Prices have risen 36.15% in the last two years and 160.71% since 2000. *Source: Council for Community and Economic Research (C2ER) Cost of Living Index (COLI), 2017 Annual Averages. This is not an offer to buy or sell any security or interest. The cost of utilities is one of the few indicators where Tennessee is more expensive than the national average. Featured Review: Niche User says I feel really safe where I live. She loves going to school every day! Let me give you a run down. It is nice and quiet and you have plenty of space. 83 Niche users give it an average review of 4.6 stars. Featured Review: Niche User says My experience living in this town has been unforgettable. Just 32 miles southeast of Knoxville, LaFollette, is surrounded by majestic views. Featured Review: Niche User says This is a small, quiet, and safe town with friendly people. When someone is in trouble everyone comes together to help. Job growth has spiked in the past few years with an LG manufacturing plant and a Google data center. The cost of living in Nashville is manageable for many renters. Even if youre not considering a move there right now, visiting these cities and their many amenities just might change your mind. When in doubt, consult a professional Realtor who knows the market. One estimate pegged the salary needed to live comfortably at $70,413. Featured Review: Current Resident says I have lived in this area my entire life. See our Privacy Policy. MISCELLANEOUS GOODS AND SERVICES 95.1. These may be paid by the seller, or out of the listing agents commission. With individual food prices, the most influential factor is where you live. The highly ranked Vanderbilt University estimates its tuition and fees to total$84,412. 2. So although the base state sales tax is 7%, counties impose extra rates that range from 1.5% to 2.75%. An award-winning writer with more than two decades of experience in real estate. #20 Counties with the Lowest Cost of Living in Tennessee. 46 nationally. UpNestis owned by parent companyRealtor.com. Familiarize yourself with the places where students hang out, and take advantage of discounted or bargain prices, you are sure to be able to keep your. Mortgage payments aregenerally higherthan rent in most states. This cost is ranked NO. We also explored access to recreational activities to make sure you have the chance to have fun and stay active in retirement. The major outlier in the state is Knoxville, which boasts prices 16% less than the national median. It is home to Martin Methodist College. If youre ready to get started, just enter your zipcode below! According to the 2021 Cost of Living Index, Tennessee ranks sixth place for lowest cost of living in the United States. The federal minimum wage is $7.25 per hour while Tennessee's state law sets the minimum wage rate at $7.25 per hour in 2023. The UpNest platform allows you to compare multiple agents in your area so you can compare reviews, commission rates, previous sales, and more. Living Wage Calculator - Living Wage Calculation for Tennessee I wouldn't move away from this town for nothing. The only thing about Briarcrest I would change is some classes are not challenging enough. Featured Review: Niche User says I love my home town. A cost of living index above 100 means Jefferson County, Tennessee is more expensive. Take the cost of a dozen eggs. A financial advisor can help you navigate big life changes like a cross-country move, or just help you to meet general financial goals like saving for retirement. For example, if you are a real estate investor selling and buying 10 homes a month, an agent might be willing to work a 50% off deal in exchange for the volume. I love my little town. This is a very small town where everyone knows everyone. #9 Counties with the Lowest Cost of Living in Tennessee. It hosts the annual Middle Tennessee Strawberry Festival.. #12 Counties with the Lowest Cost of Living in Tennessee. According to MITs Living Wage Calculator, a single adult in Tennessee spends an average of $2,990 per year on food. We do not hear many crime reports happening in the area where I live. Read 4 reviews. While youll find million-dollar mansions near Nashville and elsewhere in the state median housing prices are quite affordable. Read 24 reviews. To help prospective homebuyers prepare for life in Tennessee, weve looked at seven major cost-of-living indicators. Here's an idea of how much things cost when moving to Nashville, reported by PayScale: Energy bill: $150.73. Thats just part of the negotiations. Dont discount using a Realtor because you think you must pay 6% to 10% in commissions. The cheapest county to live in is Van Buren County with a median home price of $98,000. Wall Street Cheat Sheet named Tennessee as the state with the second lowest cost of living in the nation. This means that if you work in Tennessee, your paycheck will be free of taxes other than the federal income taxes and the soon to be abolished (2022) hall tax, which is a tax on dividends and interest. Some of the tourists attractions are Reelfoot Lake and Discovery Park of America. Read 30 reviews. Residents also spend more than the national average on utilities. SmartAsset Advisors, LLC ("SmartAsset"), a wholly