The 10 Most Expensive Places To Live In Tennessee For 2023


We used science and data to determine which cities in Tennessee that will put a big dent in your wallet.

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Editor’s Note: We updated this article for 2023. This is our tenth time ranking the most expensive places to live in Tennessee.

Everyone wants a home that mixes affordability with comfort and Tennessee does this very well. Families love the Volunteer State's beaches, midlands, and mountains as tourists before moving here and calling it home.

But before you decide to relocate, you have to do some research into the exact cost of living around the state -- and that's how we're going to help you.

These are the places in Tennessee that cost a pretty penny -- the most expensive cities in the state.

After we saved up for months and could finally afford it, we landed on this list of the ten most expensive cities in Tennessee for 2023.

So where is the most expensive place to live in Tennessee? That would be Nashville.
the 2017-2021 American Community Survey for the 97 places in Tennessee with more than 5,000 people.

Here are the 10 most expensive places to live in Tennessee for 2023:

  1. Nashville
  2. Sevierville
  3. Collegedale
  4. Goodlettsville
  5. Thompson's Station
  6. Cookeville
  7. Gallatin
  8. Lebanon
  9. Franklin
  10. Chattanooga

What's the most expensive place to live in Tennessee? Well, HomeSnacks crunched the numbers and discovered that Nashville is the most expensive place to live in Tennessee.

So hopefully Henderson (the cheapest place to live in Tennessee) can show these guys how to live on a budget in the coming years. Read on for how these places had costs rise faster than inflation.

And if you already knew these places were expensive, check out some more reading about Tennessee and the most expensive cities in the country:

The 10 Most Expensive Places To Live In Tennessee For 2023

1. Nashville

Nashville, TN

Source: Public domain
Overall SnackAbility

7
/10

Population: 682,646
Rank Last Year: 3 (Up 2)
Home Price To Income Ratio: 4.4x (6th most expensive)
Income To Rent Ratio: 52.5x (15th most expensive)
More on Nashville: Real Estate | Data | Photos

The median income in Nashville comes in at $65,565 and the median home value is $291,400 for 2023.

2. Sevierville

Sevierville, TN

Overall SnackAbility

4
/10

Population: 18,038
Rank Last Year: 4 (Up 2)
Home Price To Income Ratio: 5.0x (most expensive)
Income To Rent Ratio: 51.7x (12th most expensive)
More on Sevierville: Real Estate | Data | Photos

The median income in Sevierville comes in at $45,073 and the median home value is $223,800 for 2023.

3. Collegedale

Collegedale, TN

Overall SnackAbility

8
/10

Population: 10,973
Rank Last Year: 8 (Up 5)
Home Price To Income Ratio: 4.2x (9th most expensive)
Income To Rent Ratio: 52.5x (16th most expensive)
More on Collegedale: Real Estate | Data | Photos

The median income in Collegedale comes in at $64,042 and the median home value is $267,400 for 2023.

4. Goodlettsville

Overall SnackAbility

6
/10

Population: 17,522
Rank Last Year: 2 (Down 2)
Home Price To Income Ratio: 4.2x (10th most expensive)
Income To Rent Ratio: 53.1x (2most expensive)
More on Goodlettsville: Real Estate | Data

The median income in Goodlettsville comes in at $63,245 and the median home value is $263,100 for 2023.

5. Thompson's Station

Overall SnackAbility

6
/10

Population: 7,011
Rank Last Year: 1 (Down 4)
Home Price To Income Ratio: 4.1x (11th most expensive)
Income To Rent Ratio: 57.0x (37th most expensive)
More on Thompson's Station: Real Estate | Data

The median income in Thompson's Station comes in at $100,301 and the median home value is $415,400 for 2023.

6. Cookeville

Cookeville, TN

Overall SnackAbility

5
/10

Population: 34,068
Rank Last Year: 14 (Up 8)
Home Price To Income Ratio: 4.6x (3rd most expensive)
Income To Rent Ratio: 55.5x (29th most expensive)
More on Cookeville: Real Estate | Data | Photos

The median income in Cookeville comes in at $43,611 and the median home value is $200,300 for 2023.

7. Gallatin

Gallatin, TN

Overall SnackAbility

8
/10

Population: 43,306
Rank Last Year: 14 (Up 8)
Home Price To Income Ratio: 4.0x (13th most expensive)
Income To Rent Ratio: 55.2x (28th most expensive)
More on Gallatin: Real Estate | Data | Photos

The median income in Gallatin comes in at $62,881 and the median home value is $252,300 for 2023.

