16 Best Places to Live in Tennessee for Retirees

Published on April 25, 2023 at 3:45 pm by Aima Zaheer in Business, Lists, News

In this article, we will take a look at the 16 best places to live in Tennessee for retirees. If you want to see more places in this selection, go to the 5 Best Places to Live in Tennessee for Retirees.

According to the Missouri Economic Research and Information Center (MERIC), Tennessee is the tenth most economical state as per the 2022 cost of living index. Overall, the cost of living in the state is 9.8% lower than the national average. The Volunteer State is the ninth cheapest for groceries, the fifteenth most economical for housing, and the third cheapest for transportation expenses. Tennessee is one of the nine states in the US that does not have a state income tax. However, the state has a 7% state sales tax and an additional sales tax of up to 2.75%. The state has a property tax of only 0.67% of the housing value. The property taxes are lower compared to 36 other states in the US.

Tennessee’s low cost of living has contributed towards attracting both individuals and businesses to the state. According to the US Bureau of Economic Analysis, Tennessee’s economy experienced rapid growth in 2022, ranking second to Idaho. The state’s economic output reached a record $368.6 million, almost 2.5 times the national average. Tennessee’s population also surpassed the national average, contributing to the state’s overall economic success. Tennessee has seen significant investment in the automotive industry, with companies like Ford Motor Co (NYSE:F), SK Innovation Co Ltd (KRX:096770), LG Chem Ltd (KRX:051910), and General Motors Company (NYSE:GM) setting up production facilities in the state. In 2021, Ford Motor Co (NYSE:F) and SK Innovation Co Ltd (KRX:096770) revealed plans to invest a record-breaking $5.6 billion in a manufacturing facility for electric vehicles and batteries close to Stanton in West Tennessee. In addition, LG Chem announced its plans to establish a battery plant worth $3.2 billion in Clarksville, 14 months after the joint announcement of LG Chem and GM’s plan to construct the $2.3 billion Ultium Cells battery plant in Spring Hill. These three facilities are expected to generate a total of 7,660 jobs, which will significantly strengthen Tennessee’s economy. The state’s economic growth has also resulted in improvements in healthcare, infrastructure, and public services, making it an even more attractive choice for retirees seeking a high standard of living.

In addition to a thriving economy, Tennessee is also known for its scenic beauty. The state is home to some of the most beautiful natural areas in the country, including the Great Smoky Mountains, which offer stunning scenery and outdoor activities. The state is also known for its vibrant music scene, with Nashville often referred to as the “Music City.” The state also has numerous historical sites and museums to explore. Overall, Tennessee has a generally mild climate, which can be ideal for retirees looking to avoid extreme weather conditions.

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Our Methodology

We used a consensus opinion-based rankings approach and researched over 18 reliable sources, such as Niche, Retirable, and World Population Review, to determine the best places to live in Tennessee for retirees. We assigned total scores to each place based on seven factors, namely the overall cost of living, the percentage of the population above 60 years of age, crime and safety, healthcare, transportation, dedicated activities for retirees, and the median home value. The maximum score a location could secure was 70. We have ranked the 16 best places to live in Tennessee for retirees in ascending order of their total score.

Best Places to Live in Tennessee for Retirees

16. Kingston Springs

Total Score: 13

Median Home Value: $519,800

Percentage of Population Above 60: 26%

Kingston Springs is located in the rolling hills of Middle Tennessee and is surrounded by natural beauty. It is close to the Harpeth River, which offers opportunities for numerous outdoor activities. There are also several state parks in the area, including Montgomery Bell State Park and Harpeth River State Park. Kingston Springs is a small town with a population of around 2,800. It has a charming downtown area with local shops and restaurants, as well as a community centre and library.

15. Collierville

Total Score: 14

Median Home Value: $587,500

Percentage of Population Above 60: 22%

Collierville has consistently been ranked as one of the best places to live in Tennessee by multiple sources due to its high quality of life. The town has a low crime rate, excellent schools, and a thriving economy. It also has a historic downtown area with local shops and restaurants. The town is home to several top-notch healthcare facilities, including Baptist Memorial Hospital-Collierville and Saint Francis Hospital-Collierville. This can be an important factor for retirees who may need access to medical care.

