Home Price Key
Affordable
Average
Expensive
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 $218,916, lower than the the United States average of $313,691.
The average cost of rent is $1,035/mo in Tennessee, primarily driven by the current value of real estate in the Tennessee area. While nearly 41.91% of residents own their homes outright in Tennessee, 30.77% rent.
Housing affordability isn’t just about home prices, though. The average household income in Tennessee is $5,577 per month. Households that rent pay about 18.56% of their income on rent here. Tennessee's most expensive areas are in the central regions, while the cheapest areas are in the southeastern parts of the state.
Nearby States
- Kentucky: less expensive homes
- Alabama: less expensive homes
- Georgia: equally priced homes
- Mississippi: less expensive homes
- Indiana: less expensive homes
- South Carolina: equally priced homes
- West Virginia: less expensive homes
- North Carolina: equally priced homes
- Arkansas: less expensive homes
- Illinois: higher priced homes
States with Similar Populations
- Pennsylvania: equally priced homes
- Missouri: less expensive homes
- Montana: higher priced homes
- Nebraska: less expensive homes
- Nevada: higher priced homes
- New Hampshire: higher priced homes
- New Mexico: equally priced homes
- New York: higher priced homes
- North Carolina: equally priced homes
- North Dakota: equally priced homes
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