CHEAP HOMES: Which Tennessee counties have the lowest home prices?

The real estate market is booming right now thanks to low-interest rates, a flood of millennial buyers, and shrinking inventory. The median cost of a home has increased 20% year over year, hitting $347,500, according to a report released in April 2020 by real estate listing website Redfin. These high asking costs—while good for sellers—are pricing many buyers out of the market entirely.

But all things are not equal when it comes to real estate in the United States.

Credible used 2021 data calculated by the National Association of REALTORS to compile a list of counties with the lowest median home values and monthly mortgage payments in Tennessee. Counties were ranked by the monthly mortgage payment for a typical home in 2020, from lowest to highest. Ties were broken by median home values in 2020.

The National Association of REALTORS calculated the fourth quarter 2020 median home values by applying the Federal Housing Finance Agency’s House Price Index growth to 2019 housing and population data from the American Community Survey and determining an estimate of 2020 median home values for all counties where data is available. The monthly mortgage payments for fourth quarter 2019 and fourth quarter 2020 were calculated for a 30-year fixed-rate mortgage with a 10% down payment.

Keep reading to discover which county in Tennessee has the lowest home prices.

#30. Lawrence County

– Monthly mortgage payment in 2020: $446 (2.8% less than 2019)
– Monthly mortgage payment in 2019: $459
– Median home value in 2020: $120,500
– Ranked #1,207 out of 3,120 counties nationwide

#29. Warren County

– Monthly mortgage payment in 2020: $446 (7.3% less than 2019)
– Monthly mortgage payment in 2019: $481
– Median home value in 2020: $120,500
– Ranked #1,208 out of 3,120 counties nationwide

#28. Fentress County

– Monthly mortgage payment in 2020: $438 (1.8% less than 2019)
– Monthly mortgage payment in 2019: $446
– Median home value in 2020: $118,200
– Ranked #1,153 out of 3,120 counties nationwide

#27. Claiborne County

– Monthly mortgage payment in 2020: $436 (8.8% less than 2019)
– Monthly mortgage payment in 2019: $478
– Median home value in 2020: $117,800
– Ranked #1,141 out of 3,120 counties nationwide

#26. Campbell County

– Monthly mortgage payment in 2020: $414 (4.2% less than 2019)
– Monthly mortgage payment in 2019: $432
– Median home value in 2020: $111,800
– Ranked #1,013 out of 3,120 counties nationwide

#25. Dyer County

– Monthly mortgage payment in 2020: $412 (6.6% less than 2019)
– Monthly mortgage payment in 2019: $441
– Median home value in 2020: $111,200
– Ranked #999 out of 3,120 counties nationwide

#24. Houston County

– Monthly mortgage payment in 2020: $411 (5.9% less than 2019)
– Monthly mortgage payment in 2019: $437
– Median home value in 2020: $111,000
– Ranked #990 out of 3,120 counties nationwide

#23. Henry County

– Monthly mortgage payment in 2020: $410 (8.9% less than 2019)
– Monthly mortgage payment in 2019: $450
– Median home value in 2020: $110,600
– Ranked #982 out of 3,120 counties nationwide

#22. Hancock County

– Monthly mortgage payment in 2020: $407 (3.0% greater than 2019)
– Monthly mortgage payment in 2019: $395
– Median home value in 2020: $109,900
– Ranked #966 out of 3,120 counties nationwide

#21. Henderson County

– Monthly mortgage payment in 2020: $404 (2.9% less than 2019)
– Monthly mortgage payment in 2019: $416
– Median home value in 2020: $109,200
– Ranked #946 out of 3,120 counties nationwide

| Check out more lists and rankings from across Tennessee →

#20. Morgan County

– Monthly mortgage payment in 2020: $404 (7.8% less than 2019)
– Monthly mortgage payment in 2019: $438
– Median home value in 2020: $109,200
– Ranked #947 out of 3,120 counties nationwide

#19. Haywood County

– Monthly mortgage payment in 2020: $399 (12.1% less than 2019)
– Monthly mortgage payment in 2019: $454
– Median home value in 2020: $107,800
– Ranked #908 out of 3,120 counties nationwide

