Milan 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.
IndexMilanTennesseeNational
Cost of living index8891100
IndexMilanTennesseeNational
Goods & Services index11398100
Groceries index8992100
Health care index9189100
Housing index5780100
Transportation index9693100
Utilities index9091100
Here we can see a simple outline of the cost of living in Milan, TN. As you can see, with the average cost of living in Milan, TN being 88, that puts it 3% lower than the average of Tennessee and 12% lower than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Milan, TN, the price of goods and services are 15% higher than the average of Tennessee as well as 13% higher than the nation's average.

Did you know?

  • The cost of living in Milan is 3% lower than the Tennessee average.
  • The cost of living in Milan is 12% lower than the national average.
  • The cost of housing in Milan is 43% 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

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
Housing index
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Use the salary calculator to compare your current salary in Milan, TN to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Milan, TN, then you would need to earn more income in order to maintain the same standard of living. To use the Milan, TN salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$42,760$3,563$998$1,283
Renters$25,962$2,164$606$779
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Milan, TN, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Milan, TN homeowners have a median income of $42,760. Using that number, you will come up with a maximum of $998 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $25,962, which means there is a maximum of $606 to be spent on the costs of renting a home or apartment.

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 Milan, 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

ItemMilanNational 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

ItemMilanNational 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

ItemMilanNational 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

ItemMilanNational avg.Difference
Home Price $91,700.00$175,700.0047.8%
Avg. Mortgage Payment $769.34$1,081.0328.8%
Apartment Rent $634.00$920.0031.1%

Transportation

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

Utilities

ItemMilanNational 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.
Trezevant, TN88584-16%
Rutherford, TN1,15086-14%
Bradford, TN1,18786-14%
Atwood, TN96686-14%
Dyer, TN2,33586-14%
Milan, TN7,82688-12%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
St. Augustine Shores, FL7,82499-1%
Galliano, LA7,83085-15%
Tremonton, UT7,83393-7%
Savoy, IL7,8351011%
Newport, AR7,81778-22%
Milan, TN7,82688-12%
Source: The Milan, TN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.