A-
Overall 18%
Goods & Services 15%
Housing 31%
Date & Last Updated: This data reflects 2019 and was released from C2ER in January, 2020; 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.
IndexAlcoaTennesseeNational
Cost of living8289100
Goods & Services8593100
Groceries8995100
Health care9289100
Housing6980100
Transportation8388100
Utilities9396100

Key findings

  • The cost of living in Alcoa is 8% lower than the Tennessee average
  • The cost of living in Alcoa is 18% lower than the national average
  • Alcoa housing is 31% lower than the national average
  • Tennessee general sales tax is 37% higher than the national average
  • Tennessee state income tax is 59% lower than the national average

Most Affordable Places to Live in and Around Alcoa

See all the best places to live around Alcoa

Compare Alcoa, TN Cost of Living

      vs
      How would you rate the cost of living in Alcoa?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Alcoa?
      Write a review to give others more information about this area.
      See all Alcoa poll results

      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 IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      Owners$43,705$3,642$1,020$1,311
      Renters$29,387$2,449$686$882
      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 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

      StateGeneral Sales TaxWith Max Surtax
      Tennessee7%9.75%

      Tennessee Income Tax

      StateIncome Tax (Low)Income Tax (High)
      Tennessee1%1%

      Goods & Services

      ItemAlcoaNational avg.Difference
      Haircut $14.60$17.4916.5%
      Beauty Salon $37.40$38.172.0%
      Toothpaste $1.44$2.3238.0%
      Shampoo $0.85$1.0116.0%
      Movie $10.16$10.725.3%
      Bowling $18.00$13.8629.9%

      Groceries

      ItemAlcoaNational avg.Difference
      Ground Beef $4.22$3.908.2%
      Fried Chicken $0.98$1.4029.8%
      Milk $1.77$1.969.8%
      Potatoes $2.92$3.188.3%
      Pizza $9.99$10.393.9%
      Beer $9.69$9.235.0%

      Health Care

      ItemAlcoaNational avg.Difference
      Optometrist $88.00$106.3417.2%
      Doctor $102.60$115.2511.0%
      Dentist $89.60$98.388.9%
      Ibuprofen $7.98$9.2613.8%
      Lipitor $492.72$466.475.6%

      Housing

      ItemAlcoaNational avg.Difference
      Home Price $121,900.00$184,700.0034.0%
      Avg. Mortgage Payment $878.97$1,273.3231.0%
      Apartment Rent $734.00$949.0022.7%

      Transportation

      ItemAlcoaNational avg.Difference
      Gasoline $2.42$2.596.8%
      Tire Balancing $32.76$48.9033.0%

      Utilities

      ItemAlcoaNational avg.Difference
      All Electricity$146.78$167.6012.4%
      Phone $182.13$163.4211.5%
      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.
      Eagleton Village, TN4,90281-19%
      Knoxville, TN183,92782-18%
      Friendsville, TN82382-18%
      Vonore, TN1,79984-16%
      Greenback, TN1,02085-15%
      Alcoa, TN9,05882-18%

      Cities with similar population

      City, StatePopulationCost of Living IndexNational Avg.
      La Plata, MD9,05912323%
      Detroit Lakes, MN9,06095-5%
      Sheffield Lake, OH9,05592-8%
      Granbury, TX9,05294-6%
      Tuskegee, AL9,05086-14%
      Alcoa, TN9,05882-18%
      Source: The Alcoa, TN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.