owned subsidiary of Financial Insight Technology, is registered with the U.S. Securities and Exchange Commission as an investment adviser. Tennessee has no state-based minimum wage. Before you look at homes in Tennessee, you need to know whether you can actually afford to own one. However, for your standard 3-bedroom, 2-bathroom home, the median price currently stands at $326,327. According to a study bythe Health Care Cost Institute, prices in the Nashville metro area sit at 7% above the U.S. median, whereas the Chattanooga metro area is 4% below that mark. We do not hear many crime reports happening in the area where I live.. Current Resident: I have lived in this area my entire life. These reports also indicate that there isnt much upward variation around Tennessees largest cities. We live in a farming area. Source: Wikipedia (as of 04/11/2019). Tennessee borders eight other states: Kentucky and Virginia to the north; North Carolina to the east; Georgia, Alabama, and Mississippi on the south; Arkansas and Missouri on the Mississippi River to the west. However, this tax was repealed on January 1, 2021. Tennessee has no state income tax! Clingmans Dome, which lies on Tennessee's eastern border, is the highest point on the Appalachian Trail, and is the third highest peak in the United States east of the Mississippi River. This means that if you work in Tennessee, your paycheck will be free of taxes other than the federal income taxes and the soon to be abolished (2022) hall tax, which is a tax on dividends and interest. The estimated average annual cost for child care in Knoxville, Tennessee (based on state average), is $5857. The football program is big in Henry County they have been State champions several times. #23 Counties with the Lowest Cost of Living in Tennessee. 10 Most Affordable Cities to Live in Tennessee. The median home value in Alcoa is about $146,500. We may be covered in people making bad choices but all and all, everyone is kind and caring. Current Resident: I am so grateful to live in Decatur County and to attend the University of Tennessee Martin, Parsons Center. There are some negative things in our community such as the unemployment rate but the people and atmosphere out weighs any negative. 46 nationally. The population was 7,870 at the 2010 census.It was named to honor the Polish-born American Revolutionary War hero Kazimierz Puaski. If you want to camp in the park, youll pay between$14 and $23 per night. You can show this tosellerswhen youre looking at homes, to let them know that youre able to secure financing. Why? For a 2-bedroom apartment, the average monthly rent is only $854. The cheapest places to live in Tennessee rival that of any state. More Cost of Living or Compare Tennessee's Cost of Living WEATHER & CLIMATE Remember buyers: you need to know what a home will require in order for it to be up to your expectations of build quality. If any of these descriptions have you thinking about making the leap and moving to Tennessee, youll want to get a Realtor to help but there are a few things to keep in mind. "Cost of living" is the amount of money you need to sustain a certain lifestyle in a given place. The small town is great for knowing everyone around you. Want to pursue higher education in Tennessee, for yourself or your child? My career of choice is registered nursing, and since Camden is such a small town, I do not feel as if my career would flourish, and I wouldn't get as good of an experience compared to working in a bigger hospital with more opportunities to advance in nursing. These are 10 of the cheapest places to live in Tennessee, where many have relocated. Cost of Living Calculator | City and Salary Comparison Tool - NerdWallet Our partner agents will be there to help at every stage of the buying process. Yes! According to Time and Money magazines, Murfreesboro is one of the top 20 places to live in the US. The Pointe at Kirby Gate - $3300/Mo Starting Cost - Memphis If you are looking for help on your real estate journey, UpNest is a no-cost service for home sellers and buyers to find the best real estate agents locally. The school was built in the 70's and has not been renevated since! Cost of living is rising. Within a mile of Rockwood is a nine-hole golf course, access to beautiful Watts Bar Lake, a sports complex and walking trail, and Mount Roosevelt Wildlife area. If you look around at the neighborhoods close to the home youre considering, you may find other locations that may be a better price, closer to an important location, or simply newer than the one that youre considering. Published: Mar. Thats just part of the negotiations. When there is a tragedy everyone comes together. If youre a lover of country, bluegrass, or rock n roll, youll be happy to know that the Tennessee cost of living is relatively low. Rent Plus Care Fees. Adults find that moving can sometimes be an emotional and stressful experience. The median home value in Farragut is $376,300, while the median household income is $104,715. Jackson, Tennessee, and surrounding Madison County are located 90 miles northeast of Memphis . Often, if the seller is motivated enough to sell the house, they might work with you and include fixes and