| Index | Knoxville | Tennessee | National |
| Cost of living | 92 | 92 | 100 |
| Groceries | 95 | 98 | 100 |
| Health care | 99 | 97 | 100 |
| Housing | 82 | 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 |
The cost of living in Knoxville affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Knoxville is 92, which is 8% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.
The cost of living in Knoxville is about average when compared to all other cities across the nation. You can expect that everyday items like food, household expenses 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.
Nobody knows their city better than the people who actually live there. So, we asked 24 local residents how they would rate the cost of living in Knoxville and this is how they responded. 42% of people said that the cost of living was affordable, with prices decreasing, while 58% of people said that the cost of living was very expensive and prices continue to rise.
Is Knoxville affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Knoxville, the median home price is 23% lower than the national average and monthly rent prices are 5.8% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Knoxville boasting a median household income of $62,453, 23.2% lower 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 Knoxville, the baseline sales tax rate begins at 7%, and income tax rates start at 0%.
Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Knoxville, healthcare costs are 1.3% lower than the national average.
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 Knoxville, the housing index stands at 17.8% lower than the national average.
The cost of living data for Knoxville shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between 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 | $86,406 | $7,201 | $2,016 | $2,592 |
| Renters | $44,231 | $3,686 | $1,032 | $1,327 |
| 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. |
| Plainview, TN | 2,170 | 89 | 10.8% |
| Mascot, TN | 2,762 | 90 | 10.4% |
| Eagleton Village, TN | 6,009 | 92 | 8.5% |
| Blaine, TN | 2,027 | 92 | 8.3% |
| Alcoa, TN | 10,194 | 92 | 8.3% |
| Knoxville, TN | 193,504 | 92 | 7.6% |
| City | Population | Cost of Living Index | National Avg. |
| Cape Coral, FL | 194,835 | 114 | 13.5% |
| Frisco, TX | 195,310 | 132 | 32.2% |
| McKinney, TX | 195,852 | 121 | 20.6% |
| Shreveport, LA | 197,125 | 95 | 5.3% |
| Mobile, AL | 197,324 | 91 | 8.8% |
| Knoxville, TN | 193,504 | 92 | 7.6% |
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