Best Places to Live in Tennessee

Tennessee can be a wonderful and affordable place to live. Some of the reasons why it’s popular: its natural beauty, welcoming climate, ample career and educational opportunities, and plenty of arts and cultural activities as well. In addition, the state offers a low cost of living and no state income tax.

Some of the state’s popular places include Nashville, known for its country music scene, nightlife, and growing job market. There’s also Chattanooga, which is close to the Appalachian Mountains and many historical sites, and Memphis, home of the blues, with a thriving music scene, as well as the Memphis Zoo, a popular family attraction.

This guide will introduce you to these and other great places to live in Tennessee.

💡 Quick Tip: You deserve a more zen mortgage loan. When you buy a home, SoFi offers a guarantee that your loan will close on time. Backed by a $5,000 credit.‡

Best Affordable Places to Live in Tennessee

It’s official: Tennessee has been “discovered.” Since we last reported our Best Affordable Places list, home values have ballooned here, especially in cities like Nashville and Knoxville. While you’ll no longer find many home price-to-income ratios in the 1s and 2s, there are still cities and towns that hold out the promise of affordable houses and a low cost of living. The three locations below offer a money-smart lifestyle and many amenities.

1. Memphis

2. Jackson

3. Chattanooga

Recommended: Different Types of Mortgage Loans

Best Places to Live in Tennessee for Families

If you have kids or they’re in your future, there are an array of best places to live in Tennessee for families. Here, three top-notch locations for raising a clan.

1. Germantown

2. Collierville

3. Farragut

💡 Quick Tip: A VA loan can make home-buying simple for qualified borrowers. Because the VA guarantees a portion of the loan, you could skip a down payment. Plus, you could qualify for lower interest rates, enjoy lower closing costs, and even bypass mortgage insurance.†

Best Places to Live in Tennessee for Young Adults

Recent grads and young professionals are often looking for certain things in a town: a robust job market, reasonable cost of living, and lots of entertainment and nightlife options. Here, learn more about three of the best places to live in Tennessee for young adults.

1. Memphis

2. Chattanooga

3. Nashville

Best Places to Live in Tennessee for Retirees

For those looking for the best places to live in Tennessee for retirees, keep this list handy. It contains three towns to consider that have access to nature and historical and cultural attractions, as well as reasonably priced real estate and good medical facilities.

1. Collierville

2. Paris

3. Kingsport

Recommended: Cost of Living by State

Best Places to Live in Tennessee Near the Water

Granted, there’s no oceanfront property, but that doesn’t mean there’s a lack of great places to live in Tennessee near the water. If you like strolling by a lake’s shore or paddling down a river, there are plenty of options in the state.

1. Ashland City

2. Waverly

3. Kingston Springs

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The Takeaway

Tennessee offers a wealth of affordable places to live, whether you’re just starting out after graduation, raising a family, retiring, or looking for a place to put down roots near the water. If you are contemplating buying a home, it’s a good idea to do your research and see what kind of mortgage loans are available.

If you are contemplating buying a home, it’s a good idea to do your research and see what kind of mortgage loans are available.

Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.

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FAQ

Where is the most desirable place to live in Tennessee?

Some of the most desirable places to live in Tennessee include the larger cities such as Nashville, Memphis, and Chattanooga. Many people find the combination of amenities and job opportunities attractive.

What is the best part of living in Tennessee?

Some of the best parts of living in Tennessee include the plentitude of outdoor activities, cultural sights, and the music scene in multiple cities. In addition, the mild climate and affordable cost of living can be very attractive.

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Qualifying for the reward requires using a real estate agent that participates in HomeStory’s broker to broker agreement to complete the real estate buy and/or sell transaction. You retain the right to negotiate buyer and or seller representation agreements. Upon successful close of the transaction, the Real Estate Agent pays a fee to HomeStory Real Estate Services. All Agents have been independently vetted by HomeStory to meet performance expectations required to participate in the program. If you are currently working with a REALTOR®, please disregard this notice. It is not our intention to solicit the offerings of other REALTORS®. A reward is not available where prohibited by state law, including Alaska, Iowa, Louisiana and Missouri. A reduced agent commission may be available for sellers in lieu of the reward in Mississippi, New Jersey, Oklahoma, and Oregon and should be discussed with the agent upon enrollment. No reward will be available for buyers in Mississippi, Oklahoma, and Oregon. A commission credit may be available for buyers in lieu of the reward in New Jersey and must be discussed with the agent upon enrollment and included in a Buyer Agency Agreement with Rebate Provision. Rewards in Kansas and Tennessee are required to be delivered by gift card.