8. Lebanon

Lebanon, TN

Source: Public domain
Overall SnackAbility

6
/10

Population: 37,471
Rank Last Year: 10 (Up 2)
Home Price To Income Ratio: 4.6x (4th most expensive)
Income To Rent Ratio: 57.5x (43rd most expensive)
More on Lebanon: Real Estate | Data | Photos

The median income in Lebanon comes in at $60,582 and the median home value is $277,800 for 2023.

9. Franklin

Franklin, TN

Overall SnackAbility

9
/10

Population: 81,531
Rank Last Year: 10 (Up 1)
Home Price To Income Ratio: 4.6x (5th most expensive)
Income To Rent Ratio: 63.0x (64th most expensive)
More on Franklin: Real Estate | Data | Photos

The median income in Franklin comes in at $102,721 and the median home value is $468,200 for 2023.

10. Chattanooga

Chattanooga, TN

Overall SnackAbility

4
/10

Population: 180,353
Rank Last Year: 13 (Up 3)
Home Price To Income Ratio: 3.8x (2most expensive)
Income To Rent Ratio: 52.6x (18th most expensive)
More on Chattanooga: Real Estate | Data | Photos

The median income in Chattanooga comes in at $50,437 and the median home value is $189,500 for 2023.

Methodology: How We Determined The Most Expensive Places To Live In The Volunteer State For 2023

Map Of The Cheapest Places To Live In Tennessee
The two most important things to think about when it comes to being able to afford if you can live comes down to:

  1. How much do money do I make?
  2. 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 2017-2021 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 most 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 97 places in Tennessee that have more than 5,000 people.

The place with the highest cost of living in Tennessee according to the data is Nashville. You can download the data here.

Summary: Taking A Chunk Out Of Your Paycheck In Tennessee For 2023

Well there you have it, the places in Tennessee that have the highest cost of living, with Nashville ranking as the most expensive city in the Volunteer State.

Here's a look at the most affordable cities in Tennessee according to the data:

  1. Henderson
  2. Dayton
  3. Church Hill

For more Tennessee reading, check out:

