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Old 02-12-2013, 12:45 PM
 
6,385 posts, read 10,372,755 times
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Quote:
Originally Posted by danielj72 View Post



I looked up Farragut home prices to make sure I was not mistaken, but found them to be very very high IMO. The average listing is 300k plus, some homes are in the millions. The very cheapest homes are 250k, and to someone like me that is unreal. Only people bringing in 150k a year minimum could possibly afford to live out there, and that is far above the average income for east Tennessee.
No, not really. The median household income for Farragut is about $93,000, which is high...but obviously doesn't suggest a "minimum" of $150,000. There are only two towns in Tennessee where the median household income is north of $150,000...Forest Hills ($160,000) and Belle Meade ($235,000). Forest Hills has an average home price of around $640,000, and Belle Meade north of $1,000,000.

Farragut is certainly a well-to-do area in the Knoxville metro...but there are several zones where the median household income is $65-75,000. I would guess the "minimum" to live out there would be $50-60,000, depending on location.
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Old 02-12-2013, 01:03 PM
 
Location: Somewhere below Mason/Dixon
5,847 posts, read 6,926,812 times
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Quote:
Originally Posted by nashvols View Post
No, not really. The median household income for Farragut is about $93,000, which is high...but obviously doesn't suggest a "minimum" of $150,000. There are only two towns in Tennessee where the median household income is north of $150,000...Forest Hills ($160,000) and Belle Meade ($235,000). Forest Hills has an average home price of around $640,000, and Belle Meade north of $1,000,000.

Farragut is certainly a well-to-do area in the Knoxville metro...but there are several zones where the median household income is $65-75,000. I would guess the "minimum" to live out there would be $50-60,000, depending on location.

Seems real tough to make a payment on a 250k-300k house on 65-75k but maybe they budget very well. Lenoir City is close to that area and the home values are alot cheaper, seems like that might be a good area for the OP to look.
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Old 02-12-2013, 01:18 PM
 
Location: Knoxville, Tennessee
22,534 posts, read 46,092,033 times
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I work with a guy that is in his mid 30s. His wife stays home with their two kids. He owns a home in Farragut. We make a decent salary but it is NOT $90,000 a year. The truth is there are homes in Farragut that are not McMansions and are not sold for $250,000 and up. I know a lot of people that live in Farragut that live in modest, affordable homes. Personally, I think there are far more expensive homes in Sequoyah and the Westland area.
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Old 02-12-2013, 01:53 PM
 
Location: Somewhere below Mason/Dixon
5,847 posts, read 6,926,812 times
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Im sure there is a segment of the population in Farragut that has lived there for years, bought in to the area years before the prices inflated there. When I did my real estate search however it seems that today you are looking at a large sum of money to buy a house there now. Older residents who have been there may also explain the median income being lower there too, as with most affluent areas there are always those who live there that were there before its gentrification really got going. Maybe Im wrong about this, but I just dont see any affordable homes listed in Farragut at this time. There are some in the general west Knox area, some in Lenoir city that are more middle class but Farragut seems really high to me. Even more modest looking homes seem to go for a premium there, it is after all a very sought after area to live in.
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Old 02-12-2013, 03:01 PM
 
Location: Soddy Daisy, TN
233 posts, read 463,384 times
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Quote:
Originally Posted by hiknapster View Post
I work with a guy that is in his mid 30s. His wife stays home with their two kids. He owns a home in Farragut. We make a decent salary but it is NOT $90,000 a year. The truth is there are homes in Farragut that are not McMansions and are not sold for $250,000 and up. I know a lot of people that live in Farragut that live in modest, affordable homes. Personally, I think there are far more expensive homes in Sequoyah and the Westland area.
Well he might be in debt up to his eyeballs as well. But keep in mind, OP is talking about an area with a median income of $31,000 and an average home value of $87,000. You can't remotely compare that to an area like Farragut. If the OP was living on say, Signal Mountain, where the median income is $73,000 and the median house value was $275,000, I seriously doubt he'd be making the same complaints. I highly doubt there is a super-nice neighborhood in Knoxville that has the same medians as Rossville.
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Old 02-12-2013, 04:08 PM
 
Location: Knoxville, Tennessee
22,534 posts, read 46,092,033 times
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sigh.

There are plenty of homes that are much less for sale right now.

Map Search

I agree with keithps, though. We are off on a tangent and I don't think the parameters will fit the OP.
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Old 02-12-2013, 06:42 PM
 
Location: chattanooga
352 posts, read 700,436 times
Reputation: 281
Oops....Rossvegas...sorry u wound up there...not the best place..not allof it is horrible...but it is like the ghetto of Georgia. The city doesnt act like it knows its a city. You are right next to Chattanooga..15 minutes anywhere from rossville...so just do some googling and street views for knoxville.
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Old 02-13-2013, 08:53 PM
 
10 posts, read 17,808 times
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Thanks everyone! We plan to take a trip up to Knoxville soon to check it out.
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Old 03-01-2013, 07:33 PM
 
Location: So FL
152 posts, read 189,087 times
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Hi, new to the site. I've read every post here because we're moving out of FL in 3 years when our kids grad. Been to Chatt twice since 2011, great down town and Ocoee was a blast. Working age, and have friends in Ooltewah who are very happy there. I've been to the Y where my friend works out. Very nice. This is a big change from "crazy" south FL.
Family also has property outside of Knoxville and tells us Knox is great also! We've never visited Knox. Our youngest may go to UT or UTC and would like to get feeback on both schools. We know that UT has 30K students and UTC nice, smaller but commuter school. Not sure our about that aspect of it. Would like to live in a nice neighborhood not secluded but not Zero lot line as in most of Fla! Hear a lot about Cleveland, TN if any can say more. And, Cleveland is only a couple of exits from VW plant wheremy husband may be working. I would appreciate the Pros and Cons or reasons to live in either Chatt or Knox. Also, hear a lot about Asheville, NC. But I think much colder winter and icy roads.
If anyone can speak of Asheville. I think it's an artsy area? Thank you very much! It takes a lot of thought and planning to move out of state.
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Old 03-05-2013, 11:18 PM
 
10 posts, read 17,808 times
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I am going to give perfect examples of what I originally was talking about when I wrote this. I turn down the road to go to the place we rent and I see a burned down house that is just sitting there for God knows how long. Trash everywhere in almost every yard. Old cars with blankets on the windows LOL...mildewed children's toys thrown about, paper, cans, empty food boxes just laying in yards. It is unbelievable. I am from Jacksonville, FL and I never saw stuff this bad there. It is like people don't care at all about their property. It baffles me. What is the most surprising though is the number of houses that look like this and I know people live in them. I could understand 1 house on the street cause the owner just doesn't care but the majority of houses on one street??? I find that odd. Anyway...perhaps Rossville was not the best choice for us LOL...I have driven through the city and it is just as Blue502 said....the city either doesn't know it's a city or the officials just don't give a crap!!! The sad thing is that there is so much natural beauty here...until you turn into your neighborhood!!!
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