A+
7%
Overall NAT. AVG.
11%
Goods & Services NAT. AVG.
3%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Seymour Tennessee National
Cost of living9389100
Goods & Services8994100
Groceries9998100
Health care8888100
Housing9780100
Transportation8989100
Utilities9493100

An Overview of Cost of Living in Seymour, TN

Getting a feel for the cost of living in Seymour is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Seymour is 93, which is 7% lower than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

In Seymour, daily expenses such as food, housing, goods and services, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Seymour will resemble that of an average city, contributing to a manageable cost of living.

Everyday staples like clothes, toiletries and entertainment expenses play a big role in your total living costs. But in Seymour, these goods are 11.3% cheaper than the national average. So, you can enjoy what you need and love without emptying your wallet. Plus, you'll have more cash to put towards your savings or any other money goals you have, which is a real boost for your financial well-being.

Is Seymour Affordable?

Is Seymour an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Seymour is 1.1% lower than the national average, while the average monthly rent prices are 7.6% lower than average. The affordability of any location can also be influenced by median income levels. Seymour has a median household income of $61,490, which is 11.1% higher than the national average.

What Factors can Influence the Cost of Living in Seymour?

Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Seymour, the transportation index is 10.7% lower than the national average.

Subsidies: Certain regions may provide government subsidies or assistance initiatives designed to alleviate the cost of living burden on their residents. These programs encompass a wide range of support mechanisms, such as Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas with fewer subsidy offerings might experience an elevation in their cost of living.

Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.

Where is the Data From?

The Seymour cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Seymour is 4% higher than the Tennessee average
  • The cost of living in Seymour is 7% lower than the national average
  • Seymour housing is 3% 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

Most Affordable Places to Live in and Around Seymour

See all the best places to live around Seymour

Compare Seymour, TN Cost of Living

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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

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$66,288$5,524$1,547$1,989
      Renters$40,435$3,370$943$1,213
      The affordability of the housing market in Seymour, TN as well as the overall cost of living can be predicted 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 be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Seymour homeowners, the median income is $66,288. This indicates that a monthly maximum of $1,547 should be spent by homeowners on all housing related costs. Renters have a median income of $40,435. This indicates that renters would have a maximum of $943 for their rent related monthly costs.

      Tennessee Sales Tax

      State General Sales Tax With Max Surtax
      Tennessee 7% 9.75%

      Tennessee Income Tax

      State Income Tax (Low) Income Tax (High)
      Tennessee 0% 0%

      Goods & Services

      Item Seymour National avg. Difference
      Haircut $17.07$24.2629.7%
      Beauty Salon $42.00$45.567.8%
      Toothpaste $3.69$3.700.4%
      Shampoo $1.23$1.283.9%
      Movie $12.31$12.131.5%
      Bowling $21.60$18.0020.0%

      Groceries

      Item Seymour National avg. Difference
      Ground Beef $5.73$5.841.8%
      Fried Chicken $1.42$1.579.5%
      Milk $4.67$4.670.0%
      Potatoes $5.03$4.932.0%
      Pizza $11.42$12.095.5%
      Beer $10.06$10.413.3%

      Health Care

      Item Seymour National avg. Difference
      Optometrist $92.00$125.6826.8%
      Doctor $112.00$135.7817.5%
      Dentist $92.27$113.2918.6%
      Ibuprofen $10.49$10.651.6%
      Lipitor $517.33$468.6010.4%

      Housing

      Item Seymour National avg. Difference
      Home Price $182,700.00$184,700.001.1%
      Avg. Mortgage Payment $1,886.05$2,346.6919.6%
      Apartment Rent $877.00$949.007.6%

      Transportation

      Item Seymour National avg. Difference
      Gasoline $3.11$3.4610.3%
      Tire Balancing $52.80$59.9211.9%

      Utilities

      Item Seymour National avg. Difference
      All Electricity $173.24$193.9910.7%
      Phone $192.18$192.250.0%
      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 Population Cost of Living Index National Avg.
      Mascot, TN2,6818514.8%
      Eagleton Village, TN5,8098712.5%
      Alcoa, TN9,8098811.8%
      Knoxville, TN187,4878911.5%
      Pigeon Forge, TN6,247928.2%
      Seymour, TN15,444937.0%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Hueytown, AL15,446909.5%
      Tanque Verde, AZ15,44613736.6%
      Riverdale, GA15,455909.6%
      Colonial Park, PA15,4571010.8%
      Addison, TX15,42813130.7%
      Seymour, TN15,444937.0%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.