HomeStory will issue the reward using the payment option you select and will be sent to the client enrolled in the program within 45 days of HomeStory Real Estate Services receipt of settlement statements and any other documentation reasonably required to calculate the applicable reward amount. Real estate agent fees and commissions still apply. Short sale transactions do not qualify for the reward. Depending on state regulations highlighted above, reward amount is based on sale price of the home purchased and/or sold and cannot exceed $9,500 per buy or sell transaction. Employer-sponsored relocations may preclude participation in the reward program offering. SoFi is not responsible for the reward.

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SOHL-Q125-121

By Kenny Zhu

(Last Updated – 03/2025)

From the boundless canyons of Yellowstone National Park to the cascading alpine vistas of Grand Teton, there’s no denying that Wyoming is one of America’s most beautiful states.

The fact that it’s one of America’s least-populated states, with just under six residents per square mile, means that it’s certainly not a bad pick if you’re looking to get away from crowds.

If you’re one of those lovers of open roads and sprawling views, Wyoming just might be the state for you. The lack of a state income tax also doesn’t hurt!

Let’s take an in-depth dive into the Wyoming cost of living.

What’s the Average Cost of Living in Wyoming?

Average Cost of Living in Wyoming: $56,941 per year

Wyoming has the second lowest cost of living index among all of the Rocky Mountain states, beating out neighbors like Utah, Colorado, and Idaho. The state ranks among the top 25 most affordable states in the nation, according to MERIC data collected in 2024.

According to the latest data from the Bureau of Economic Analysis, average personal consumption expenditures totaled $56,941 per person in Wyoming.

Breaking down the expenses provides a snapshot of what the annual cost of living in Wyoming might look like.

Here’s a breakdown of the average annual expenditures by category.

That translates to average monthly expenses of $4,745 per person.

Housing Costs in Wyoming

Median Housing Costs in Wyoming: $739 to $1,582 per month

Wyoming is sparsely populated with plenty of plains, mountains, and even desert in between. The state has just 280,121 housing units, according to data from the U.S. Census Bureau.
The average home value in Wyoming is $353,826 as of February 2025, Zillow said, which falls beneath the national average home value of $357,138. However, there are outliers: Homes in the coveted Jackson Hole area can go for millions of dollars.

General costs of putting a roof over your head in Wyoming, according to the latest census data:

•  Median monthly mortgage cost: $,1691

•  Median studio rent: $747

•  Median one-bedroom rent: $739

•  Median two-bedroom rent: $922

•  Median three-bedroom rent: $1,310

•  Median four-bedroom rent: $1,369

•  Median five-bedroom or more rent: $1,582

•  Median gross rent: $1,000

As with any market, your costs will vary according to your location. Here are typical home values for Wyoming’s top cities, according to Zillow’s February 2025 data.

Utility Costs in Wyoming

Average Utility Costs in Wyoming: $351 per month

Utility costs make up a portion of your monthly expenses. Here’s a snapshot of these costs for the typical Wyomingite.

Sources: U.S. Energy Information Administration, Electric Sales, Revenue, and Average Price, 2023; Statista.com, “Average monthly residential utility costs in the United States in 2023, by state; DoxoInsights, U.S. Cable & Internet Market Size and Household Spending Report 2023; and Rentcafe.com, What Is the Average Water Bill?

Food & Beverage

Average Food & Beverage Costs in Wyoming: $408 per month

Compared with popular neighboring state Utah, Wyoming is not as cheap state when it comes to food costs. Wyoming ranked the third most expensive in the entire Rocky Mountain region, with only Colorado and Montana scoring higher on food expenses.

According to the Bureau of Economic Analysis, Wyoming’s per-capita average annual cost of food and beverages is $4,896, which comes out to around $408 per month. These costs vary widely even within the state, as high-cost areas like Laramie and Jackson can skew data upward.

The Council for Community and Economic Research ranks grocery costs in major cities across the United States. Here are the comparative grocery costs in the Rocky Mountain region for 2024, from lowest to highest.

Transportation

Average Transportation Costs in Wyoming: $11,733 to $21,833 per year

Cruising the open roads of Wyoming while listening to your favorite tunes is a thrill that can be enjoyed by anyone with a set of wheels; it will unfortunately still require you to keep one eye on the fuel gauge. Luckily, when compared with the rest of the nation, Wyoming actually has lower-than-average transportation costs.

