Finding Your Own Special Place

The Southern Appalachians are beautiful and majestic. The mild summers, plentiful winter sports, vibrant colors of spring and fall make these mountains a great place to call home. For those searching for a place to retire, relocate, or purchase second homes, the region offers a wealth of wonderful possibilities. 

However, being frugal with our money and finding the right property in the most favorable and affordable location is extremely important, especially when making large investments like home purchases. One of the simplest ways to begin is by studying an area’s cost of living. 

An area’s cost of living is a representative sampling of housing, taxes, utilities, food, transportation, etc. used as an average which people can compare to their current financial situation and standard of living. Cost of living is calculated from a median value of 100. Living costs in the U.S. that are above 100 are less affordable and below 100 more affordable. For example, according to the the World Population Review website, Mississippi is the most affordable state in which to live. Mississippi’s overall cost of living is approximately 86 or 14 percent below the average. In contrast, Hawaii is the most expensive state to call home, with an approximate cost of living of 192 or 92 percent above the average. As you might imagine, your dollar will go further in rural areas than in urban, and the South has some of the lowest costs of living in the nation. Given that, we’re going to focus on several areas in Western North Carolina and Eastern Tennessee.

We can’t begin without mentioning Asheville. With a population just over 90,000, it’s the state’s 12th largest city. It has an eclectic culture, vibrant art and music scene, excellent dining, and much more. It’s no wonder that it has been called the “Paris of the South.” However, costs of living in the city, especially housing costs, can be prohibitive. Brian Cagle of Beverly Hanks & Associates, said, “buyers are looking for properties in the smaller towns around Asheville,” searching for the best of both worlds. Of course, everyone’s choice of location doesn’t depend upon its proximity to Asheville. Cagle said that people are also looking farther west to small towns like Sylva and Robbinsville.

Now we cross the border into East Tennessee. Here, most everyone is familiar with Gatlinburg, Pigeon Forge, and Dollywood, but the Volunteer State has an “ace up its sleeve” so to speak, that has a huge impact on the cost of living. It’s taxes, or rather the lack of them, as Tennessee has no state income tax. Add that to already low property taxes and the appeal of those Tennessee mountains begins to shine. 

Gatlinburg is “the place to fulfill all your dreams,” said Kenny Gays, principal broker at Smoky Mountain Real Estate Corp. “From hiking to shopping to sightseeing, you can do everything here.”

According to Ramay Winchester, from her retiretennessee.org website: “In Tennessee your resources will go further and last longer with our low cost of living and reasonable home values, without any state income tax or pension tax, with steady growth in communities you’ll be proud to call home.”

No matter if it’s Tennessee or North Carolina or any number of other beautiful places, it seems reasonable to say, with a few exceptions, that retirees, people looking to relocate, or those searching for a second home are all basically seeking the same things. They want access to healthcare facilities, a stable economy, ample recreational opportunities—both indoors and out—great dining, cultural events, low taxes, and low crime, among others.

What’s right for you might not work for others, but whether you’re looking for an upscale home, easy access to a dynamic city life, the relaxed pace of a small town, modest retirement living, or your just starting out in a new area, I think we can all agree on one thing: We all want to use our money efficiently. As you can imagine, housing costs have a huge impact on an area’s cost of living. So taking all these factors into consideration, we’ve listed just a sample of the many great areas that would help make your dream of mountain living more affordable. 

North Carolina

Brevard has a population of 7,700. Its housing costs are 6 percent below the national average, with an overall cost of living 7 percent below. Brevard is about 35 miles southeast of Asheville. “There’s an incredible amount of things to do” in and around Brevard, said Clark Lovelace, executive director of the local tourism development authority.

Burnsville has 1,800 residents and is located about 35 miles northeast of Asheville. Housing in Burnsville is 13 percent below the national average and overall cost of living at 12 percent. An ongoing $25 million fiber optic upgrade is making fast and reliable internet access available throughout much of the community.

Waynesville has a population of 10,000. Its housing costs are 40 percent below the national average, with total cost of living 14 percent below. Waynesville is located around 30 miles west of Asheville. Downtown Waynesville’s bustling Main Street is a pedestrian’s dream, with working art studios, fine restaurants, breweries, a coffee roastery, gift shops, a bakery, and more.

Marion is home to 7,800. Housing costs are 44 percent below the national average, with total cost of living 20 percent below. Marion is about 40 miles east of Asheville. Steve Bush, executive director of McDowell Chamber of  Commerce, said Marion has a revitalized downtown, great access to metro areas, and lots of outdoor activities. “The community takes care of each other,” he said.

Sylva has a population of 2,700. Its housing costs are 27 percent below the national average, with total cost of living 15 percent below. Sylva is about 20 miles southwest of Waynesville. Visitors can enjoy more than two dozen waterfalls for one-of-a-kind photo opportunities, or take part in fly fishing in more than 4,600 miles of streams and 1,100 miles of hatchery supported waters.

Tennessee

Johnson City has a population of 66,000. Its housing costs are 36 percent below the national average, with an overall cost of living at 18 percent below. 

Kingsport has 54,000 residents. Housing in Kingsport is 43 percent below the national average, and overall cost of living at 19 percent. Tony Vaughn at RE/MAX Allstars of Kingsport, said, “We have beautiful lakes and surrounding mountains. We’re close to the Appalachian Trail, one hour from snow skiing, and six hours to the beach. Everyone is going to be friendly and helpful.” Kingsport is a place “where neighbors are still neighbors.”

Bristol is home to 27,000. Its housing costs are 49 percent below the national average, and total cost of living 22 percent below. Realtor Melissa Hall, with Berkshire Hathaway HomeServices Jones Property Group, in Bristol, said, “people have genuine, true hospitality here.” A native of Chicago, Hall said she has found her forever home in Bristol.

Elizabethton has a population of 13,500. Housing costs are 52 percent below the national average, with total cost of living 22 percent below. 

Gatlinburg has a population of 4,100. Its housing costs are 25 percent below the national average, with total cost of living 14 percent below.

Some of these places like Sevierville/Gatlinburg and the Asheville metro area may be very well known, but all of the cities and towns mentioned here have their own culture, their own spice and flare. Get in the car and go visit these places. Don’t just drive through and grab a burger. Stop and stay; talk and listen. Get a feel for the culture and the lay of the land as it were. See if you get the right vibe. Do they have what interests you? If not then you’ve got plenty great choices left. From the growing excitement of a vibrant larger city like Johnson City to the small town of Burnsville, nestled in the shadow of Mount Mitchell, you’re sure to find an affordable solution that will work for you and your situation, but one’s thing’s for sure.If you love the mountains, you’ll definitely be home.