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.
The above illustration supplies generalized information for the McMinnville, TN cost of living index. Compared to other cities in Tennessee and cities across the country, the cost of living index in McMinnville, TN is 83, which is 8% lower than the Tennessee average and 17% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in McMinnville, TN are 4% higher than the average for Tennessee and 1% higher than the rest of the country.
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Did you know?
The cost of living in McMinnville is 8% lower than the Tennessee average.
The cost of living in McMinnville is 17% lower than the national average.
The cost of housing in McMinnville is 47% lower than the national average.
Tennessee general sales tax is 37% higher than the national average.
Tennessee state income tax is 125% higher than the national average.
Compare McMinnville, TN Cost of living To Other Cities
This is how much you would need to earn in Price difference in compared to
Cost of living index
Goods & Services index
Health care index
Use the salary calculator to compare your current income in McMinnville, TN to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of McMinnville, TN, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the McMinnville, TN salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.
Median Income & Debt-To-Income Ratio
Max Budget (28% DTI)
Max Budget (36% DTI)
How much of your monthly income goes to housing can tell you whether or not you can afford housing in McMinnville, 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 McMinnville, TN homeowners have a median income of $41,479. Using that number, you will come up with a maximum of $968 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $23,306, which means there is a maximum of $544 to be spent on the costs of renting a home or apartment.
Tennessee Sales Tax
General Sales Tax
With Max Surtax
Tennessee Income Tax
Income Tax (Low)
Income Tax (High)
When you are determining the total cost of living in McMinnville, TN you will want to make sure you consider both the Tennessee sales tax and the Tennessee income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Tennessee is 7%, with the highest surtax being 9.75%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Tennessee have a range from 5% to 5%.
Goods & Services
Avg. Mortgage Payment
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.