List of prices in Nashville, Tennessee (United States) for food, housing, transportation, going out, and more on Jan 2021. Tennessee is a fairly cheap place to live, compared to the rest of the country. Spring Hill cost of living is 112.3 Listed above are the most affordable places to live in Tennessee with a population of more than 5,000 people. The average annual pay in Memphis is $53,289.00, which is $5,886.00 higher than the salary average in Tennessee but lower than the U.S. average yearly wages by $332.00. In Tennessee there are 149 independent living communities. Cost of living refers to how much youll pay for essentials such as rent and groceries, along with extras such as dining out and entertainment. Everyone and everything falls in place with this neighborhood. The cost of living in Memphis, Tennessee (TN) is higher than the average cost of living in the state of Tennessee but lower than the nationwide city average. The cost of living in Tennessee is approximately 20% lower throughout the state then it is across the nation. The least expensive areas were the Midwest and Southern states. I would definitely recommend this neighborhood to anyone interested or planning on moving to Nashville. There is a lot to like about Oklahoma when it comes to low cost of living. The percentage difference is always compared to 100; therefore, if the cost of living index is 90, it is 10% below the location it is being compared to. Cost of Living in Clarksville, Tennessee: Cost of Living in Lynchburg, Tennessee: Cost of Living in Scottsville, Kentucky: Cost of Living in Lawrenceburg, Tennessee: Cost of Living in Bowling Green, Kentucky: Cost of Living in Cookeville, Tennessee . Cost of Living. Tennessee: National: Cost of living: 89: 89: 100: Goods & Services: 97: 93: 100: Groceries: 98: 95: 100: Health care: 92: 89: 100: Housing: 75: 80: 100: Transportation: 91: 88: 100: Utilities: 93: 96: 100: Key findings. The average monthly cost of assisted living care in Tennessee is $3,900 per month, which is $151 below the national average. So much so, builders are struggling to keep up with the increasing demand.The U.S. Census suggests the population for the entire state is just shy of 7 million people and is positioned to grow rapidly over the next decade. The cost at this community starts at $2,586, while the average cost for a senior living community in Signal Mountain, TN is $3,018. The cost of living is especially important when switching jobs. Honestly, I personally wouldn't change anything. The cost of living index is 86.5, compared to the national average of 100. The overall cost of living index for the Sooner State as a whole is 86.8, and with ample land for development, its housing index registers at 70.1the the lowest score in the country. The median annual income in Nashville is $63,939. Calculate. Leave a comment: Your name: Sign In. Senior living costs in nearby North Carolina are similar at $4,000 per month, and costs in neighboring Kentucky ($3,497), Mississippi ($3,524) and Alabama ($3,250) are lower. That's why our cost of living calculator takes local food prices into account. This is higher than the national average which is $1,729 per month. 5 Alexian Village Of Tennessee is a board and care home located in Signal Mountain, TN that offers a quaint environment. The consumer price index (CPI) of 233 in Tennessee is 4.90% lower than the U.S. city average CPI of 245. Oklahoma . Standard of living refers to how many hours you need to work to cover those expenses and your overall quality of life. Cost of living in California (US) compared to Tennessee (US). Tennessee has a livable wage of $46,785. March 2019 cost of living index in Anderson County: 86.0 (less than average, U.S. average is 100) Industries providing employment: Professional, scientific, management, administrative, and waste management services (42.5%), Finance, insurance, real estate, and rental and leasing (12.7%). Moving from illinois to Tennessee? Retiring in Tennessee is one of the most affordable options in the country! Your email address (optional): Your comment (no HTML): 0 Comments so far . Most cities exempt grocery items from sales taxes but a few do not. The Cost of Assisted Living in Tennessee. Taxpayers can deduct contributions to a traditional IRA if they meet certain conditions. ; No income taxes: TN is one of only nine states that does not have a personal income tax.However, the state does tax interest and dividends at a rate of 6% through the Hall Tax. To generate detailed cost of living reports suitable for creating cost comparisons for relocating employees customized to spending patterns, please consult ERI's Relocation Assessor. With a cost of living index below 90, fairly affordable home prices, and no shortage of summer activities, this state is ideal for retirement. Missouri had the 5th lowest cost of living in the United States for the 3rd quarter in 2020. The Tennessee real estate market is booming! A cost of living index above 100 means Spring Hill, Tennessee is more expensive. Cost of living data are derived from actual housing sales data and extensive research using authoritative online databases for consumables, fuel costs, tax rates, etc. Living in Tennessee is less expensive than it is on average across the U.S. as a whole. Read this article to get insight into the pros and cons, cultural shifts, job market and more to decide if a move to Tennessee from Illinois is for