miles)Chattanooga, TN homes for saleChattanooga, 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: $350,000Average sale price per square foot: $153Median household income: $85,171Nearest major metro: Memphis (15 miles)Bartlett, TN homes for saleBartlett, 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. The post 8 Most Affordable Places to Live in Tennessee in 2024 appeared first on Redfin | Real Estate Tips for Home Buying, Selling & More.