How Much Does It Cost To Live In Gatlinburg Tennessee?
Gatlinburg is a charming little mountain resort town in Sevier County, Tennessee. According to the 2021 census, Gatlinburg has a population of about 3,800 souls. Yet, we can not help but notice a slight decline in its residents over the years (in 2016 being 4,200). On 10.41 square miles, the city offers plenty of unique and engaging activities and a highly newcomer-friendly community. In short, it indeed has got all the features to be called an excellent place to stay.
Suppose you’re interested in moving to Gatlinburg. Then contact our local real estate agents in Gatlinburg TN! They will set you up with an affordable house or inexpensive apartment to rent!
The housing market is thriving in Gatlinburg! If you wish to sell your house, get in touch with realtors in Gatlinburg, TN! They will expertly represent your best interests and maximize your revenue!
The local economy in Gatlinburg, TN
While in 2021, the American average unemployment rate is six percent, the Gatlinburg statistics are promising, at only 5.1 percent. At the same time, local job growth is on the rise, increasing by two percent. The median income in Gatlinburg, TN, is approximately $36,000 in 2021.
With so many essential things to see in Gatlinburg, first-class resorts, and remarkable camping opportunities, tourism in the city soars. No wonder that the top employers in the area center around meeting travelers’ pleasure. Dollywood, Wyndham Destinations, and Bluegreen Vacations are significant tourism-related companies.
The cost of living in Gatlinburg, Tennessee
In 2021, prices in Gatlinburg increased by 1.3 percent compared to last year’s. Food, housing, and transportation are the main areas that inflation hit the hardest. Nevertheless, the cost of living in Gatlinburg, TN, is 14 percent lower than in the rest of the United States. Gatlinburg is more cost-effective than the rest of the country in all relevant aspects. Energy is 16.7 percent less expensive, food is 17.4 percent, and healthcare by 28.5 percent than the US average.
Statistics prove that Gatlinburg steals major US cities’ thunder in terms of cost of living. Compared to San Francisco, CA, Gatlinburg is less expensive by 97 percent. While compared to New York, life in Gatlinburg is more affordable by approximately 91.5 percent.
It all adds up to a 69/100 percent livability score, which is above average when considering all American cities. Residents in Gatlinburg, Tennessee, value the reliable public transportation system, safety at night, family-friendly neighborhoods, and the overall condition of public places and streets.
The real estate market in Gatlinburg, TN
Lately, the housing market in Gatlinburg, TN, experienced a genuine boom in prices. As of November 2021, property prices in Gatlinburg increased by about 61 percent compared to 2020. Thus, the median sale price reached a stunning $617,000. Homes stay on the market on average 73 days.
Conclusion
Due to its affordable cost of living and Gatlinburg’s many attractions, the city turned into a trendy tourist hotspot and popular relocation destination. Why don’t you check it out yourself?
Popular Real Estate Questions
Popular Real Estate Glossary Terms
Broadly speaking, a commission is a remuneration a person receives after acting on someone else’s behalf.In the real estate world, you’ll usually hear the term “sales ...
Legal claim with enough basis in fact to have a lawsuit. ...
Local governmental ordinance breaking down the country into districts that are restricted on how private property is to be constructed and used. It applies to the land and buildings. The ...
Lender has an equity interest in the property that is the subject of the loan. The lender shares in the increase in market price of the property as well as any net income generated. ...
Right to use property in the absence of forcible eviction by another. Some state laws allow squatter's rights to convert to bona-fide title over time. For example, if it cannot be ...
Claim by a real estate broker that his or her actions were the principal cause of the completion of a property sale between two parties. A successful procuring cause claim would entitle a ...
Founded in 1908 and located in Washington, DC, BOMA has 7,500 members and 10 regional groups and 6 state groups. It consists of managers, owners, investors, and developers of commercial ...
Vendee refers to a person to whom something is sold. The meaning of vendee is a buyer of goods and services. A more common term for vendee is a purchaser. While a vendor is a seller, the ...
A sash window having two vertically moving sashes respectively offset by sash weights. Each sash closes a different part of the window. ...
Have a question or comment?
We're here to help.