you. Cost of living in Tennessee (US) compared to California (US). We provide several metrics to compare the cost of living including cost of groceries, transportation, and more. To calculate the most affordable cities in Tennessee, the cost of living index for each city was calculated, then compared to the national average of 100. You may know that housing and groceries play a role in cost of living, but you might not know that insurance also has a part. For the past 15 quarters, Missouri has been in the top 10 for lowest cost of living in the nation. Our cost of living indices are based on a US average of 100. Tennessee offers a competitive cost of living experience. (The Center Square) Residents of Williamson County need to make $3,737 every month to maintain a modest standard of living, making it the most expensive place in Tennessee to live, according to an analysis from 24/7 Wall St. The cost of living here may be more than the surrounding areas but it's worth it. These are estimated prices. The in-state graduate tuition and fees at The University of Tennessee-Knoxville are around the average amount 2020 Tuition, Fees, and Living Cost Tables and Charts. TAXES. FEES. The cost of living in Tennessee is lower than the national average. In recent years, Tennessee has received an influx of people relocating from California, Florida, New York, New Jersey and the New England States for the low cost of living, and the booming healthcare and automobile industries. Check out the numbers for yourself. A prospective job may be willing to increase your salary by $10,000, but will that extra money go far in a new area? We can help you find the best matches for your needs. The cost of living index provides you with the percentage difference in the cost of living between one location and another. Even basics like a pound of pasta or a bag of apples can vary in cost from place to place. Compare cost of living in Mount Juliet with factors like salaries, housing expenses, groceries, utilities and more. Cost-of-Living Adjustments. For a typical $300,000 home, your property tax would be a little more than $1,000 per year. Or is it better to stay put with lower pay in an area with a lower cost of living? In general, the most expensive areas to live were Hawaii, Alaska, the Northeast, and the West Coast. By the time you factor those in, the average cost of living takes up more than 75% of what most people are bringing home. That's the kind of thing that can make a big difference to your bottom line. Mount Juliet, Tennessees cost of living is 18% lower than the national average. These cities have the lowest cost of living in all of Tennessee. I can't complain. Cost of Living Calculator. You'll only be minutes from downtown with is pretty cool. The income ranges for determining eligibility to make deductible contributions to traditional IRAs, to contribute to Roth IRAs and to claim the Savers Credit all increased for 2021. Almost everything about living here involves lower prices, including your groceries, consumer goods, and utilities. We provide several metrics to compare the cost of living including cost of groceries, transportation, and more. No state income taxes on wages; No personal property taxes ; Real estate property taxes: Home prices generally range from $200,000 to $600,000 depending on size, views and features. One can expect to pay about $854 per month on average for a two-bedroom apartment with some upward variation in cities such as Chattanooga and Knoxville. Use the Cost of Living Calculator and compare our Retire Tennessee counties to your community. Tennessee is home to urban places and wide-open spaces, with lots of scenic room to roam. This is mostly due to the majority of the state being in rural areas and the lack of a state income tax. Metropolitan Nashville is one of the fastest-growing areas in the country due in part to these factors. Kiplinger named the state's capital, Oklahoma City, one of America's most affordable cities.. Tennessee's housing index is 72.5, the fifth-lowest in the country. Next tables and charts illustrate the 2020 tuition, fees, books & supplies, and living costs in detail. Provo was listed with a median income of $66,200, and a cost of living well below the national average. Whatever your interests and hobbies, Tennessee provides the backdrop for the good life. The average cost of independent living in Tennessee is $1,972 per month. An amount below 100 means Spring Hill is cheaper than the US average. In this case, when comparing the cost of living index of states, 100 represents the U.S. average. 2. The sales tax is 7.00%. Ogden had a median income of $70,600 with a similarly good cost of living outlook. State of Tennessee salaries average $47,403.00, indicating a pay rate that is lower than the U.S. average annual salary by $6,218.00. Pros and Cons of Living in Tennessee Pros: Cost of living: With rates 1525% below the national average, Tennessee offers extremely competitive prices on housing, utilities, groceries, and goods. In the state's largest city, Salt Lake City, median home sales prices in Salt Lake City were at about $135,000, with median household income at about $44,000. Tennessee has the sixth-lowest cost of living in the United States. Compare the Cost of Living in Nashville with any other city in the world. Of 245 lower pay in an area with a similarly good cost living. 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