Springfield 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.
IndexSpringfieldTennesseeNational
Cost of living index9291100
IndexSpringfieldTennesseeNational
Goods & Services index10298100
Groceries index9492100
Health care index8689100
Housing index7680100
Transportation index9793100
Utilities index10291100
A general overview of the cost of living index for Springfield, TN is displayed above. In Springfield, TN, the overall cost of living index is 92, which is 2% higher than the Tennessee average and 8% lower than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Springfield, TN, the city's goods and services are 4% higher than the Tennessee average and 2% higher than the U.S. average.

Did you know?

  • The cost of living in Springfield is 2% higher than the Tennessee average.
  • The cost of living in Springfield is 8% lower than the national average.
  • The cost of housing in Springfield is 24% 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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Compare Springfield, TN Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current salary in Springfield, 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 Springfield, TN, then you would need to earn more income in order to maintain the same standard of living. To use the Springfield, 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$50,246$4,187$1,172$1,508
Renters$26,553$2,213$620$797
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Springfield, TN as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Springfield, TN homeowners, is $50,246. This would allow for a maximum of $1,172 per month to be spent on housing costs. For renters, the median monthly income is $26,553 which would result in a maximum of $620 to be spent on rental costs.

Tennessee Sales Tax

StateGeneral Sales TaxWith Max Surtax
Tennessee7%9.75%

Tennessee Income Tax

StateIncome Tax (Low)Income Tax (High)
Tennessee0%0%
One thing to keep in mind when considering the cost of living in Springfield, TN is the Tennessee sales tax and Tennessee income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Tennessee sales tax rate is 7% and the maximum surtax that can be charged is 9.75%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Tennessee income tax rates range from 0% to 0%.

Goods & Services

ItemSpringfieldNational avg.Difference
Haircut $16.40$14.5912.4%
Beauty Salon $30.40$34.6812.3%
Toothpaste $2.69$2.478.8%
Shampoo $1.05$1.022.7%
Movie $10.05$9.871.8%
Bowling $4.55$4.393.6%

Groceries

ItemSpringfieldNational avg.Difference
Ground Beef $4.49$4.480.3%
Fried Chicken $1.31$1.4610.5%
Milk $1.87$2.3620.7%
Potatoes $2.58$3.0615.7%
Pizza $10.99$9.2418.9%
Beer $8.65$8.630.2%

Health Care

ItemSpringfieldNational avg.Difference
Optometrist $74.50$99.7825.3%
Doctor $78.33$105.0325.4%
Dentist $79.00$88.7010.9%
Ibuprofen $8.79$9.416.6%
Lipitor $276.00$298.507.5%

Housing

ItemSpringfieldNational avg.Difference
Home Price $127,900.00$175,700.0027.2%
Avg. Mortgage Payment $806.99$1,081.0325.3%
Apartment Rent $770.00$920.0016.3%

Transportation

ItemSpringfieldNational avg.Difference
Gasoline $2.11$2.091.0%
Tire Balancing $39.20$45.2913.4%

Utilities

ItemSpringfieldNational avg.Difference
All Electricity$193.08$170.8013.0%
Phone $24.50$28.2613.3%
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.
Walnut Grove, TN31881-19%
Adairville, KY1,15080-20%
Adams, TN83688-12%
Cedar Hill, TN36689-11%
Greenbrier, TN6,55094-6%
Springfield, TN16,59892-8%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Mineral Wells, TX16,59388-12%
Tifton, GA16,58989-11%
Pecan Grove, TX16,61999-1%
Wolf Trap, VA16,57718989%
Fairview Park, OH16,62596-4%
Springfield, TN16,59892-8%
Source: The Springfield, TN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.