| Index | Farragut | Tennessee | National |
| Cost of living | 123 | 92 | 100 |
| Groceries | 95 | 98 | 100 |
| Health care | 99 | 97 | 100 |
| Housing | 185 | 80 | 100 |
| Transportation | 95 | 97 | 100 |
| Utilities | 95 | 98 | 100 |
| Lifestyle & Entertainment | 96 | 97 | 100 |
| Household Items | 96 | 98 | 100 |
| Education & Childcare | 102 | 97 | 100 |
Getting a feel for the cost of living in Farragut 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 Farragut is 123, which is 23% 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.
If affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Farragut is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Farragut falls into this category, which may not align with your goal of finding a budget-friendly living environment.
Housing costs make up a big chunk of the cost of living in Farragut, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 85.2% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.
Wondering if Farragut is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Farragut, for example, the median home price is 107.9% higher than what folks pay nationally, and monthly rent is 32% higher than the usual rates. Plus, income levels matter too, with Farragut boasting a median household income of $161,503, which is 98.6% higher than the national average.
Subsidies: Some areas might offer government subsidies or assistance programs that help lower cost of living for residents. These programs can include anything from 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 crop subsidies. Areas that offer less subsidies, could see an increase in their cost of living.
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 Farragut, the baseline sales tax rate begins at 7%, and income tax rates start at 0%.
Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In Farragut, healthcare costs are 1.3% lower than the national average.
The Farragut cost of living estimates above use a normalized U.S. average of 100 as the baseline for comparison. Housing values incorporate local home price and rental information from the U.S. Census, while all other estimates are AI-assisted and modeled using expected everyday expenses, local market trends, climate, and transportation-related cost pressures. The results are intended for practical city-to-city comparisons.
| 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 | $173,054 | $14,421 | $4,038 | $5,192 |
| Renters | $96,935 | $8,078 | $2,262 | $2,908 |
| 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. |
| Oliver Springs, TN | 4,054 | 87 | 13.3% |
| Philadelphia, TN | 838 | 87 | 13.1% |
| Loudon, TN | 6,040 | 89 | 11.5% |
| Coalfield, TN | 2,925 | 91 | 9.0% |
| Eagleton Village, TN | 6,009 | 92 | 8.5% |
| Farragut, TN | 23,607 | 123 | 23.3% |
| City | Population | Cost of Living Index | National Avg. |
| Eastmont, WA | 23,603 | 148 | 48.2% |
| East San Gabriel, CA | 23,601 | 185 | 84.8% |
| Dickinson, ND | 23,614 | 104 | 4.4% |
| Kihei, HI | 23,616 | 176 | 75.8% |
| Crystal, MN | 23,618 | 105 | 4.8% |
| Farragut, TN | 23,607 | 123 | 23.3% |
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