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.