14. Hendersonville

Total Score: 17

Median Home Value: $519,900

Percentage of Population Above 60: 22%

Hendersonville has a relatively low cost of living compared to other cities in Tennessee, which can help retirees stretch their retirement income further. The city has a moderate climate with four distinct seasons. Additionally, Hendersonville has a moderate climate characterized by four distinct seasons. The winters are relatively mild, while the summers are warm, making it an attractive location for retirees who prefer a temperate climate. Furthermore, Hendersonville is situated on the shores of Old Hickory Lake, which adds to its scenic beauty and charm.

13. Johnson City

Total Score: 20

Median Home Value: $279,900

Percentage of Population Above 60: 21%

Johnson City is located in the foothills of the Appalachian Mountains and is home to the Johnson City Medical Center, a top-ranked hospital in the region. Johnson City is located just a short drive from Asheville, North Carolina, which offers a variety of cultural and entertainment options. Retirees can enjoy the best of both worlds, living in a quieter suburban area while still having access to the amenities of a larger city.

12. Tellico Village

Total Score: 21

Median Home Value: $562,500

Percentage of Population Above 60: 86%

Tellico Village is located in the foothills of the Great Smoky Mountains, which offers stunning views and a wealth of natural beauty. The area is known for its rolling hills, lush forests, and numerous lakes, making it a popular destination for outdoor enthusiasts. It is a popular retirement community that offers a wide range of amenities and activities to keep inhabitants active and engaged. The village has three championship golf courses, a marina, a wellness centre, and numerous social clubs and organizations.

11. Kingsport

Total Score: 22

Median Home Value: $275,000

Percentage of Population Above 60: 32%

Kingsport is home to several high-quality healthcare facilities, including the Holston Valley Medical Center, which is part of the Ballad Health system. The city has a rich cultural scene with several museums, art galleries, and theatres. The city also hosts several festivals and events throughout the year, such as the Kingsport Fun Fest, which is a week-long summer celebration.

10. Pigeon Forge

Total Score: 23

Median Home Value: $655,000

Percentage of Population Above 60: 29%

Pigeon Forge is a city located in Sevier County, Tennessee, in the eastern part of the state. The city has a population of around 6,000, making it a close-knit community, which can provide a sense of belonging and social support for retirees looking to make new friends. Pigeon Forge has a thriving arts and crafts community, including pottery, painting, and woodworking, which can be taken as a hobby by retired people.

9. Knoxville

Total Score: 24

Median Home Value: $389,900

Percentage of Population Above 60: 20%

Knoxville is known for its low cost of living and affordable housing options, which can be especially attractive for retirees on a fixed income. The city has several excellent healthcare facilities, including the University of Tennessee Medical Center. Knoxville has a rich history and a vibrant arts and culture scene, with museums, galleries, theatres, and music venues. The city is also home to the University of Tennessee, which offers many cultural and educational opportunities.

8. Paris

Total Score: 25

Median Home Value: $224,900

Percentage of Population Above 60: 25%

Paris is a small town located in the northwest part of the state. It has a population of around 10,000 and is known for its historic downtown area, proximity to Kentucky Lake, and friendly community. The area is known for its natural beauty, with rolling hills and forests. The town is home to Henry County Medical Center, which provides a range of medical facilities to residents.

7. Brentwood

Total Score: 26

Median Home Value: $1.1 million

Percentage of Population Above 60: 22%

Brentwood is a small suburban city located just south of Nashville. It has a population of around 43,000 and is known for its affluent neighborhoods, excellent schools, and abundance of parks and green spaces. Williamson Medical Center is located in Brentwood and offers a range of medical services to the masses. The city is home to several golf courses, including the prestigious Brentwood Country Club, and the nearby Radnor Lake State Park offers hiking and wildlife viewing opportunities.

6. Murfreesboro

Total Score: 30

Median Home Value: $429,900

Percentage of Population Above 60: 16%

Murfreesboro, Tennessee, is a mid-sized city located about 30 miles southeast of Nashville. It has a population of around 150,000 and is known for its rich history, vibrant arts and culture scene, and beautiful natural surroundings. Murfreesboro has a strong sense of community, with many opportunities for volunteering and getting involved in local organizations. St. Thomas Rutherford Hospital is located in Murfreesboro and offers excellent healthcare services.

Tennessee has become an attractive place for individuals and businesses alike due to its low cost of living and well-developed infrastructure. Companies like Ford Motor Co (NYSE:F), SK Innovation Co Ltd (KRX:096770), LG Chem Ltd (KRX:051910), and General Motors Company (NYSE:GM) have also made substantial investments in the state in the recent past to take advantage of its flourishing economy.

Click to continue reading and see the 5 Best Places to Live in Tennessee for Retirees.