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 Nashville, TN cost of living index. Compared to other cities in Tennessee and cities across the country, the cost of living index in Nashville, TN is 98, which is 8% higher than the Tennessee average and 2% 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 Nashville, TN are 7% higher than the average for Tennessee and 4% higher than the rest of the country.
Top Real Estate Agents In Nashville
Paul RussellCENTURY 21 Charlton RealtyView websitePaulI believe that each of my clients has unique priorities and preferences, and as a result I seek to establish close professional relationships with them in order to best serve their individual needs.
Allyson WoosleyParks Real EstateView websiteAllysonBuying a home is one of the most exciting decisons you will ever make! As a real estate agent I want to make your experience as exciting and with as little stress as possible.
Bernie GalleraniRe/Max Choice PropertiesView websiteBernieOur team specializes in working with buyers and sellers just like you. We are well educated on the market and will go above and beyond in helping you find the home of your dreams.
Find Real Estate Listings In Nashville
New Real Estate Listings In Nashville
Did you know?
The cost of living in Nashville is 8% higher than the Tennessee average.
The cost of living in Nashville is 2% lower than the national average.
The cost of housing in Nashville is 5% 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 Nashville, TN Cost of living To Other Cities
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
The salary calculator allows you to compare how much your current salary in Nashville, 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 Nashville, TN, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Nashville, 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 Income
Per Year
Per Month
Max Budget (28% DTI)
Max Budget (36% DTI)
Owners
$67,723
$5,644
$1,580
$2,032
Renters
$34,704
$2,892
$810
$1,041
One can approximate the cost of living and the housing affordability in Nashville, TN by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Nashville, TN have a median income of $67,723. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,580 per month to avoid calamity and poverty. The renters in the city have an income of about $34,704, which would make their monthly maximum allowable rental costs $810.
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
5%
5%
When you are determining the total cost of living in Nashville, 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
Item
Nashville
National avg.
Difference
Haircut
$16.07
$16.09
0.1%
Beauty Salon
$46.12
$37.33
23.5%
Toothpaste
$2.54
$2.45
3.9%
Shampoo
$1.16
$1.00
15.6%
Movie
$11.36
$10.28
10.5%
Bowling
$4.37
$4.93
11.3%
Groceries
Item
Nashville
National avg.
Difference
Ground Beef
$3.88
$3.80
2.0%
Fried Chicken
$1.46
$1.40
4.3%
Milk
$1.82
$2.01
9.2%
Potatoes
$3.61
$3.01
19.9%
Pizza
$9.89
$9.89
0.0%
Beer
$9.09
$8.90
2.2%
Health Care
Item
Nashville
National avg.
Difference
Optometrist
$77.07
$102.16
24.6%
Doctor
$83.40
$108.36
23.0%
Dentist
$71.60
$92.53
22.6%
Ibuprofen
$8.39
$9.28
9.5%
Lipitor
$399.17
$425.82
6.3%
Housing
Item
Nashville
National avg.
Difference
Home Price
$174,600.00
$184,700.00
5.5%
Avg. Mortgage Payment
$1,078.79
$1,202.44
10.3%
Apartment Rent
$902.00
$949.00
5.0%
Transportation
Item
Nashville
National avg.
Difference
Gasoline
$2.11
$2.24
5.9%
Tire Balancing
$52.59
$46.29
13.6%
Utilities
Item
Nashville
National avg.
Difference
All Electricity
$156.45
$165.96
5.7%
Phone
$24.50
$28.68
14.6%
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.
