Tennessee Houses With Land for Sale - 2,682 Properties (2024)

FAQs

How much does an acre of land cost in Tennessee? ›

Statewide, an average acre of Tennessee land is worth $14,400, but it's all about location. The average sales amount for a 251,911 square foot lot in one of Unicoi County's prime locations is $59,408, according to FindAnyAnswer.com. Tennessee's $14,400 per acre average cost compares to $12,100 in the lower 48 states.

Over the past few decades, buying Tennessee land has proven to be a lucrative investment. This state is a hub for agriculture, and it's home to dozens of high-profile companies and industries. More people are attracted to Tennessee for its business opportunities, which has increased the value of local land.

Tennessee doesn't have a state income tax. And generally, it has lower property taxes and a lower cost of living than other states, which has attracted everyone from working aged people to retirees, especially those from more expensive cities and coastal areas.

While there may be fluctuations in certain areas, overall, Tennessee offers a reliable investment environment for real estate buyers. Investment Opportunities: Tennessee's growing population and strong economy make it an attractive destination for real estate investors.

$27,200 is the 25th percentile. Salaries below this are outliers. $37,200 is the 75th percentile.

To qualify for a land loan in Tennessee, lenders typically require a minimum credit score of 720 and down payments ranging from 10% to 50%, depending on the type of land.

In most cases, building a house in Tennessee is cheaper if you own the land.

Editor's Note: For purposes of this article, we will discuss taxes on real property in Tennessee. Property tax is a type of taxation that requires owners of land and buildings to pay an amount of money based on the value of their real property, or land and buildings.

Con: It might take time to adapt to the humid climate

The climate in Tennessee is humid and subtropical, which can be uncomfortable for some residents. The summers are hot and muggy, and the winters are mild with occasional snow. The weather is pleasant in spring and fall, but you can still expect some humidity.

Is it cheaper to live in Tennessee or Florida? ›

Tennessee has a lower cost of living than Florida. Depending on what city you move from and to, you can expect to pay less for housing, food and everyday essentials. According to My Life Elsewhere, Tennessee is around 3.1% cheaper than Florida. The most significant cost-saving advantage is housing.

$326,084. The average Tennessee home value is $326,084, up 3.9% over the past year and goes to pending in around 19 days.

In 2022, the average cost to build a 1500-square-foot home in Tennessee is about $168,175, which is about $112 per square foot. Even in Nashville, one of Tennessee's most bustling cities, you'll find yourself spending about $119 per square foot to build your home.

Real estate taxes vary by municipality across Tennessee, with an average tax rate of 0.67 percent of a home's assessed value in 2021, according to the Tax Foundation. Tennessee ranks 37th in the country for average property tax, with No. 1 being the highest rate.

In June 2024, 19.3% of homes in Tennessee sold above list price, down 4.8 points year. There were only 28.3% of homes that had price drops, up from 24.0% of homes in June last year. There was a 98.0% sale-to-list price, down 0.47 points year over year. … Homes that sold above list price likely received multiple offers.

According to Wisevoter, Arizona is the cheapest state in the United States to buy land. As of 2023, Arizona's median price per acre is only $4,164.

The average cost to build a house in Tennessee is $130.97 per square foot. To put that in perspective, the average price of a 2,000-square-foot home in Tennessee is $261,940.

Overview of Tennessee Taxes

The average effective property tax rate in Tennessee is 0.56%.

The average price of land and ranches for sale here is $490,286. You can also search LandWatch to find local real estate agents who specialize in land and rural retreats in the Eastern region of Tennessee.