light renovations as a stipulation in the contract for the sale of the house. More Economy COST OF LIVING Compared to the rest of the country, Tennessee's cost of living is 10.1% lower than the U.S. average. Youll also have to pay some costs that you might not have had to pay while renting: utilities, cable, garbage pickup, and any necessary repairs. Remember, everything is negotiable in real estate. Once they review and verify your information, theyll determine whether to approve you for a mortgage. Take the cost of a dozen eggs. The existence of a fiduciary duty does not prevent the rise of potential conflicts of interest. With a population of 9,561, the median household income is $42,255. Alcoa is the cheapest place to live in Tennessee. Real estate agent commission is typically split 50/50 between the agents who represent thebuyerandseller. Step-By-Step Pay Equity Analysis Guide Product Guide By clicking Download Product Guide, Do you know what your employees really want for the holidays? It's a very loving environment, and I love that I grew up in a place where the Bible is at its center. The new employer premium rate for most industries, including manufacturing sector 31-33 and mining is 2.7%. For example, if you are a real estate investor selling and buying 10 homes a month, an agent might be willing to work a 50% off deal in exchange for the volume. In fact, Davidson County's property taxes increased 34% recently. So, out of a gross 6% commission, your agent would only typically get 3% gross. Featured Review: Parent says Although our reputation in Appalachia is varied, we are steadily gaining respect. Most teachers there, especially in high school, care deeply about their students and want to see them grow. Jefferson County cost of living is 85.1 100=National Average AVERAGE RENT BY BEDROOM SIZE Rent per Month Jefferson County Morristown Metro Tennessee United States Studio 1 Bedroom 2 Bedrooms 3 Bedrooms 4 Bedrooms 0 500 1000 1500 2000 2500 COST OF LIVING MAP + - With a population of about 23,778, this small suburb is less than 20 miles away from the heart of Knoxville. Some employers offer employees reduced fee bus or transit passes, so check that out with your employer. Read 36 reviews. The people here care for one another and are always offering a helping hand. Read 3 reviews. There are a variety of places to eat to suite everyone's preferences. It boasts the fifth lowest cost of living of any state in the country 10.2% below the national average in 2017. Tennessee also hasoptions for nature lovers. Admission to Great Smoky Mountains National Parkis free. Explore the counties with the lowest cost of living based on the consumer price index and access to affordable housing (housing-to-income rates). My overall experience in this area so far has been great. Since the school has not been touched since the 70's it still lies under the code from the 70's. Read 2 reviews. Most teachers there, especially in high school, care deeply about their students and want to see them grow. Bartlett boasts a population of 59,102 residents. #17 Counties with the Lowest Cost of Living in Tennessee. I would choose to live here again a great place to raise a family! matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. Unfortunately, while this all sounds great for individual workers and small business owners, economists fear that the elimination of a graduated-rate tax structure could accelerate inequality in Tennessee. A cost of living index above 100 means Williamson County, Tennessee is more expensive. In Memphis, you can expect to shell out (no pun intended) about $2.48, whereas in Chattanooga, the same pack of eggs would only cost $1.92. If they are receiving a referral from a trusted source they may offer a modest discount, while still giving a full-service experience. So, out of a gross 6% commission, your agent would only typically get 3% gross. We may be covered in people making bad choices but all and all, everyone is kind and caring. So, aside from federal income tax, the only tax that Tennessee residents need to worry about is sales tax. But remember, this average is accounting for home sales across urban and rural Tennessee. We have several right now. Read 20 reviews. Tennessee has no state property tax. 6 Niche users give it an average review of 3 stars. Cody Tromler is the Content Marketing Manager for UpNest.com. Tennessee's sales tax ranges from 8.5% to 9.75%, depending on the county in which you're shopping. The cost of living in Chapel Hill is 115% of the U.S. norm. This town is very family oriented. I would choose to live here again a great place to raise a family! 