Why is Tennessee housing so cheap?

Tennessee doesn't have a state income tax. And generally, it has lower property taxes and a lower cost of living than other states , which has attracted everyone from working aged people to retirees, especially those from more expensive cities and coastal areas.

How much do you need to put down on a house in Tennessee?

Here's what you can expect when buying a home in Tennessee. Before you fill out any paperwork, start saving up for your down payment. Most traditional home loans require 20% of the home's purchase price up front , while other types of mortgages, like an FHA loan, require much less.

What are some reasons not to move to Tennessee?

Con: It might take time to adapt to the humid climate The climate in Tennessee is humid and subtropical, which can be uncomfortable for some residents. The summers are hot and muggy, and the winters are mild with occasional snow. The weather is pleasant in spring and fall, but you can still expect some humidity.

How much house can I afford with a $1500 monthly payment?

If you bring the national average down payment of 6% to closing and have a 7.69% rate on a 30-year fixed mortgage, that's just shy of $1,700 a month in principal and interest. What does $1,500 buy with those same terms? About $225,000 worth of house, give or take .

Does Tennessee require an attorney to buy a house?

While there is no legal requirement to retain an attorney to buy a house in Tennessee , it is nevertheless prudent. Buying a home is a huge investment and expense, and the process involves complex contract language and specific legal requirements that can benefit from a lawyer's involvement.

What is the minimum credit score to buy a house in Tennessee?

Minimum Credit Score - The credit score of everyone on your loan application must be at least 640 . If you do not know your credit store, your lender can check for you. If your credit score does not meet the minimum requirement, you can work with a THDA-Approved Counselor to improve your score.

Can I build a house for $100 per square foot in Tennessee?

The average cost to build a house in Nashville ranges from $100 to $200 per square foot , depending on factors such as location, design, and material choices.

What is the home rule in Tennessee?

In Tennessee, home rule means that a city may adopt and change its own charter by local referendum . If a city adopts home rule, the legislature may not pass private acts that apply to that city.

Is it really cheaper to live in Tennessee?

In general, Tennessee is not expensive to live in . The cost of living in Tennessee is relatively low compared to other states, with housing, utilities, groceries, and clothing all below the national average.

Is Tennessee a good state to buy a house?

Affordability: Compared to many other states, Tennessee offers relatively affordable real estate options . The cost of living in Tennessee is lower than the national average, making it an appealing choice for individuals and families looking to purchase property without breaking the bank.

Is Tennessee one of the cheapest states to live in?

Average Housing Costs in Tennessee: $828 to $1,477 per month Considering that Tennessee is one of the cheapest states to live in , it comes as no surprise that the average home price is on the lower side.

Is Tennessee becoming unaffordable?

Data from the new Demographia International Housing Affordability studysays several US cities are now considered "impossibly expensive." It shows Tennessee is quickly becoming one of the most expensive states to own a home in.

TN Real Estate - Tennessee Homes For Sale

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852 Joe Dr, Collierville, TN 38017
CRYE-LEIKE, INC., REALTORS
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$399,900
3 bds
2 ba
-- sqft

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749 Huntington Pkwy, Nashville, TN 37211
$350,000
4 bds
2 ba
1,986 sqft

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12266 Fredericksburg Blvd, Knoxville, TN 37922
KELLER WILLIAMS REALTY
$1,550,000
5 bds
5 ba
6,120 sqft

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See Also
Tennessee Houses With Land for Sale - 2,587 Properties Lakefront Home - Tennessee Real Estate - 714 Homes For Sale | Zillow Tennessee Barndominiums for Sale - 43 Properties Log Cabin - Tennessee Real Estate - 2339 Homes For Sale | Zillow
5901 Levi Rd, Chattanooga, TN 37415
$245,000
3 bds
2 ba
1,440 sqft

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15 days on Zillow
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6425 Dogwood Dr, Harrison, TN 37341
$--
3 bds
2 ba
1,848 sqft

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32 days on Zillow
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2111 Elder St, Chattanooga, TN 37404
$314,900
3 bds
4 ba
2,360 sqft

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Price cut: $15,000 (Jun 19)
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1120 Kinzer Ln, Kingsport, TN 37660
Sara Banks
$249,900
5 bds
4 ba
3,840 sqft

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12 days on Zillow
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120 Wilson Ln, New Tazewell, TN 37825
TENNESSEE LIFE REAL ESTATE PRO
$165,000
5 bds
2 ba
2,932 sqft

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Price cut: $15,000 (Jul 03)
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91 Lake St, Crossville, TN 38572
WEICHERT, REALTORS-THE WEBB AGENCY
$325,000
3 bds
2 ba
1,405 sqft

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39 days on Zillow
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Disclaimer: School attendance zone boundaries are supplied by Pitney Bowes and are subject to change. Check with the applicable school district prior to making a decision based on these boundaries.

About the ratings: GreatSchools ratings are based on a comparison of test results for all schools in the state. It is designed to be a starting point to help parents make baseline comparisons, not the only factor in selecting the right school for your family. Learn more

TN Real Estate - Tennessee Homes For Sale | Zillow (2024)

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