Nashville 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.
IndexNashvilleNorth CarolinaNational
Cost of living index9297100
IndexNashvilleNorth CarolinaNational
Goods & Services index100101100
Groceries index100100100
Health care index99104100
Housing index7387100
Transportation index99102100
Utilities index98100100
An overview of the general cost of living index for Nashville, NC is displayed above for your reference. Residents in Nashville, NC enjoy a cost of living index of 92. This index is 5% lower than the North Carolina average, and 8% 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 Nashville, NC, the average cost of goods and services is equal to it is in North Carolina, and it is equal to the national average.

Did you know?

  • The cost of living in Nashville is 5% lower than the North Carolina average.
  • The cost of living in Nashville is 8% lower than the national average.
  • The cost of housing in Nashville is 27% lower than the national average.
  • North Carolina general sales tax is 7% lower than the national average.
  • North Carolina state income tax is 159% higher than the national average.

Find Real Estate Listings In Nashville

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Nashville

Compare Nashville, NC 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
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator is meant to help you compare your salary in Nashville, NC to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Nashville, NC, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Nashville, NC salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$62,579$5,215$1,460$1,878
Renters$30,184$2,515$704$906
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Nashville, NC, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Nashville, NC has a median income of about $62,579 for people who own homes. Based on that number, a person should spend a maximum of $1,460 on expenses related to housing. Renters have a slightly different median income, which is $30,184. Based on this average, renters should spend no more than $704 on all of their rental costs if they want to maintain a non-impoverished standard of living.

North Carolina Sales Tax

StateGeneral Sales TaxWith Max Surtax
North Carolina4.75%7.5%

North Carolina Income Tax

StateIncome Tax (Low)Income Tax (High)
North Carolina5.75%5.75%
When you are determining the total cost of living in Nashville, NC you will want to make sure you consider both the North Carolina sales tax and the North Carolina 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 North Carolina is 4.75%, with the highest surtax being 7.5%. 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 North Carolina have a range from 5.75% to 5.75%.

Goods & Services

ItemNashvilleNational avg.Difference
Haircut $18.57$14.5927.3%
Beauty Salon $40.57$34.6817.0%
Toothpaste $2.44$2.471.3%
Shampoo $1.01$1.021.2%
Movie $9.86$9.870.1%
Bowling $4.44$4.391.1%

Groceries

ItemNashvilleNational avg.Difference
Ground Beef $4.69$4.484.8%
Fried Chicken $1.35$1.467.8%
Milk $2.50$2.366.1%
Potatoes $3.64$3.0618.9%
Pizza $9.27$9.240.3%
Beer $8.62$8.630.1%

Health Care

ItemNashvilleNational avg.Difference
Optometrist $98.75$99.781.0%
Doctor $95.79$105.038.8%
Dentist $98.29$88.7010.8%
Ibuprofen $9.61$9.412.1%
Lipitor $258.40$298.5013.4%

Housing

ItemNashvilleNational avg.Difference
Home Price $134,300.00$175,700.0023.6%
Avg. Mortgage Payment $797.74$1,081.0326.2%
Apartment Rent $610.00$920.0033.7%

Transportation

ItemNashvilleNational avg.Difference
Gasoline $2.22$2.096.3%
Tire Balancing $35.50$45.2921.6%

Utilities

ItemNashvilleNational avg.Difference
All Electricity$147.80$170.8013.5%
Phone $31.99$28.2613.2%
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.
Castalia, NC28581-19%
Spring Hope, NC1,20585-15%
Whitakers, NC91686-14%
Momeyer, NC39187-13%
Sharpsburg, NC1,95687-13%
Nashville, NC5,46992-8%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Whiteville, NC5,46589-11%
Apple Valley, OH5,46594-6%
Hoopeston, IL5,47482-18%
Charles Town, WV5,4641033%
Lake Murray of Richland, SC5,47512121%
Nashville, NC5,46992-8%
Source: The Nashville, NC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.