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.
An overview of the general cost of living index for Morristown, TN is displayed above for your reference. Residents in Morristown, TN enjoy a cost of living index of 87. This index is 4% lower than the Tennessee average, and 13% lower than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Morristown, TN, the average cost of goods and services is 2% higher than it is in Tennessee, and it is 1% lower than the national average.
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The cost of living in Morristown is 4% lower than the Tennessee average.
The cost of living in Morristown is 13% lower than the national average.
The cost of housing in Morristown is 38% 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 Morristown, 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
The salary calculator is used in order to provide a comparison of your current salary in Morristown, TN to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Morristown, TN, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Morristown, TN salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.
Median Income & Debt-To-Income Ratio
Max Budget (28% DTI)
Max Budget (36% DTI)
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Morristown, TN as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Morristown, TN homeowners, is $46,773. This would allow for a maximum of $1,091 per month to be spent on housing costs. For renters, the median monthly income is $21,671 which would result in a maximum of $506 to be spent on rental costs.
Tennessee Sales Tax
General Sales Tax
With Max Surtax
Tennessee Income Tax
Income Tax (Low)
Income Tax (High)
When considering the overall cost of living expenses in Morristown, TN, it's important to take into account the sales tax for Tennessee, as well as the rate for income tax in Tennessee. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Tennessee is 9.75%, and the sales tax in the state of Tennessee is 7%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Tennessee starts from 5% and goes up 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.