Tags: Retirement | US State Facts | retirement | Tennessee | affordable places

Most Affordable Places for Retirees in Tennessee

By    |   Sunday, 22 Nov 2015 09:11 PM

Tennessee is a beautiful spot for retirees to live out their golden years. Aligned with its beauty is the low cost of living, always a consideration high on the list of anyone planning to live on a fixed income.

Dotted throughout the state are towns and cities ideal for retirees, some more affordable than others. For the retiree, the priority is to find an area of good quality of life combined with a low cost of living.

Here are some of the most affordable places in Tennessee for retirees.

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Chattanooga
This city of over 167,000 in the southern part of the state offers much to the retiring citizen. The median cost of a home in the city is below the national average at just $116,300, MarketWatch reported. There is a free electric shuttle service connecting the downtown shopping areas with the Northside and Riverside districts giving savings on transport costs. For the more independent, active adult, the city runs a bike rental service from the many kiosks dotted around Chattanooga. With a sales tax rate of 7.25 percent, the city is just below the average for the state. The cost of living rate in the city is at 8.5 percent lower than average, making Chattanooga a popular city for retirees.

Springfield
A growing city in the northern part of the state, Springfield is proving to be an affordable place for retirees. The main reason is the cheap price of land, allowing retirees to build that dream home on a sizeable piece of real estate. The median cost of a built home is a little over $93,000, which is way below the national average, MarketWatch reported. The cost of living is a good bit below the national average at 13.7 percent. With its many dining spots, good health care, and manageable size, Springfield is a viable option to retirees looking for an affordable town in Tennessee in which to live.

Memphis
The largest city in the state of Tennessee is also among the most affordable. Median home prices are just over $93,000, which is way below the national average for quality housing, according to Movoto. In a ranking of food costs, utilities, and home prices, Memphis tied for top spot with other cities and even came out on top for overall miscellaneous costs of living. The city has many arts and cultural festivals with low and free entry prices to many events.

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Bristol
This town also has a low median house cost of just $99,000, which is an obvious attraction to many retirees, Movoto said. Bristol also has a low cost of living index giving rise to cheap utilities and food prices. The town has many festivals to coincide with its name as “the birthplace of country music,” and the thriving music scene offers many cheap or free events throughout the year. For the lover of country music looking to retire to an affordable urban area, Bristol checks all the boxes.

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Tennessee is a beautiful spot for retirees to live out their golden years. Aligned with its beauty is the low cost of living, always a consideration high on the list of anyone planning to live on a fixed income.
retirement, Tennessee, affordable places
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2015-11-22
Sunday, 22 Nov 2015 09:11 PM
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