Quick facts: Chattanooga, TN

Quick Facts

99.5
Cost of Living
below US average
184,086
Population
63.07
Crime Rate per 1000
above US average
$57,703
Median Income
below US average
$307,500
Median House Price
above US average
$3297.5
Average Rent
above US average
18%
Poverty Rate
above US average
4.0%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $57,703.

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Income Needed to Buy

βœ— Stretch
$96k/year
Based on $307,500 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $96k vs median $57,703
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Income Needed to Rent

⚠ Stretch
$141k/year
Based on $3297.5/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $141k vs median $57,703
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Chattanooga, TN

Chattanooga, Tennessee, nestled in the scenic foothills of the Appalachian Mountains, is known for its rich history, vibrant arts scene, and outdoor adventures. The city is situated along the Tennessee River and is easily accessible via major highways, making it a gateway to nearby natural attractions. Chattanooga boasts a revitalized downtown area featuring a variety of shops, restaurants, and cultural venues. The Tennessee Aquarium, a major attraction, showcases diverse aquatic ecosystems, while the Creative Discovery Museum engages families with interactive exhibits. Outdoor enthusiasts can enjoy hiking and biking along the numerous trails, including those in Lookout Mountain and Signal Mountain, where breathtaking views await. The area is also popular for rock climbing, rafting, and exploring the beautiful parks like Coolidge Park and Point Park. Chattanooga is home to a burgeoning craft beer scene and hosts annual events like the Chattanooga Market and Riverbend Festival. With its blend of nature, culture, and history, Chattanooga offers a unique Southern charm and a lively atmosphere for both residents and visitors.

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