Lexington 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.
IndexLexingtonTennesseeNational
Cost of living index8690100
IndexLexingtonTennesseeNational
Goods & Services index10797100
Groceries index7993100
Health care index9290100
Housing index6680100
Transportation index9190100
Utilities index7692100
Displayed above is a general overview of the Lexington, TN cost of living index. The overall cost of living index in Lexington, TN is 86, which is 5% lower than the Tennessee average and 14% lower 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 Lexington, TN are 10% higher than the Tennessee average and 7% higher than the national average.

Did you know?

  • The cost of living in Lexington is 5% lower than the Tennessee average.
  • The cost of living in Lexington is 14% lower than the national average.
  • The cost of housing in Lexington is 34% lower 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 Lexington, TN Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
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Groceries index
Health care index
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Using the salary calculator lets you compare the salary you earn in Lexington, TN to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Lexington, TN, you have to earn a higher income in order to still have the same standard of living. To operate the Lexington, TN salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$58,505$4,875$1,365$1,755
Renters$15,143$1,262$353$454
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Lexington, 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 Lexington, TN homeowners, is $58,505. This would allow for a maximum of $1,365 per month to be spent on housing costs. For renters, the median monthly income is $15,143 which would result in a maximum of $353 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 assessing the complete cost of living in Lexington, TN, the Tennessee income tax and the Tennessee sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Tennessee maximum surtax is 9.75%, and the Tennessee sales tax is 7%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 0% to 0% in Tennessee.

Goods & Services

ItemLexingtonNational avg.Difference
Haircut $13.08$15.5615.9%
Beauty Salon $33.80$36.116.4%
Toothpaste $1.25$2.4749.4%
Shampoo $1.00$0.963.6%
Movie $10.00$10.131.3%
Bowling $7.50$4.7458.4%

Groceries

ItemLexingtonNational avg.Difference
Ground Beef $2.88$3.9827.6%
Fried Chicken $1.14$1.4119.2%
Milk $1.75$2.0615.2%
Potatoes $2.43$2.9818.4%
Pizza $9.19$9.473.0%
Beer $10.28$8.7916.9%

Health Care

ItemLexingtonNational avg.Difference
Optometrist $106.29$101.045.2%
Doctor $119.31$107.4411.0%
Dentist $69.43$90.4223.2%
Ibuprofen $6.33$9.2831.8%
Lipitor $426.43$426.500.0%

Housing

ItemLexingtonNational avg.Difference
Home Price $120,400.00$175,700.0031.5%
Avg. Mortgage Payment $838.36$1,133.2326.0%
Apartment Rent $555.00$920.0039.7%

Transportation

ItemLexingtonNational avg.Difference
Gasoline $1.81$1.999.1%
Tire Balancing $42.09$45.768.0%

Utilities

ItemLexingtonNational avg.Difference
All Electricity$151.62$163.817.4%
Phone $15.32$28.3946.0%
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.
Sardis, TN38577-23%
Chesterfield, TN37880-20%
Darden, TN48080-20%
Scotts Hill, TN92581-19%
Clarksburg, TN47582-18%
Lexington, TN7,77186-14%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Bryans Road, MD7,77212020%
Mount Joy, PA7,77498-2%
Highlands, TX7,77589-11%
Bernardsville, NJ7,76616868%
Sutherlin, OR7,77698-2%
Lexington, TN7,77186-14%
Source: The Lexington, TN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.