Study: Most affordable housing in Middle Valley and Lakeview
CHATTANOOGA (WDEF) – A personal finance tech company has been crunching numbers to figure out the communities with the most affordable housing in the country.
And both their Tennessee and Georgia lists found neighborhoods in the area around Chattanooga.
“There’s a lot more to home affordability than just the listing price on a home.”
SmartAsset created a study by analyzing property tax, insurance costs and income numbers for the areas.
Most of the Top Ten Affordable Housing communities in Tennessee come in the west.. the suburbs around Memphis.
The only East Tennessee community is Middle Valley, which ranks 10th.
Their property tax and insurance is over the state average, but home prices are more than $500 below.
But the company found another hidden gem tucked away in northwest Georgia.
The third most affordable town in the state is Lakeview in Catoosa County on the line with Tennessee.
Their home closing costs are $330 below the state average.
You can see more on the SmartAsset report, here.