Transportation costs in Wyoming will vary according to the size of your family. Here are estimated costs, according to MIT’s Living Wage Calculator for 2025.

Health Care

Average Health Care Costs in Wyoming: $9,050 per person, per year

Annual health care costs in Wyoming usually hover around $9,050 per person, according to the Bureau of Economic Analysis Personal Consumption Expenditures report. Individual results will vary based on personal factors such as your age, medical needs, and health insurance coverage.

It’s a good idea to purchase sufficient health insurance to help manage costs in the event of emergencies. Go to healthcare.gov to find out more about affordable health insurance in Wyoming.

Child Care

Average Child Care Costs in Wyoming: $664 to $1,248 per child, per month

Average child care costs in Wyoming will vary by location and the type of care sought. Interestingly enough, home-based family care comes in cheaper than classroom settings in Wyoming.

The Wyoming Department of Family Services is an excellent resource for parents seeking more information about child care providers or subsidies.

Here are average child care costs in Wyoming from CostofChildCare.org.

Taxes

Average Taxes in Wyoming: No income tax

Wyoming is one of nine states that do not levy individual income tax whatsoever as of 2025.

Miscellaneous Costs

What’s left after covering typical living costs like housing, utilities, and taxes? Hopefully enough money to cover some of Wyoming’s everyday pleasures. Here’s how much some popular activities and foods in the Cowboy State will set you back.

•  Admission to Yellowstone National Park: $35 for a single vehicle for 7 days

•  Admission to Grand Teton National Park: $35 for a single vehicle for 7 days

•  Bison burger: ~$21

•  A 16-oz. ribeye steak: ~$45

Most of Wyoming’s wide-open prairies can be enjoyed at no cost and usually without crowds. As mentioned, Wyoming has the fewest residents of any state in the country, with just about six people per square mile as per Census data. The nation’s 10th largest state in total area, nearly half of all of Wyoming’s land is federal public land.

While you’re in Wyoming, if meat is your thing, try its famous bison burgers and steakhouses, as they’re both a local staple.

How Much Money Do You Need to Live Comfortably in Wyoming?

If you’re still wondering “How much does it cost to live in Wyoming?,” MIT’s Living Wage Calculator provides the following statistics: The average single, childless individual working 40 hours a week for 52 weeks a year would need to make $21.14 an hour, or $43,971 a year, to earn a “living wage” in Wyoming.

The Equality State ranked 25th on MERIC’s 2024 Cost of Living list, coming in as the second-most affordable state within the Rocky Mountain region, three places behind Montana at number 22.

U.S. News & World Report’s Affordability Rankings actually place Wyoming at No. 19 in the United States, slightly weighed down by its rating for housing affordability.

What City Has the Lowest Cost of Living in the Rocky Mountain Region?

To give you a relative idea of Wyoming’s cost of living, here are the lowest-cost cities in the Rocky Mountain region, according to the Council for Community and Economic Research’s Cost of Living Index for 2024.

Casper, Wyoming

Located near Casper Mountain in east-central Wyoming, Casper is the second-largest city in the state, after Cheyenne. Formerly an oil-boom town, Casper has about 58,700 residents and is attractive, thanks to its supply of affordable housing. Of all the metropolitan areas tracked by the council, Casper has the lowest cost of living of all in the Rocky Mountain states.

Great Falls, Montana

The seat of Cascade County, Great Falls is the third-largest city by population in Montana and sits at the edge of the Rocky Mountains, with the great Missouri River running right through it. Great Falls has the second lowest cost of living of all the cities reviewed by the council in the Rocky Mountain states.

Pueblo, Colorado

Just 112 miles south of Denver, Pueblo rose to prominence as a steel city in the late 1800s. With a population of just over 111,000, Pueblo has the lowest cost of living of any city reported by the council in Colorado as well as some of the most affordable homes in the region.

By Lauren Ward

Not only is 705 a good credit score, it’s also in the middle of the FICO® scoring model’s “good” range. With this credit score, you should be able to qualify for most types of financing, although you may not be eligible for the lowest interest rates possible.

Learn about a 705 credit score and what to expect when applying for different types of financing.

What Does a 705 Credit Score Mean?

A 705 credit score is considered “good,” according to FICO, which is the credit scoring model used by the majority of American lenders. It’s also just slightly lower than the average American’s score of 717.

