Germantown cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexGermantownTennesseeNational
Cost of living index11291100
IndexGermantownTennesseeNational
Goods & Services index9398100
Groceries index9192100
Health care index8589100
Housing index15980100
Transportation index8993100
Utilities index9791100
Displayed above is a general overview of the Germantown, TN cost of living index. The overall cost of living index in Germantown, TN is 112, which is 24% higher than the Tennessee average and 12% higher than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Germantown, TN are 6% lower than the Tennessee average and 8% lower than the national average.

Did you know?

  • The cost of living in Germantown is 24% higher than the Tennessee average.
  • The cost of living in Germantown is 12% higher than the national average.
  • The cost of housing in Germantown is 59% higher than the national average.
  • Tennessee general sales tax is 37% higher than the national average.
  • Tennessee state income tax is 100% lower than the national average.

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Compare Germantown, TN Cost of living To Other Cities

Salary Calculator

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Cost of living index
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Health care index
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The salary calculator is used in order to provide a comparison of your current salary in Germantown, TN to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Germantown, TN, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Germantown, TN salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$120,671$10,056$2,815$3,620
Renters$58,236$4,853$1,359$1,747
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Germantown, TN as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Germantown, TN homeowners, is $120,671. This would allow for a maximum of $2,815 per month to be spent on housing costs. For renters, the median monthly income is $58,236 which would result in a maximum of $1,359 to be spent on rental costs.

Tennessee Sales Tax

StateGeneral Sales TaxWith Max Surtax
Tennessee7%9.75%

Tennessee Income Tax

StateIncome Tax (Low)Income Tax (High)
Tennessee0%0%
When you are determining the total cost of living in Germantown, TN you will want to make sure you consider both the Tennessee sales tax and the Tennessee income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Tennessee is 7%, with the highest surtax being 9.75%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Tennessee have a range from 0% to 0%.

Goods & Services

ItemGermantownNational avg.Difference
Haircut $15.25$14.594.5%
Beauty Salon $30.80$34.6811.2%
Toothpaste $2.59$2.474.7%
Shampoo $0.82$1.0219.8%
Movie $10.30$9.874.4%
Bowling $3.41$4.3922.4%

Groceries

ItemGermantownNational avg.Difference
Ground Beef $4.79$4.487.0%
Fried Chicken $1.21$1.4617.4%
Milk $2.33$2.361.1%
Potatoes $3.15$3.062.9%
Pizza $8.39$9.249.2%
Beer $8.31$8.633.7%

Health Care

ItemGermantownNational avg.Difference
Optometrist $70.00$99.7829.8%
Doctor $83.80$105.0320.2%
Dentist $85.00$88.704.2%
Ibuprofen $8.48$9.419.9%
Lipitor $233.97$298.5021.6%

Housing

ItemGermantownNational avg.Difference
Home Price $282,100.00$175,700.0060.6%
Avg. Mortgage Payment $730.10$1,081.0332.5%
Apartment Rent $1,442.00$920.0056.7%

Transportation

ItemGermantownNational avg.Difference
Gasoline $1.87$2.0910.6%
Tire Balancing $40.40$45.2910.8%

Utilities

ItemGermantownNational avg.Difference
All Electricity$151.24$170.8011.5%
Phone $30.75$28.268.8%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Byhalia, MS1,34280-20%
Memphis, TN656,71584-16%
Southaven, MS50,38990-10%
Rossville, TN64194-6%
Olive Branch, MS34,54394-6%
Germantown, TN39,20711212%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Wausau, WI39,20986-14%
Clovis, NM39,20486-14%
Maplewood, MN39,2611044%
North Fort Myers, FL39,14388-12%
Marlborough, MA39,14113535%
Germantown, TN39,20711212%
Source: The Germantown, TN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.