With a 70k income, homeownership in Tennessee might be more challenging, especially in Nashville. Financial advisors recommend spending about 3 to 4 times your annual income on a home, setting your budget between $210,000 and $280,000.

However, the median home price in Nashville is approximately $450,000, which exceeds your maximum affordability range. This suggests that the major market may be less accessible at your current income level.

That said, more affordable options may be found in other areas such as Memphis and Knoxville, where prices average around $300,000. Tennessee has a property tax rate of 0.66%, or roughly $2,970 per year on an average home. Considering a cost of living below the national average, you might need to explore alternative locations or financing strategies to meet your homeownership goals.