Madisonville cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexMadisonvilleTennesseeNational
Cost of living index7989100
IndexMadisonvilleTennesseeNational
Goods & Services index8593100
Groceries index8995100
Health care index9289100
Housing index5980100
Transportation index8388100
Utilities index9396100
A general overview of the cost of living index for Madisonville, TN is displayed above. In Madisonville, TN, the overall cost of living index is 79, which is 11% lower than the Tennessee average and 21% lower than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Madisonville, TN, the city's goods and services are 8% lower than the Tennessee average and 15% lower than the U.S. average.
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Did you know?

  • The cost of living in Madisonville is 11% lower than the Tennessee average.
  • The cost of living in Madisonville is 21% lower than the national average.
  • The cost of housing in Madisonville is 41% lower than the national average.
  • Tennessee general sales tax is 37% higher than the national average.
  • Tennessee state income tax is 170% higher than the national average.

Compare Madisonville, TN Cost of living To Other Cities

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      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
      The salary calculator allows you to compare how much your current salary in Madisonville, TN would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Madisonville, TN, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Madisonville, TN salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

      Median Income & Debt-To-Income Ratio

      Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      Owners$49,407$4,117$1,153$1,482
      Renters$20,653$1,721$482$620
      How much of your monthly income goes to housing can tell you whether or not you can afford housing in Madisonville, TN, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Madisonville, TN homeowners have a median income of $49,407. Using that number, you will come up with a maximum of $1,153 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $20,653, which means there is a maximum of $482 to be spent on the costs of renting a home or apartment.

      Tennessee Sales Tax

      StateGeneral Sales TaxWith Max Surtax
      Tennessee7%9.75%

      Tennessee Income Tax

      StateIncome Tax (Low)Income Tax (High)
      Tennessee6%6%
      The Tennessee sales tax and Tennessee income tax rates should definitely be considered when determining the overall cost of living in Madisonville, TN. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Tennessee sales tax is 7% and the maximum surtax is 9.75%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Tennessee income tax rates range from 6% to 6%.

      Goods & Services

      ItemMadisonvilleNational avg.Difference
      Haircut $14.60$17.4916.5%
      Beauty Salon $37.40$38.172.0%
      Toothpaste $1.44$2.3238.0%
      Shampoo $0.85$1.0116.0%
      Movie $10.16$10.725.3%
      Bowling $18.00$13.8629.9%

      Groceries

      ItemMadisonvilleNational avg.Difference
      Ground Beef $4.22$3.908.2%
      Fried Chicken $0.98$1.4029.8%
      Milk $1.77$1.969.8%
      Potatoes $2.92$3.188.3%
      Pizza $9.99$10.393.9%
      Beer $9.69$9.235.0%

      Health Care

      ItemMadisonvilleNational avg.Difference
      Optometrist $88.00$106.3417.2%
      Doctor $102.60$115.2511.0%
      Dentist $89.60$98.388.9%
      Ibuprofen $7.98$9.2613.8%
      Lipitor $492.72$466.475.6%

      Housing

      ItemMadisonvilleNational avg.Difference
      Home Price $109,800.00$184,700.0040.6%
      Avg. Mortgage Payment $878.97$1,273.3231.0%
      Apartment Rent $562.00$949.0040.8%

      Transportation

      ItemMadisonvilleNational avg.Difference
      Gasoline $2.42$2.596.8%
      Tire Balancing $32.76$48.9033.0%

      Utilities

      ItemMadisonvilleNational avg.Difference
      All Electricity$146.78$167.6012.4%
      Phone $182.13$163.4211.5%
      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, StatePopulationCost of Living IndexNational Avg.
      Englewood, TN1,78575-25%
      Etowah, TN3,49382-18%
      Tellico Plains, TN87876-24%
      Niota, TN1,07177-23%
      Philadelphia, TN1,02377-23%
      Madisonville, TN4,72779-21%

      Cities with similar population

      City, StatePopulationCost of Living IndexNational Avg.
      Searingtown, NY4,727219119%
      Seven Lakes, NC4,7271099%
      Denver City, TX4,72781-19%
      Penitas, TX4,72875-25%
      Poplar Grove, IL4,72896-4%
      Madisonville, TN4,72779-21%
      Source: The Madisonville, TN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.