Whats the Cost of Living in Tennessee? Cost of Living in Tennessee

Tennessee is known for its low cost of living and tax benefits. The state offers affordable housing and various cost-saving opportunities for residents.

  • Tennessee’s cost of living is 11% lower than the national average.
  • Housing costs are 21% less, with a typical home priced at $276,963.
  • The state has low transportation and healthcare costs.
  • Utility costs are reasonable at $256.83 per month for a typical household.

Several cities in Tennessee offer affordable living options and unique cultural experiences for residents.

  • La Follette: Median home price is $98,000.
  • Alcoa: Offers a cost of living index of 84.7%, with below-average grocery, health, housing, and utility costs.
  • Memphis: Median home price is $220,150, blending low costs with cultural attractions and entertainment options.
  • Lewisburg: Three-bedroom homes average about $90,200.
  • Clarksville: Provides reasonably priced housing options near the Fort Campbell military base.

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