Cost of Living in Tennessee
Housing costs, rent, income, and affordability for 503 cities in TN. Updated 2026.
Understanding the cost of living in Tennessee is essential whether you're planning a move, comparing job offers, or evaluating real estate investments. This page breaks down housing costs, rent prices, and median household income for every city in Tennessee, with comparisons to national averages.
Tennessee's average home value of $197,750 is 19% below the national median of $244,900. The average median household income is $57,976, and average monthly rent is $714.
Most Affordable Cities in Tennessee
Cities with population 5,000+ ranked by lowest median home value.
| # | City | Home Value | Rent | Income | Population |
|---|---|---|---|---|---|
| 1 | La Follette | $106,000 | $690/mo | $34,678 | 7,308 |
| 2 | Humboldt | $111,300 | $757/mo | $42,873 | 7,799 |
| 3 | Brownsville | $119,700 | $737/mo | $39,488 | 9,634 |
| 4 | Milan | $121,400 | $802/mo | $45,608 | 8,194 |
| 5 | Newport | $124,300 | $780/mo | $40,096 | 6,881 |
| 6 | Henderson | $130,100 | $725/mo | $57,727 | 6,349 |
| 7 | Rockwood | $132,100 | $725/mo | $37,867 | 5,510 |
| 8 | Bolivar | $136,000 | $827/mo | $38,575 | 5,171 |
| 9 | Union City | $138,400 | $732/mo | $45,523 | 11,040 |
| 10 | McKenzie | $140,200 | $669/mo | $35,988 | 5,706 |
| 11 | Bloomingdale | $141,800 | $849/mo | $50,408 | 8,840 |
| 12 | Paris | $142,700 | $763/mo | $39,365 | 10,313 |
| 13 | McMinnville | $147,200 | $756/mo | $43,348 | 13,765 |
| 14 | Dunlap | $148,300 | $890/mo | $38,666 | 5,546 |
| 15 | Dayton | $152,200 | $807/mo | $56,692 | 7,191 |
Most Expensive Cities in Tennessee
| # | City | Home Value | Rent | Income | Population |
|---|---|---|---|---|---|
| 1 | Brentwood | $926,700 | $2,497/mo | $184,720 | 45,272 |
| 2 | Nolensville | $695,100 | $2,557/mo | $170,068 | 14,545 |
| 3 | Franklin | $646,300 | $1,861/mo | $115,000 | 85,575 |
| 4 | Thompson's Station | $598,200 | $2,124/mo | $122,139 | 7,855 |
| 5 | Farragut | $513,100 | $1,691/mo | $142,402 | 24,309 |
| 6 | Tellico Village | $484,900 | $2,020/mo | $98,214 | 6,901 |
| 7 | Signal Mountain | $482,300 | $1,843/mo | $139,714 | 8,861 |
| 8 | Collierville | $458,300 | $1,574/mo | $134,319 | 51,212 |
| 9 | Spring Hill | $452,400 | $1,738/mo | $106,658 | 53,585 |
| 10 | Germantown | $441,200 | $1,760/mo | $144,799 | 40,812 |
Highest Income Cities in Tennessee
| # | City | Median Income | Home Value | Population |
|---|---|---|---|---|
| 1 | Brentwood | $184,720 | $926,700 | 45,272 |
| 2 | Nolensville | $170,068 | $695,100 | 14,545 |
| 3 | Germantown | $144,799 | $441,200 | 40,812 |
| 4 | Farragut | $142,402 | $513,100 | 24,309 |
| 5 | Signal Mountain | $139,714 | $482,300 | 8,861 |
| 6 | Collierville | $134,319 | $458,300 | 51,212 |
| 7 | Arlington | $125,909 | $367,700 | 14,989 |
| 8 | Thompson's Station | $122,139 | $598,200 | 7,855 |
| 9 | Franklin | $115,000 | $646,300 | 85,575 |
| 10 | Lakeland | $113,843 | $373,800 | 14,068 |
Cost of Living FAQ — Tennessee
What is the average cost of living in Tennessee?
The average median home value across Tennessee cities is $197,750, with average rent of $714/month. The average median household income is $57,976.
What are the cheapest cities in Tennessee?
The most affordable cities in Tennessee by home value include La Follette ($106,000), Humboldt ($111,300), Brownsville ($119,700).
What is the most expensive city in Tennessee?
The most expensive city in Tennessee is Brentwood with a median home value of $926,700.
How does Tennessee compare to the national average?
Tennessee's average home value of $197,750 is below the national median of $244,900. Median rent of $714/month is below the US average of $1,163.