McKenzie 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.
IndexMcKenzieTennesseeNational
Cost of living index8791100
IndexMcKenzieTennesseeNational
Goods & Services index11398100
Groceries index8992100
Health care index9189100
Housing index5480100
Transportation index9693100
Utilities index9091100
The above illustration supplies generalized information for the McKenzie, TN cost of living index. Compared to other cities in Tennessee and cities across the country, the cost of living index in McKenzie, TN is 87, which is 4% lower than the Tennessee average and 13% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in McKenzie, TN are 15% higher than the average for Tennessee and 13% higher than the rest of the country.

Did you know?

  • The cost of living in McKenzie is 4% lower than the Tennessee average.
  • The cost of living in McKenzie is 13% lower than the national average.
  • The cost of housing in McKenzie is 46% 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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Salary Calculator

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Use the salary calculator to compare your current income in McKenzie, TN to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of McKenzie, TN, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the McKenzie, TN salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$45,852$3,821$1,070$1,376
Renters$27,522$2,294$642$826
One can approximate the cost of living and the housing affordability in McKenzie, TN by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in McKenzie, TN have a median income of $45,852. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,070 per month to avoid calamity and poverty. The renters in the city have an income of about $27,522, which would make their monthly maximum allowable rental costs $642.

Tennessee Sales Tax

StateGeneral Sales TaxWith Max Surtax
Tennessee7%9.75%

Tennessee Income Tax

StateIncome Tax (Low)Income Tax (High)
Tennessee0%0%
The Tennessee sales tax and Tennessee income tax rates should definitely be considered when determining the overall cost of living in McKenzie, TN. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Tennessee sales tax is 7% and the maximum surtax is 9.75%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Tennessee income tax rates range from 0% to 0%.

Goods & Services

ItemMcKenzieNational avg.Difference
Haircut $13.25$14.599.2%
Beauty Salon $32.00$34.687.7%
Toothpaste $1.50$2.4739.4%
Shampoo $1.33$1.0230.1%
Movie $9.00$9.878.8%
Bowling $4.10$4.396.6%

Groceries

ItemMcKenzieNational avg.Difference
Ground Beef $2.97$4.4833.7%
Fried Chicken $1.00$1.4631.7%
Milk $1.81$2.3623.2%
Potatoes $3.08$3.060.6%
Pizza $9.88$9.246.9%
Beer $7.97$8.637.7%

Health Care

ItemMcKenzieNational avg.Difference
Optometrist $110.00$99.7810.2%
Doctor $99.00$105.035.7%
Dentist $69.60$88.7021.5%
Ibuprofen $6.83$9.4127.4%
Lipitor $316.00$298.505.9%

Housing

ItemMcKenzieNational avg.Difference
Home Price $88,900.00$175,700.0049.4%
Avg. Mortgage Payment $769.34$1,081.0328.8%
Apartment Rent $559.00$920.0039.2%

Transportation

ItemMcKenzieNational avg.Difference
Gasoline $1.98$2.095.5%
Tire Balancing $46.00$45.291.6%

Utilities

ItemMcKenzieNational avg.Difference
All Electricity$158.55$170.807.2%
Phone $24.01$28.2615.0%
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.
Bruceton, TN1,77984-16%
Gleason, TN1,36584-16%
Trezevant, TN88584-16%
Henry, TN48085-15%
Dresden, TN2,94985-15%
McKenzie, TN5,56187-13%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Rio Pinar, FL5,56211515%
Windcrest, TX5,56296-4%
Milton, WI5,56293-7%
Brownfields, LA5,56290-10%
Big Stone Gap, VA5,55986-14%
McKenzie, TN5,56187-13%
Source: The McKenzie, TN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.