Chattanooga real estate market overview
- Average Monthly Rent: $1,372
- Home Price/Value Percentage Change: 6.60%
- Median Home Value: $275,256
- Best Time To Sell a Home: December
- Affordability Index: Moderate
- Days To Sell a House: 37
- Job Market: Fair
- Public School Ranking: 28
Location and weather
Chattanooga is a ravishing city surrounded by rolling hills. It's located in the valley of southeastern Tennessee, between the Appalachian and the Cumberland mountain ranges. The city lies on both banks of the Tennessee River at Moccasin Bend. The Chattanooga Aquarium and revitalized downtown area make it a tourist destination full of cobblestone streets and stately brick buildings.
The summers in Chattanooga are warm and humid, while the winters are short and cool. High temperatures are in the 80's, with lows in the 70's. Winter temperatures are in the mid-50's, with lows in the 30's. Fall and spring are known to be the most temperate and beautiful time of year.
Population, job market and cost of living
Chattanooga is the second fastest growing city in Tennessee, with a 2023 population of 185,125 and a growth rate of 0.73%.
The job growth has decreased by -5.45% over the last year and in ten years, is predicted to have increased by 44.47%. The largest industries are in health care, social assistance, retail trade and manufacturing. The largest employers are Steward, U.S. Xpress, Unum, Craftworks and Walden Security.
The cost of living is low, due to the real estate market and availability of homes and land. It is only 2 ½ hours from Nashville and less than 2 hours from Atlanta, which makes it close to major cities and airports. The Chattanooga Aquarium and revitalized downtown area make it a tourist destination full of cobblestone streets and stately brick buildings. With its mild seasons, thriving downtown area, major attractions, and low cost of living, Chattanooga will continue to attract people looking to live in a city with beautiful mountainside views.
Chattanooga real estate market details
- Downtown Chattanooga
- North Chattanooga
There has been a 6.6% increase in median home value over the last year. As of 2023, the median home value is $275,256.
The best time to sell a home for the highest valued sale is during December. For the quickest sale, homeowners should sell in August.
The affordability index in Chattanooga is 87. This number indicates moderate affordability in this city.
The top ranked public schools are Chattanooga School for the Liberal Arts, Westview Elementary School, Chattanooga School for the Arts and Science Lover, Hamilton County Collegiate High at Chattanooga State and Chatt High Center for Creative Arts. This information is based on data measuring academic performance and equity.