#18. Crockett County

– Monthly mortgage payment in 2020: $395 (10.2% less than 2019)
– Monthly mortgage payment in 2019: $440
– Median home value in 2020: $106,700
– Ranked #876 out of 3,120 counties nationwide

#17. Scott County

– Monthly mortgage payment in 2020: $393 (2.2% less than 2019)
– Monthly mortgage payment in 2019: $402
– Median home value in 2020: $106,000
– Ranked #849 out of 3,120 counties nationwide

#16. Decatur County

– Monthly mortgage payment in 2020: $392 (6.9% less than 2019)
– Monthly mortgage payment in 2019: $421
– Median home value in 2020: $105,800
– Ranked #846 out of 3,120 counties nationwide

#15. Gibson County

– Monthly mortgage payment in 2020: $391 (7.3% less than 2019)
– Monthly mortgage payment in 2019: $422
– Median home value in 2020: $105,600
– Ranked #841 out of 3,120 counties nationwide

#14. Clay County

– Monthly mortgage payment in 2020: $389 (1.3% less than 2019)
– Monthly mortgage payment in 2019: $394
– Median home value in 2020: $105,200
– Ranked #832 out of 3,120 counties nationwide

#13. McNairy County

– Monthly mortgage payment in 2020: $389 (6.5% less than 2019)
– Monthly mortgage payment in 2019: $416
– Median home value in 2020: $105,100
– Ranked #829 out of 3,120 counties nationwide

#12. Van Buren County

– Monthly mortgage payment in 2020: $389 (5.8% less than 2019)
– Monthly mortgage payment in 2019: $413
– Median home value in 2020: $104,900
– Ranked #824 out of 3,120 counties nationwide

#11. Weakley County

– Monthly mortgage payment in 2020: $388 (9.1% less than 2019)
– Monthly mortgage payment in 2019: $427
– Median home value in 2020: $104,700
– Ranked #820 out of 3,120 counties nationwide

#10. Lewis County

– Monthly mortgage payment in 2020: $379 (5.0% less than 2019)
– Monthly mortgage payment in 2019: $399
– Median home value in 2020: $102,400
– Ranked #763 out of 3,120 counties nationwide

#9. Wayne County

– Monthly mortgage payment in 2020: $377 (19.8% less than 2019)
– Monthly mortgage payment in 2019: $470
– Median home value in 2020: $101,900
– Ranked #746 out of 3,120 counties nationwide

#8. Obion County

– Monthly mortgage payment in 2020: $363 (8.6% less than 2019)
– Monthly mortgage payment in 2019: $397
– Median home value in 2020: $98,000
– Ranked #661 out of 3,120 counties nationwide

#7. Hardeman County

– Monthly mortgage payment in 2020: $358 (6.5% less than 2019)
– Monthly mortgage payment in 2019: $383
– Median home value in 2020: $96,600
– Ranked #630 out of 3,120 counties nationwide

#6. Carroll County

– Monthly mortgage payment in 2020: $350 (9.6% less than 2019)
– Monthly mortgage payment in 2019: $387
– Median home value in 2020: $94,600
– Ranked #587 out of 3,120 counties nationwide

#5. Perry County

– Monthly mortgage payment in 2020: $349 (5.9% less than 2019)
– Monthly mortgage payment in 2019: $371
– Median home value in 2020: $94,300
– Ranked #578 out of 3,120 counties nationwide

#4. Grundy County

– Monthly mortgage payment in 2020: $346 (6.5% less than 2019)
– Monthly mortgage payment in 2019: $370
– Median home value in 2020: $93,400
– Ranked #552 out of 3,120 counties nationwide

#3. Benton County

– Monthly mortgage payment in 2020: $339 (11.3% less than 2019)
– Monthly mortgage payment in 2019: $382
– Median home value in 2020: $91,700
– Ranked #500 out of 3,120 counties nationwide

#2. Lauderdale County

– Monthly mortgage payment in 2020: $333 (11.0% less than 2019)
– Monthly mortgage payment in 2019: $374
– Median home value in 2020: $90,100
– Ranked #453 out of 3,120 counties nationwide

#1. Lake County

– Monthly mortgage payment in 2020: $322 (2.7% less than 2019)
– Monthly mortgage payment in 2019: $331
– Median home value in 2020: $87,100
– Ranked #388 out of 3,120 counties nationwide