Munford 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.
IndexMunfordTennesseeNational
Cost of living index9191100
IndexMunfordTennesseeNational
Goods & Services index9398100
Groceries index9192100
Health care index8589100
Housing index8780100
Transportation index8993100
Utilities index9791100
An overview of the general cost of living index for Munford, TN is displayed above for your reference. Residents in Munford, TN enjoy a cost of living index of 91. This index is equal to the Tennessee average, and 9% lower than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Munford, TN, the average cost of goods and services is 6% lower than it is in Tennessee, and it is 8% lower than the national average.

Did you know?

  • The cost of living in Munford is equal to the Tennessee average.
  • The cost of living in Munford is 9% lower than the national average.
  • The cost of housing in Munford is 13% 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
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator allows you to compare how much your current salary in Munford, TN would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Munford, TN, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Munford, TN salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$75,709$6,309$1,766$2,271
Renters$52,675$4,390$1,229$1,580
The affordability of the housing market in Munford, TN as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Munford, TN homeowners, the median income is $75,709. This indicates that a monthly maximum of $1,766 should be spent by homeowners on all housing related costs. Renters have a median income of $52,675. This indicates that renters should have a maximum of $1,229 used for their rent related monthly 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 Munford, 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

ItemMunfordNational 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

ItemMunfordNational 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

ItemMunfordNational 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

ItemMunfordNational avg.Difference
Home Price $143,100.00$175,700.0018.6%
Avg. Mortgage Payment $730.10$1,081.0332.5%
Apartment Rent $928.00$920.000.9%

Transportation

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

Utilities

ItemMunfordNational 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.
Wilson, AR92779-21%
Covington, TN9,03382-18%
Gilt Edge, TN52883-17%
Burlison, TN45185-15%
Gallaway, TN85186-14%
Munford, TN6,00191-9%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Northville, MI6,0011066%
Mulvane, KS6,00091-9%
Ramblewood, NJ5,99912828%
Pleasure Point, CA6,00417575%
Pigeon Forge, TN6,00491-9%
Munford, TN6,00191-9%
Source: The Munford, TN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.