Chattanooga, Tennessee Housing Market Prices
Chattanooga Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 25% above the Tennessee median$319,605
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Median rent 6% above the Tennessee median$1,256
Housing Market Overview
| Metric | Chattanooga | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $319,605 | $255,786 | $248,835 |
| Price Trend (Annual %) | 13.7% | 9.9% | 7.5% |
| Median Gross Rent | $1,256 | $1,188 | $1,407 |
| Rent Trend (Annual %) | 6.4% | 5.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Chattanooga is about 25% higher than in Tennessee. Rent is about 6% higher than the Tennessee average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Chattanooga, up about 13.7% and 6.4% a year respectively. Home prices are changing faster.
Median rent in Chattanooga rose about 67.0% between 2015 and 2024, from $752 to $1,256. Over the same span, rent in Tennessee rose about 55.6%.
Affordability
On average, housing unit costs 4.9 yearly household incomes in Chattanooga.
Buying the median-priced home in Chattanooga costs roughly 21.2 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Chattanooga. The price-to-rent ratio in Tennessee is about 17.9.
| Metric | Chattanooga | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $319,605 | $255,786 | $248,835 |
| Median Household Income | $65,773 | $69,901 | $80,455 |
| Price-to-Income Ratio | 4.9 | 3.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Chattanooga rose about 166.2%, while median household income rose about 58.0% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Chattanooga | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 47.5% | 60.1% | 58.5% |
| Rental Rate | 42.7% | 29.7% | 31.2% |
| Vacancy Rate | 9.8% | 10.2% | 10.2% |
| Median Tenure (years) | 11.0 | 14.0 | 15.0 |
| Median Year Moved In | 2015 | 2012 | 2011 |
Chattanooga has a homeownership rate of 47.5%, lower than the Tennessee average of 60.1%. Its housing vacancy rate is 9.8%, compared with 10.2% in Tennessee.
Housing Stock
| Metric | Chattanooga | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.29 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1975 | 1986 | 1978 |
| Median Number of Rooms | 5.3 | 5.7 | 5.5 |
The typical housing unit in Chattanooga was built around 1975. On average, 2.3 people live in a home with about 5.3 rooms, staying for about 11.0 years on average.
Chattanooga, TN Housing Compared With Nearby Cities
How Chattanooga, TN compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Chattanooga, TN | 187,055 | $319,605 #1/2 | $1,256 #1/2 | 52.6% #2/2 |
| East Ridge, TN | 21,177 | $272,305 | $1,155 | 58.1% |
Frequently Asked Questions
Common questions about the housing market in Chattanooga, Tennessee.
What is the median home price in Chattanooga, Tennessee?
The median home price in Chattanooga, Tennessee is $319,605, higher than the Tennessee average of $255,786.
What is the average home price in Chattanooga, Tennessee?
The typical home price in Chattanooga, Tennessee, reported as the median sale price, is $319,605. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Chattanooga, Tennessee?
The median gross rent in Chattanooga, Tennessee is $1,256 per month, higher than the Tennessee average of $1,188.
What was the median gross rent in Chattanooga in 2020?
In 2020, the median gross rent in Chattanooga, Tennessee was $897 per month.
What is the price-to-rent ratio in Chattanooga, Tennessee?
The price-to-rent ratio in Chattanooga, Tennessee is about 21.2, meaning it would take roughly 21.2 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Chattanooga.
Are home prices or rent rising faster in Chattanooga, Tennessee?
Both home prices and rent are rising in Chattanooga, up about 13.7% and 6.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Chattanooga, Tennessee?
47.5% of households in Chattanooga, Tennessee own their home, lower than the Tennessee average of 60.1%.
What is the vacancy rate in Chattanooga, Tennessee?
The housing vacancy rate in Chattanooga, Tennessee is 9.8%, lower than the Tennessee average of 10.2%.
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