A modern home community in Chattanooga, TN featuring contemporary houses with well-maintained lawns, set against a backdrop of scenic mountains and clear blue skies.

What is the Cost of Living in Chattanooga, TN in 2024?

Introduction

Chattanooga, TN, known for its picturesque landscapes and vibrant community, is also recognized for its affordability. As we enter 2024, understanding the cost of living in Chattanooga is essential for potential movers and residents. This guide provides an in-depth look at the various expenses associated with living in Chattanooga, including housing, utilities, transportation, and more.

Housing Costs

Housing is one of the most significant factors in the cost of living. In Chattanooga, housing remains relatively affordable compared to national averages.

Home Prices

  • Median Home Price: The median home price in Chattanooga is approximately $287,400, which is considerably lower than the national average of $342,700 [source].
  • Home Value Growth: Over the past year, home values have increased by 5.5%, indicating a steady rise in property prices [source].

Rental Prices

  • Average Rent for a One-Bedroom Apartment: The average rent for a one-bedroom apartment in Chattanooga is around $1,400 per month. However, more affordable options can be found in neighborhoods like East Ridge and Belvoir, where rents average closer to $1,100 per month [source].
  • Rental Market Trends: Chattanooga’s rental market is diverse, offering everything from trendy downtown lofts to peaceful suburban apartments, catering to various lifestyles and budgets [source].

Utilities

Utilities in Chattanooga are generally lower than the national average, contributing to the city’s overall affordability.

Utility Costs

  • Electricity: On average, residents can expect to pay about $135 per month for electricity, depending on the size of the home and usage [source].
  • Water and Sewer: Monthly water and sewer bills typically range between $30 and $50 [source].
  • Internet and Cable: High-speed internet services average around $60 per month, while cable TV packages can add an additional $50 to $100 per month [source].

Transportation

Transportation costs in Chattanooga are relatively low, with most residents relying on personal vehicles for commuting.

Public Transportation

  • Bus Services: The Chattanooga Area Regional Transportation Authority (CARTA) operates the city’s public bus service. A monthly bus pass costs approximately $50 [source].
  • Electric Shuttle: Downtown Chattanooga offers a free electric shuttle service, providing convenient access to major attractions and shopping areas [source].

Personal Vehicles

  • Fuel Costs: Gasoline prices in Chattanooga are generally lower than the national average, making driving more affordable [source].
  • Insurance: Car insurance rates in Chattanooga are competitive, with average monthly premiums around $80 [source].
  • Maintenance and Repairs: Routine maintenance and repairs are also relatively inexpensive compared to larger metropolitan areas [source].

Grocery and Food Costs

Groceries and dining out in Chattanooga are affordable, contributing to the city’s lower cost of living.

Grocery Prices

  • Average Grocery Bill: The average monthly grocery bill for a family of four is around $800, which is lower than the national average [source].
  • Local Markets: Chattanooga offers several farmers’ markets and local grocers, providing fresh and affordable produce [source].

Dining Out

  • Restaurants: Dining out in Chattanooga is affordable, with meal prices at casual restaurants averaging around $12 to $15 per person. Fine dining options are also available, with meals averaging $30 to $50 per person [source].
  • Local Favorites: The city boasts a vibrant food scene with popular spots like Milk & Honey, Taco Mamacita, and the Bitter Alibi [source].

Healthcare

Healthcare costs in Chattanooga are competitive, with numerous facilities providing quality care at reasonable prices.

Healthcare Services

  • Hospitals: Major healthcare providers include Erlanger Health System and CHI Memorial Hospital, both recognized for their high-quality care [source].
  • Insurance Premiums: Health insurance premiums in Chattanooga are lower than the national average, with monthly costs averaging around $300 for individual plans and $800 for family plans [source].

Education

Chattanooga offers a range of educational opportunities, from public schools to higher education institutions.

Public Schools

  • School Quality: Chattanooga has a mix of highly rated and average public schools. Parents are encouraged to research and choose schools that best meet their children’s needs [source].
  • Private Schools: The city also has several private schools offering diverse educational programs at various tuition rates [source].

Higher Education

  • University of Tennessee at Chattanooga: The city’s primary higher education institution, offering a wide range of undergraduate and graduate programs [source].
  • Chattanooga State Community College: Provides affordable community college options with various technical and vocational programs [source].

Conclusion

The cost of living in Chattanooga, TN, in 2024 remains lower than the national average, making it an attractive destination for individuals and families seeking affordability without sacrificing quality of life. With its diverse housing options, reasonable utility and transportation costs, affordable groceries, and quality healthcare and education, Chattanooga continues to offer a balanced and fulfilling lifestyle for its residents.