10 Cheapest Places to Live in Tennessee: A Guide, Discover the Best Affordable Places to Live in South Carolina, 10 Cheapest Places to Live in Washington: A Guide, Top Listing Agent Mike Bell in Pasadena, CA UpNest Spotlight, Rent to Own Homes Near Me: Saint Augustine. Its important to be aware of these issues, as it may cause a headache further down the road after youve purchased the house. There are also many other affordable cities in Tennessee that attract many people to move to the state. and there is great live music and the eclectic Sumner Crest Winery. Assistant Commissioner, Business and Workforce Development. The city sits about 30 miles southeast of Nashville. Featured Review: Current Resident says Pickett County is a very small town on the border of TN and KY. Featured Review: Parent says I was born and raised here. You can enjoy outdoor activities like hiking, biking, and running. Of course, specific costs will depend on your source of coverage and choice of plan. Maybe thats enough to get you to start thinking about moving there. For a family of four, the cost of food jumps to about $8,820. The average apartment rents for $834 a month. The base sales tax rate in Tennessee is 7% but specific jurisdictions may levy an additional 1.50% to 2.75% surcharge. 2022 Counties with the Lowest Cost of Living in Tennessee #8 Counties with the Lowest Cost of Living in Tennessee. The people here care for one another and are always offering a helping hand.. Niche User: As far as I been living here there isn't any police constantly around trying to stop any violence. I had no idea there were private schools that invested so much in their students learning goals and academics. Featured Review: Current Resident says Great community in which to live and raise a family in. The Family Restaurant 109 serves southern home-cooked meals. 24 Niche users give it an average review of 3 stars. Source: Wikipedia (as of 04/11/2019). The teachers at Lausanne truly are passionate about their work and they've taught my son how to think critically, advocate for himself and others, and how to become a better citizen. Since he has 2 children, he needs to have a large apartment. Tennessee includes the following metropolitan areas for which an Economy At A Glance table is available:. Cost of Living - Funding - The Graduate School at UNC-Chapel Hill Some employers have company provided day care centers that let you bring your child to work with you and receive care on site. Its best known for the Fort Campbell U.S. Army base on the states northern border, between Clarksville and Hopkinsville, Kentucky. Chattanooga residents pay slightly less, as a gallon of milk there is $3.09 and a dozen eggs is $1.92. Portland is a tight-knit, small-town community with reasonable access to plenty of bigger cities. There isn't anything like growing up in a small town with a tight-knit community.The overall criminal activity is low, and Camden is a great. Current Resident: Great community in which to live and raise a family in. Of that income, about $2,994, or 13.4% goes to food. Once you have purchased and moved into your new home, there will be utility and maintenance costs as well as property taxes and home insurance that will contribute to your, Tennessee has no state income tax! You can actually still go to your neighbors and borrow something. Nashville's cost of living is 3% lower and housing costs are also 9% lower than the national average. You also need to be aware of the market surrounding the house. The Hunter Museum of American Art in Chattanooga and the Frist Center for Visual Arts in Nashville are also $15. If you own a home in your former location the sale of that home needs to be completed as well. Often, if theselleris motivated enough to sell the house, they might work with you and include fixes and light renovations as a stipulation in the contract for the sale of the house. In other words, in Chapel Hill, your costs for basic consumables of living would be 15% higher than the U.S. national average. The schools are safe and its such a beautiful town. Only 6% said their income is going up faster than the cost of living." The poll comes amid soaring inflation and gas prices. Ranking based on data from the U.S. Census and BLS. You won't see a homeless person be homeless for longer then a day or will you see a hundred stray animals running around. If youve run the numbers and decided that yes, you can afford homeownership, your next step is to meet with a mortgage lender. With award-winning barbecue, family attractions, outdoor adventures and more, you can choose your own Tennessee vacation. If youre thinking of moving to Tennessee, youve probably wondered about how The Volunteer State compares to the rest of the country in basic cost-of-living expenses. The facilities are excellent! Its up to you whether you can comfortably accept their counter, respond with your own counteroffer, or walk away. Tennessee Quick Facts - Tennessee Department of Economic and Community Pay increases are a top concern for 2022 to attract and retain talent, Temporary employee laws: A guide to hiring contract roles, What to include in a termination letter: Template and examples, How to Manage Your Time and Prioritize Your Workload. In bustling cities and charming towns spread across three distinct regions, Tennessee offers a cost of living well below the national average. Home sellers may also work with their agents on bonuses and incentives. Making sure you have inspectors and independent contractors to inspect the house for any major issues can help save you a headache in the long run. Tennessee cost of living is 89.9 100=National Average AVERAGE RENT BY BEDROOM SIZE Rent per Month Tennessee United States Studio 1 Bedroom 2 Bedrooms 3 Bedrooms 4 Bedrooms 0 500 1000 1500 2000 2500