While the relative affordability of local real estate is one of Chattanooga's top draws, the area also offers a world of options if you've got a little something to spend. For a little less than $500,000 to a smidge more than $1 million, you can land anywhere from swanky riverfront digs to a bucolic mountaintop farm to a historic home perched on Missionary Ridge.
"There's a broad selection in this price range," said real estate agent Jay Robinson, whose team specializes in high-end homes. "Outside of Chattanooga in the county, buyers can find homes that range in the $100- $150 per square foot range. In downtown, North Chattanooga or Lookout Mountain, that price range starts at $175 -$200 per square foot and goes up."
The median home price in the Chattanooga region was $197,700 in the first quarter of 2020, according to the National Association of Realtors. That's about 30% below the U.S. average of $274,600. These homes sure don't show up in that range, but they offer the kind of wide open spaces people are looking for more and more these days, Robinson said.
"Our market is still mostly local driven, however, we are seeing more activity among those moving into the area from outside of Chattanooga," he said. "The lessons learned are that people want bigger homes with dual home offices and lots of amenities, just in case they have to go back into quarantine."
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