Detailed List Of The Most Expensive Cities In Tennessee

Rank City ExpensiveScore Population Home/Income Ratio Income/Rent Ratio
1 Nashville 11.33 682,646 4.4x 52.5x
2 Sevierville 12.67 18,038 5.0x 51.7x
3 Collegedale 14.33 10,973 4.2x 52.5x
4 Goodlettsville 16.67 17,522 4.2x 53.1x
5 Thompson's Station 17.33 7,011 4.1x 57.0x
6 Cookeville 20.33 34,068 4.6x 55.5x
7 Gallatin 20.33 43,306 4.0x 55.2x
8 Lebanon 21.0 37,471 4.6x 57.5x
9 Franklin 24.0 81,531 4.6x 63.0x
10 Chattanooga 24.33 180,353 3.8x 52.6x
11 Columbia 25.67 40,957 3.7x 52.7x
12 Murfreesboro 25.67 148,970 4.1x 58.1x
13 Spring Hill 27.67 48,403 3.6x 58.4x
14 Hendersonville 28.0 60,628 3.9x 61.5x
15 Cleveland 28.33 46,747 4.0x 57.1x
16 Red Bank 29.0 11,855 3.8x 55.0x
17 Nolensville 29.33 13,393 3.3x 57.3x
18 Crossville 30.33 11,892 4.6x 59.6x
19 La Vergne 30.67 38,127 3.1x 47.9x
20 Brentwood 32.33 44,354 4.3x 78.1x
21 Knoxville 32.33 189,339 3.5x 47.2x
22 Johnson City 34.0 69,521 3.8x 57.3x
23 Fairview 34.0 9,299 3.8x 64.4x
24 Covington 35.33 8,666 3.7x 40.9x
25 Smyrna 36.33 52,401 3.4x 59.1x
26 Jackson 37.33 67,753 3.3x 48.7x
27 Lexington 37.67 7,849 3.8x 55.5x
28 Athens 38.67 13,961 3.9x 57.6x
29 Mount Juliet 39.0 38,059 3.2x 60.4x
30 Springfield 39.67 18,561 3.4x 57.2x
31 Millersville 40.0 6,099 3.2x 57.5x
32 Lawrenceburg 40.0 11,460 3.6x 50.3x
33 Martin 40.67 10,536 3.6x 54.1x
34 Morristown 41.67 30,387 3.3x 48.3x
35 Oakland 43.0 8,805 2.5x 45.5x
36 Lafayette 43.67 5,458 3.3x 46.8x
37 Pigeon Forge 44.67 6,362 3.7x 66.7x
38 Farragut 46.0 23,388 3.3x 85.7x
39 Kingsport 47.0 55,019 3.6x 59.8x
40 White House 49.67 12,820 3.0x 63.8x
41 Manchester 50.0 11,956 3.5x 62.8x
42 Arlington 50.33 14,158 2.7x 59.6x
43 Lenoir City 50.33 9,953 3.3x 61.6x
44 Signal Mountain 50.33 8,770 3.1x 82.6x
45 Savannah 51.33 7,157 3.3x 56.2x
46 Bartlett 51.67 57,639 2.5x 56.1x
47 Shelbyville 51.67 23,005 3.1x 56.0x
48 Maryville 53.0 31,281 3.2x 74.3x
49 Millington 53.33 10,583 2.7x 47.3x
50 Clarksville 53.67 163,518 2.9x 57.9x
51 Fayetteville 53.67 6,988 3.5x 65.6x
52 East Ridge 55.0 21,967 2.9x 53.6x
53 Collierville 55.0 50,669 2.9x 82.2x
54 Dickson 55.33 15,855 3.3x 68.3x
55 Greeneville 55.67 15,361 3.6x 73.5x
56 Bolivar 56.0 5,177 2.9x 40.2x
57 Paris 57.67 10,332 2.9x 52.1x
58 Lakeland 57.67 13,693 2.9x 76.8x
59 Elizabethton 58.0 14,112 3.3x 62.5x
60 Greenbrier 58.33 6,845 3.0x 80.1x
61 Newport 58.5 6,845 2.9x 52.6x
62 Dunlap 58.67 5,252 2.8x 51.8x
63 Bristol 58.67 27,154 3.2x 62.2x
64 Pulaski 59.0 8,163 3.1x 57.8x
65 Alcoa 59.0 10,777 3.0x 62.9x
66 Soddy-Daisy 59.33 13,090 3.1x 66.9x
67 Memphis 60.33 634,139 2.6x 45.6x
68 Sweetwater 60.33 6,228 3.5x 66.8x
69 Portland 60.33 13,031 2.9x 63.6x
70 Clinton 60.33 9,982 3.1x 67.2x
71 Tullahoma 60.67 20,599 3.2x 71.3x
72 Union City 61.0 11,119 3.0x 56.3x
73 Erwin 61.33 6,052 3.4x 66.3x
74 Mcminnville 62.33 13,699 3.0x 56.7x
75 Germantown 63.0 40,955 2.7x 94.4x
76 Jefferson City 63.0 8,173 3.1x 64.3x
77 Ripley 63.83 7,856 2.8x 53.0x
78 Winchester 64.67 9,299 3.1x 67.6x
79 Oak Ridge 65.33 31,087 2.8x 66.0x
80 Hartsville/trousdale County 65.67 11,463 3.1x 83.7x
81 Atoka 66.67 9,863 2.6x 69.4x
82 Jonesborough 67.0 5,747 2.9x 78.1x
83 Brownsville 68.0 9,807 2.7x 53.4x
84 Lewisburg 69.0 12,131 2.8x 59.4x
85 Munford 70.67 6,269 2.5x 76.9x
86 Harriman 71.0 5,936 2.8x 59.5x
87 Humboldt 71.33 7,899 2.6x 54.6x
88 Dyersburg 71.67 16,235 2.9x 66.8x
89 Kingston 75.0 5,942 2.7x 89.1x
90 La Follette 75.33 7,384 2.3x 55.7x
91 Rockwood 77.0 5,492 2.6x 58.4x
92 Mount Carmel 80.33 5,460 2.6x 82.9x
93 Mckenzie 83.33 5,590 2.6x 67.9x
94 Milan 85.33 8,143 2.3x 65.4x
95 Church Hill 86.0 6,973 2.2x 89.5x
96 Dayton 86.33 7,112 2.6x 71.9x
97 Henderson 90.67 6,232 2.2x 67.5x

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About Chris Kolmar

Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.

He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.

If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.

You can find out more about him on LinkedIn or his website.