A+
5%
Overall NAT. AVG.
6%
Goods & Services NAT. AVG.
25%
Housing NAT. AVG.
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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 Gallatin Tennessee National
Cost of living10589100
Goods & Services9494100
Groceries10098100
Health care9188100
Housing12580100
Transportation9289100
Utilities10293100

An Overview of Cost of Living in Gallatin, TN

Knowing the cost of living in Gallatin allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Gallatin stands at 105, marking it 5% higher than the national average.

The cost of living in Gallatin is about average when compared to all other cities across the nation. You can expect that everyday items like food, goods and services and utility bills will be no more expensive than any other average city. Residents can anticipate living expenses that remain in line with the national average, ensuring a manageable financial burden, making it an attractive choice for those seeking affordability without the constraints of higher everyday expenditures.

Housing costs significantly influence the Gallatin cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 24.8%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

What Do Locals Say About the Cost of Living in Gallatin?

Nobody knows their city better than the people who actually live there. So, we asked 5 local residents how they would rate the cost of living in Gallatin and this is how they responded. 20% of people said that the cost of living was affordable, with prices decreasing, while 80% of people said that the cost of living was very expensive and prices continue to rise.

Is Gallatin Affordable?

Is Gallatin an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Gallatin, the median home price is 31.9% higher than what most folks pay across the country, and monthly rent prices are 8.1% higher than the usual rates. Income levels in Gallatin come in at $60,930, which is 10.1% higher than the national average.

What Factors can Influence the Cost of Living in Gallatin?

Subsidies: Certain cities or states may institute government subsidies or assistance programs designed to alleviate the financial burdens associated with the cost of living for their residents. These programs encompass a variety of support mechanisms, including 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 farm subsidies. Areas that provide fewer subsidies may see an uptick in their overall cost of living.

Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Gallatin, the utilities index is 2.1% higher than the national average.

Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Gallatin, the general sales tax rate starts at 7%, and income tax rates begin at 0%.

Where is the Data From?

The Gallatin cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Gallatin is 17% higher than the Tennessee average
  • The cost of living in Gallatin is 5% higher than the national average
  • Gallatin housing is 25% 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

Most Affordable Places to Live in and Around Gallatin

See all the best places to live around Gallatin

Compare Gallatin, TN Cost of Living

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      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 Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$77,366$6,447$1,805$2,321
      Renters$40,739$3,395$951$1,222
      A good indicator of the general affordability of housing in Gallatin, TN, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Gallatin, the median monthly income is $77,366 for those who own their own homes. Under the standard rule, that income level would allow for $1,805 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $40,739, per the median income in the area. That would allow for renters to spend up to $951 on monthly rental expenses.

      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 Gallatin National avg. Difference
      Haircut $24.76$24.262.1%
      Beauty Salon $46.01$45.561.0%
      Toothpaste $3.71$3.700.2%
      Shampoo $1.23$1.283.9%
      Movie $13.30$12.139.6%
      Bowling $19.79$18.009.9%

      Groceries

      Item Gallatin National avg. Difference
      Ground Beef $5.70$5.842.4%
      Fried Chicken $1.43$1.578.9%
      Milk $4.68$4.670.2%
      Potatoes $5.16$4.934.6%
      Pizza $10.85$12.0910.3%
      Beer $10.05$10.413.5%

      Health Care

      Item Gallatin National avg. Difference
      Optometrist $96.03$125.6823.6%
      Doctor $116.91$135.7813.9%
      Dentist $104.65$113.297.6%
      Ibuprofen $10.51$10.651.3%
      Lipitor $460.51$468.601.7%

      Housing

      Item Gallatin National avg. Difference
      Home Price $243,600.00$184,700.0031.9%
      Avg. Mortgage Payment $2,548.79$2,346.698.6%
      Apartment Rent $1,026.00$949.008.1%

      Transportation

      Item Gallatin National avg. Difference
      Gasoline $3.12$3.469.8%
      Tire Balancing $57.43$59.924.2%

      Utilities

      Item Gallatin National avg. Difference
      All Electricity $183.77$193.995.3%
      Phone $218.37$192.2513.6%
      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.
      Bransford, TN269964.0%
      Castalian Springs, TN397964.0%
      Graball, TN105964.0%
      Bethpage, TN481919.0%
      Westmoreland, TN2,622927.9%
      Gallatin, TN40,2621054.6%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Valrico, FL40,2591088.4%
      Newnan, GA40,2271021.8%
      Woburn, MA40,29715655.5%
      Holyoke, MA40,1611065.5%
      Wentzville, MO40,4071022.4%
      Gallatin, TN40,2621054.6%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.