Cost Of Living in Forest Hills, TN

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F

99%

Overall NAT. AVG.

6%

Goods & Services NAT. AVG.

339%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; 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.
Index	Forest Hills	Tennessee	National
Cost of living	199	89	100
Goods & Services	94	94	100
Groceries	100	98	100
Health care	91	88	100
Housing	439	80	100
Transportation	92	89	100
Utilities	102	93	100

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Cost Of Living Quick Facts

The cost of living in Forest Hills is 123% higher than the Tennessee average
The cost of living in Forest Hills is 99% higher than the national average
Forest Hills housing is 339% higher 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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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 Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$205,591	$17,133	$4,797	$6,168
Renters	$218,804	$18,234	$5,105	$6,565

To approximate the cost of living and the housing affordability in Forest Hills, TN, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Forest Hills have a median income of $205,591. Therefore, the amount that a consumer should spend on housing costs should be no more than $4,797 per month to avoid calamity and poverty. The renters in the city have an income of about $218,804, which would make their monthly maximum allowable rental costs $5,105.

Tennessee Sales Tax

State	General Sales Tax	With Max Surtax
Tennessee	7%	9.75%

Tennessee Income Tax

State	Income Tax (Low)	Income Tax (High)
Tennessee	0%	0%

Goods & Services

Item	Forest Hills	National avg.	Difference
Haircut	$24.76	$24.26	2.1%
Beauty Salon	$46.01	$45.56	1.0%
Toothpaste	$3.71	$3.70	0.2%
Shampoo	$1.23	$1.28	3.9%
Movie	$13.30	$12.13	9.6%
Bowling	$19.79	$18.00	9.9%

Groceries

Item	Forest Hills	National avg.	Difference
Ground Beef	$5.70	$5.84	2.4%
Fried Chicken	$1.43	$1.57	8.9%
Milk	$4.68	$4.67	0.2%
Potatoes	$5.16	$4.93	4.6%
Pizza	$10.85	$12.09	10.3%
Beer	$10.05	$10.41	3.5%

Health Care

Item	Forest Hills	National avg.	Difference
Optometrist	$96.03	$125.68	23.6%
Doctor	$116.91	$135.78	13.9%
Dentist	$104.65	$113.29	7.6%
Ibuprofen	$10.51	$10.65	1.3%
Lipitor	$460.51	$468.60	1.7%

Housing

Item	Forest Hills	National avg.	Difference
Home Price	$866,400.00	$184,700.00	369.1%
Avg. Mortgage Payment	$2,548.79	$2,346.69	8.6%
Apartment Rent	$3,501.00	$949.00	268.9%

Transportation

Item	Forest Hills	National avg.	Difference
Gasoline	$3.12	$3.46	9.8%
Tire Balancing	$57.43	$59.92	4.2%

Utilities

Item	Forest Hills	National avg.	Difference
All Electricity	$183.77	$193.99	5.3%
Phone	$218.37	$192.25	13.6%

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	Population	Cost of Living Index	National Avg.
Ashland City, TN	4,720	94	5.6%
Kingston Springs, TN	2,744	107	7.1%
Pegram, TN	2,492	108	8.1%
Nashville, TN	667,070	108	8.4%
Green Hill, TN	7,308	109	8.6%
Forest Hills, TN	4,868	199	98.9%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Normandy, MO	4,868	83	16.6%
Battlement Mesa, CO	4,870	101	1.3%
Connerton, FL	4,865	110	10.3%
Carmi, IL	4,865	85	15.3%
Chittenango, NY	4,871	94	6.4%
Forest Hills, TN	4,868	199	98.9%