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.
An overview of the general cost of living index for Alcoa, TN is displayed above for your reference. Residents in Alcoa, TN enjoy a cost of living index of 81. This index is 10% lower than the Tennessee average, and 19% 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 Alcoa, TN, the average cost of goods and services is 12% lower than it is in Tennessee, and it is 15% lower than the national average.
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The cost of living in Alcoa is 10% lower than the Tennessee average.
The cost of living in Alcoa is 19% lower than the national average.
The cost of housing in Alcoa is 31% lower than the national average.
Tennessee general sales tax is 37% higher than the national average.
Tennessee state income tax is 125% higher than the national average.
This is how much you would need to earn in Price difference in compared to
Cost of living index
Goods & Services index
Health care index
The salary calculator is meant to help you compare your salary in Alcoa, TN 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 Alcoa, TN, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Alcoa, TN 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
Max Budget (28% DTI)
Max Budget (36% DTI)
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Alcoa, 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 Alcoa, TN homeowners, is $43,705. This would allow for a maximum of $1,020 per month to be spent on housing costs. For renters, the median monthly income is $29,387 which would result in a maximum of $686 to be spent on rental costs.
Tennessee Sales Tax
General Sales Tax
With Max Surtax
Tennessee Income Tax
Income Tax (Low)
Income Tax (High)
When you are determining the total cost of living in Alcoa, 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 5% to 5%.
Goods & Services
Avg. Mortgage Payment
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.