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These days, finding an affordable place to live in the Tennessee area can be challenging. Home prices in Tennessee are now at a median cost of $188,531, lower than the Illinois average of $300,242.
The average cost of rent is $769/mo in Tennessee, primarily driven by the current value of real estate in the Tennessee area. In Tennessee, 21.77% of households rent, and 43.22% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Tennessee is $6,430 per month. Households that rent pay about 11.96% of their income on rent here. Tennessee’s most expensive areas are in the southwestern regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Colchester, IL: less expensive homes
- Colmar, IL: equally priced homes
- Fandon, IL: less expensive homes
- Fountain Green, IL: less expensive homes
- Macomb, IL: less expensive homes
- Blandinsville, IL: less expensive homes
- Plymouth, IL: less expensive homes
- Webster, IL: higher priced homes
- Sciota, IL: equally priced homes
- La Harpe, IL: less expensive homes
Cities with Similar Populations
- Williamson, PA: higher priced homes
- Warren, TN: higher priced homes
- Wasco, OR: higher priced homes
- Waukeenah, FL: equally priced homes
- Wawpecong, IN: less expensive homes
- Weatherby, MO: higher priced homes
- Weaver, TX: higher priced homes
- Wegdahl, MN: equally priced homes
- West Sonora, OH: equally priced homes
- Weston, VT: higher priced homes
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