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Nicole Pierce relocated to Tennessee almost a decade ago. She is a homeowner and dog mom and works downtown in learning & communications.

I was born in 1990, don’t live with my parents, have a savings account with a little extra cash – and I was recently called a “rich millennial” by someone from out of town. My first reaction was laughter since my current salary is just above the national average, but then I was intrigued. What incited that statement?

After some thought, and a little more conversation, I realized the main differentiator between my budget and my millennial friends’ similar, but more slim budgets – is Chattanooga. I would never brand myself a ‘rich millennial,’ but I do realize that I struggle less than some of my peers living a very similar lifestyle. So, what is it about this city that allows me to live a life of comfort rather than concern?

💸The opportunity for affordable housing investments

When I moved back to Chattanooga, I realized I could buy a house and pay a mortgage that costs less than rent for a similar size apartment. I found a perfect starter home in an up-and-coming neighborhood and about a 10-minute drive to the heart of downtown. It is everything a millennial could want – cozy, low maintenance, affordable and convenient.

East Ridge, Red Bank and Soddy-Daisy are all areas in and around Chattanooga with affordable housing options. Don’t have a down payment saved? There are many options for no or low down payment purchases.

💸 No income tax

Many people do not realize that Tennessee has no personal income tax on wages and salaries. Drive 15 minutes south to Georgia and you could be giving up as much as about 6 percent of your income. Stay inside Tennessee state borders and save that cash.

💸 An abundance of FREE entertainment and activities

Whether you like live music, exploring the outdoors or just relaxing with your friends (two or four-legged), there is always something to do for free in Chattanooga. Some of my favorites include the Nightfall concert series, walking the Walnut Street bridge and the numerous free dog parks in the area. I rarely spend money on entertainment, which pads my budget and allows me to save more pennies. Check out more of my favorite free and low-cost things to do in the city.

○ Chattanooga market

○ Visiting/picnicking at signal point (Bonus: this is dog-friendly)

○ Hiking one of the many trails in the area

💸 Availability of chic resale and thrift stores

Chattanooga is packed with unique, high-quality resale stores. I furnished most of my house with slightly used furniture and décor from many of the area thrift shops and I rarely buy new clothes. Shop secondhand, be sustainable and put your extra cash in a down payment savings account or a travel fund. Check out some of my favorites, based on what you are looking for.

○ Clothes on a budget: Style Encore, Anna’s Attic
○ Furniture: Habitat for Humanity Restore, I27 Yard Sale
○ Décor and unique finds: A Lot of Treasure, Northside Neighborhood House

💸 Good opportunities for young professionals

Chattanooga claimed the Forbes top spot for job growth with an employment outlook of 34 percent in 2020 and the Chattanooga average salary is in line with the national average, according to PayScale. Downtown and the surrounding area is full of startups, small businesses and large company headquarters that are ready to hire young professionals.

It is clear that location is not the only influencer on lifestyle – spending habits, salary, family size etc. – are also imperative to consider. Chattanooga, however, doesn’t hurt my budget, it makes it a little easier to manage.