While you’ll likely qualify for most financing opportunities with a 705, improving your score could come with benefits like higher loan amounts and lower interest rates. Here is each level of FICO’s score ranges:

•   Excellent: 800+

•   Very Good: 740 to 799

•   Good: 670 to 739

•   Fair: 580 to 669

•   Poor: 300 to 579

As you can see, a 35-point increase could bump your score from good to very good. Use a free credit monitoring service to keep tabs on your score and get advice on next steps for improving your score.

What Can You Get with a 705 Credit Score?

With a 705 credit score, you’re in good shape to qualify for most types of financing, although you may not get the very best interest rate possible.

Remember that in addition to your credit score, lenders also look at factors like your employment history and debt-to-income ratio. It doesn’t entirely matter if a 705 credit score is good or very good; there are other variables at play as well.

Can I Get a Credit Card with a 705 Credit Score?

Yes, you’re likely to qualify for a credit card when your credit score is 705 or higher. Since it’s in the middle of the good category, you may not get the best rate possible, but it should still be competitive. On top of that, you could qualify for credit cards with perks and rewards.

In addition to finding the best rate, look for promotional deals and ongoing benefits when comparing your credit card offers:

•   Signup bonus: A credit card signup bonus lets you earn a statement credit after opening a new card and spending a minimum amount within a certain period of time.

•   Cash-back rewards: Some card accounts accrue cash-back or rewards points based on the amount you charge to the card, oftentimes as a percentage of your purchases.

•   Travel rewards: Travel rewards credit cards may offer perks like airline miles, hotel points, and travel insurance.

Also keep an eye out for fees, which are more common when your card comes with extra perks.

Can I Get an Auto Loan with a 705 Credit Score?

With a 705 credit score, you should be able to qualify for a car loan, and your rate should be fairly competitive as well. At this credit level, the average new car loan rate is 6.87% and the average used car loan rate is 9.36%, according to 2024 data from Experian. That’s not too far off from the average rates offered to borrowers with a higher score, which are 5.25% and 7.13%, respectively.

One factor to consider when thinking about an auto loan is how much car you can afford. Your income and current debt load impact the size of a loan you can take out. Lenders look at all of your monthly debt payments and compare it to your gross income, which is known as your debt-to-income ratio. If it’s too high, you’ll have to borrow a smaller amount for your car.

Making a larger down payment can help you get the car you want while still staying in your lender-approved budget.

Can I Get a Mortgage with a 705 Credit Score?

Yes, most lenders require a 620 credit score to qualify for most home loans, although there are a few exceptions for borrowers with a lower score. But with a 705, you should be able to qualify for the most common mortgages, such as:

•   Conventional loan: The minimum credit score is typically a 620, so you have room to qualify for better rates with a 705.

•   FHA loan: The minimum credit score varies; with a 705, you can qualify for a lower down payment of just 3.5%.

•   VA loan: Designed for military borrowers, a VA loan has no official credit score minimum, but most lenders want to see at least a 620.

•   USDA loan: There’s also no hard minimum for a USDA loan, which can be used to purchase a home in a rural area. But like a VA loan, most lenders require a 620 or higher.

If you’re shopping for a more expensive home, a 705 is also right on the line to qualify for a jumbo loan. This home loan is designed for mortgages above the conforming loan limit. In 2025, most areas in the U.S. have a maximum loan amount of $806,500. A home loan over that limit requires a jumbo loan and a minimum credit score of 700.

No matter what type of home loan you choose, it’s a good idea to shop around for a mortgage lender to find the best total offer that works for your financing goals.

Can I Get a Personal Loan with a 705 Credit Score?

Not only should you qualify for personal loans with a 705 credit score, you should also be able to get a prime loan that’s unsecured. That means you don’t have to use any collateral to qualify. Just like the other types of financing discussed, the amount you can borrow depends on your income and existing debt loads. Use a personal loan calculator to estimate monthly payments using different loan amounts.

A credit card consolidation loan is another option that may come with competitive fixed rates. It can help you get out of debt faster and potentially save money on interest, especially if your credit card has a high APR attached to it.

The Takeaway

Tracking your credit score is a smart idea when you’re applying for a personal loan or other type of financing. A 705 is a good score regardless of what you want to borrow. Maximize your credit limits and loan amounts by keeping your debt balances in check and staying on top of your monthly due dates to keep your payment history strong.

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. See your rate in minutes.