| Index | Collierville | Tennessee | National |
| Cost of living | 119 | 92 | 100 |
| Groceries | 99 | 98 | 100 |
| Health care | 96 | 97 | 100 |
| Housing | 168 | 80 | 100 |
| Transportation | 100 | 97 | 100 |
| Utilities | 96 | 98 | 100 |
| Lifestyle & Entertainment | 92 | 97 | 100 |
| Household Items | 96 | 98 | 100 |
| Education & Childcare | 101 | 97 | 100 |
Getting a feel for the cost of living in Collierville 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 Collierville is 119, which is 19% higher 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.
Housing costs are a very significant part of the Collierville cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 68.2% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.
Is Collierville affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Collierville, for instance, where the median home price falls 79.6% higher than the national average, and monthly rent rates are 41.4% higher than usual. Additionally, median income levels contribute to the equation, with Collierville flaunting a median household income of $171,503, 110.9% higher than the national norm.
Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Collierville, the housing index stands at 68.2% higher than the national average.
Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Collierville, the baseline sales tax rate begins at 7%, and income tax rates start at 0%.
Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Collierville, the groceries index is 1.3% lower than the national average.
The cost of living estimates displayed for Collierville are modeled using a U.S. average baseline of 100, helping provide a useful comparison of local living expenses. Housing calculations include U.S. Census home price and rental data, while all other values are AI-assisted estimates based on regional cost patterns, climate, transportation, and everyday spending expectations. These values are intended for directional comparisons across cities.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $186,936 | $15,578 | $4,362 | $5,609 |
| Renters | $105,582 | $8,799 | $2,463 | $3,168 |
| State | General Sales Tax | With Max Surtax |
| Tennessee | 7% | 9.75% |
| State | Income Tax (Low) | Income Tax (High) |
| Tennessee | 0% | 0% |
| City | Population | Cost of Living Index | National Avg. |
| Byhalia, MS | 1,692 | 85 | 14.6% |
| Olive Branch, MS | 39,759 | 101 | 1.1% |
| Bartlett, TN | 61,391 | 104 | 3.8% |
| Oakland, TN | 8,440 | 104 | 4.2% |
| Rossville, TN | 1,070 | 111 | 11.2% |
| Collierville, TN | 52,243 | 119 | 18.6% |
| City | Population | Cost of Living Index | National Avg. |
| Battle Creek, MI | 52,232 | 85 | 15.1% |
| Catalina Foothills, AZ | 52,225 | 135 | 34.8% |
| Mascouche, QC | 52,212 | n/a | |
| Hoffman Estates, IL | 52,201 | 116 | 16.4% |
| Lacey, WA | 52,421 | 122 | 22.5% |
| Collierville, TN | 52,243 | 119 | 18.6% |
Here are the best places to live in Tennessee
See the best places to live in Collierville
Safest States In The US
These are the 10 cheapest cities in Tennessee