Chattanooga, TN
Hamilton County · Pop. 182,799
Ranked #83 of 243 cities
48Moderate
Median Home Price
🏠$280K
4.0% YoY
Median Rent
🔑$1,200
3.0% YoY
Median Income
💰$48K
Rent Burden
📊31.0%
% of income to rent
Income to Buy
🏦$81K
annual income needed
Income to Rent
📝$48K
annual income needed
Price-to-Income
⚖️5.8x
Homeownership
🏡52.0%
Rent vs. Buy
Buy
$1,490/mo
Est. mortgage (7%, 20% down)
Need $81K/yr income
Rent
$1,200/mo
Median rent
Need $48K/yr income
How Chattanooga Compares
| Metric | Chattanooga | Tennessee | National |
|---|---|---|---|
| Home Price | $280K | $307K | $410K |
| Rent | $1,200 | $1,214 | $1,500 |
| Income | $48K | $68K | $75K |
| Rent Burden | 31.0% | 30.5% | 30.0% |
Key Takeaways
- • Home prices in Chattanooga are 32% lower than the national average.
- • Rent is 20% lower than the national average.
- • You need an income of $81K to comfortably buy a home here.
- • The homeownership rate is 52.0%, compared to 65.0% nationally.