A wise sage once said:
“She works hard for the money…”
And these places in Tennessee definitely treat her right.
You see, these are the cities and places in Tennessee where the cost of living is the lowest; where your salary goes the furthest. And when if you have the luxury of choosing where to live in the Volunteer State, then the cost of living should play a role in the decision.
So we did the hard for you and crunched the numbers to find the cities that have lower food, energy, and housing costs. After the dust settled on our analysis of the 94 largest places in Tennessee, we were left with this set of the best value for your money.
So where is the cheapest place to live in Tennessee? That would be Manchester.
So listen up Pigeon Forge (the most expensive place in Tennessee) as we explain how we created this ranking. You could learn some things from the rest of the state.
And if you already knew these places were cheap, check out some more reading about Tennessee and the cheapest places in the country:
How We Determined The Most Affordable Places To Live In The Volunteer State For 2019
The two most important things to think about when it comes to being able to afford if you can live comes down to:
- How much do money do I make?
- How much do I have spend to live there?
You need to understand your costs in the context of how much money you make.
For example, if the median household earns $100,000 and spends $40,000 on housing it’s actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.
With that example in mind, we derived several statistics from the latest Census American Community Survey 2013-2017 around incomes and costs. They are:
- Median Home Price / Median Income (lower is better)
- Median Income / Median Rent (Higher is better)
- Median Home Price
We added simply median home price because high home prices generally correlate with higher expenses for all costs related to homes (heating, electricity, etc).
You can then compare these metrics in each of the places in Tennessee to figure out which is the least expensive.
What you are left with is a “Cost of Living Index” by taking the average rank of each of these metrics for each city.
So we used that cost of living index in order to rank all of the 94 places in Tennessee that have more than 5,000 people.
The place with the lowest cost of living in Tennessee according to the data is Manchester.
The 10 Cheapest Places To Live In Tennessee For 2019
Manchester is a city in Coffee County, Tennessee, United States. The population was 10,102 at the 2010 census. It is the county seat of Coffee County. The city is located halfway between Nashville and Chattanooga on Interstate 24.
The median income in Manchester comes in at $48,280 and the median home value is $112,100 for 2019.
Humboldt is a city in Gibson and Madison counties, Tennessee. The population was 8,452 at the 2010 census, a decline of 1,015 from 2000. It is the principal city of and is included in the Humboldt, Tennessee Micropolitan Statistical Area, which is included in the Jackson, Tennessee-Humboldt, Tennessee Combined Statistical Area. It is Gibson County’s largest city and Madison County’s second largest city after Jackson.
The median income in Humboldt comes in at $35,514 and the median home value is $75,500 for 2019.
The median income in Union City comes in at $32,882 and the median home value is $87,600 for 2019.
Lexington is a city in Henderson County, Tennessee, United States. Lexington is midway between Memphis and Nashville, lying ten miles south of Interstate 40, which connects the two cities. The population was 7,473 at the 2010 census. It is the county seat of Henderson County.
The median income in Lexington comes in at $38,468 and the median home value is $101,500 for 2019.
Rockwood is a city in Roane County, Tennessee, United States. Its population was 5,562 at the 2010 census. It is included in the Harriman, Tennessee Micropolitan Statistical Area.
The median income in Rockwood comes in at $30,777 and the median home value is $75,600 for 2019.
Lewisburg is a city in Marshall County, Tennessee, United States. The population was 11,371 in 2014. It is the county seat of Marshall County. Lewisburg is located in central Tennessee, forty-eight miles south of Nashville and fifty-two miles north of Huntsville, Alabama, along I-65.
The median income in Lewisburg comes in at $37,466 and the median home value is $90,800 for 2019.
The median income in Munford comes in at $67,813 and the median home value is $153,700 for 2019.
Dunlap is a city in and the county seat of Sequatchie County, Tennessee, United States. The population was 4,173 at the 2000 census and 4,815 at the 2010 census.
The median income in Dunlap comes in at $48,208 and the median home value is $130,400 for 2019.
Paris is a city in Henry County, Tennessee, 86 miles northwest of Nashville, on a fork of the West Sandy River and the Tennessee River. As of the 2010 census, the city had a total population of 10,156. It is the county seat of Henry County.
The median income in Paris comes in at $33,743 and the median home value is $89,700 for 2019.
LaFollette is a city in Campbell County, Tennessee, United States. Its population was 7,456 at the 2010 census, with an estimated population in 2014 of 7,131. It is the principal city of the LaFollette, Tennessee Micropolitan Statistical Area, which includes all of Campbell County, and is a component of the Knoxville-Sevierville-La Follette Combined Statistical Area. While the city’s official spelling is one word -after its founders, Harvey Marion LaFollette and his younger brother Grant LaFollette-several federal agencies spell the city’s name with two words.
The median income in La Follette comes in at $27,819 and the median home value is $59,600 for 2019.
There You Have It Mr. Or Mrs. Tennessee Cheapskate
If you’re looking at the cost of living numbers in Tennessee, this is an accurate list of the most affordable places to live in tennessee for 2019.
Here’s a look at the most expensive cities in Tennessee according to the data:
- Pigeon Forge
For more Tennessee reading, check out: