3 Tennessee Cities Among The 25 Cheapest Places To Live In The U.S.
By Sarah Tate
August 9, 2022
Living in a big city in America often comes at a price. Given the cost of living rising across the country, as well as a record-high increase in inflation, finding a place to settle down and call home could hit your wallet hard.
Kiplinger searched the country to find the cheapest places to live, and three cities in Tennessee made the cut. One town even cracked the Top 10. According to the report:
"We compiled our rankings of America's 25 cheapest cities based on the Council for Community and Economic Research's (C2ER) calculations of living expenses in 267 urban areas. We then limited ourselves to metro areas with at least 50,000 inhabitants."
So which Tennessee cities are among the cheapest places to live in America?
- No. 7: Knoxville
- No. 11: Jackson
- No. 18: Memphis
According to the report, Knoxville is the cheapest metro area in Tennessee to live thanks to its "across-the-board affordability" and cost of living that is 17.7% below the national average. This Eastern Tennessee locale has a median household income of $56,857, median home value of $180,700 and unemployment rate of 2.9%.
Jackson has a cost of living 16.3% below the U.S. average, while the cost of living in Memphis falls 15.1% below the national average. The relatively low property taxes across the state in addition to not having to pay income tax also draw in new residents.
Here are the Top 10 cheapest U.S. cities to live:
- Kalamazoo, Michigan
- Harlingen, Texas
- McAllen, Texas
- Jackson, Mississippi
- Amarillo, Texas
- Anniston, Alabama
- Knoxville, Tennessee
- Joplin, Missouri
- Augusta-Aiken, Georgia/South Carolina
- Kokomo, Indiana