Rockwood, Tennessee Cost Of Living

Buy Rent

A+

Overall 25%

Goods & Services 15%

Housing 54%

Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Rockwood	Tennessee	National
Cost of living	75	89	100
Goods & Services	85	93	100
Groceries	87	94	100
Health care	92	91	100
Housing	46	80	100
Transportation	83	88	100
Utilities	96	92	100

Key findings

The cost of living in Rockwood is 16% lower than the Tennessee average
The cost of living in Rockwood is 25% lower than the national average
Rockwood housing is 54% lower than the national average
Tennessee general sales tax is 37% higher than the national average
Tennessee state income tax is 59% lower than the national average

Most Affordable Places to Live in and Around Rockwood

See all the best places to live around Rockwood

Compare Rockwood, TN Cost of Living

See all Rockwood poll results

The best places in Tennessee

Here are the best places to live in Tennessee

10 best cities to buy a new house in Tennessee

Check out the 10 safest cities in Tennessee

See the best places to live in & around Rockwood

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

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$41,555	$3,463	$970	$1,247
Renters	$15,129	$1,261	$353	$454

The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Rockwood, TN, as well as what the overall cost of living might be. 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 payments and not more than 36 percent of income on all expenses and debts. In Rockwood, homeowners have a median income of $41,555. Using that number, a maximum of $970 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $15,129, which means there is a maximum of $353 to be spent on the costs of renting a home or apartment.

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	1%	1%

Goods & Services

Item	Rockwood	National avg.	Difference
Haircut	$15.40	$20.27	24.0%
Beauty Salon	$38.07	$40.39	5.8%
Toothpaste	$1.35	$2.36	42.6%
Shampoo	$0.85	$1.08	21.0%
Movie	$10.36	$10.99	5.7%
Bowling	$21.40	$15.49	38.1%

Groceries

Item	Rockwood	National avg.	Difference
Ground Beef	$3.88	$4.30	9.8%
Fried Chicken	$0.98	$1.40	30.0%
Milk	$1.88	$2.20	14.5%
Potatoes	$3.02	$3.22	6.2%
Pizza	$9.99	$10.74	7.0%
Beer	$9.91	$9.60	3.3%

Health Care

Item	Rockwood	National avg.	Difference
Optometrist	$91.00	$109.73	17.1%
Doctor	$103.60	$118.34	12.5%
Dentist	$90.27	$100.94	10.6%
Ibuprofen	$9.19	$9.93	7.5%
Lipitor	$494.20	$469.53	5.3%

Housing

Item	Rockwood	National avg.	Difference
Home Price	$73,200.00	$184,700.00	60.4%
Avg. Mortgage Payment	$899.42	$1,229.62	26.9%
Apartment Rent	$564.00	$949.00	40.6%

Transportation

Item	Rockwood	National avg.	Difference
Gasoline	$2.52	$2.71	7.2%
Tire Balancing	$34.39	$51.86	33.7%

Utilities

Item	Rockwood	National avg.	Difference
All Electricity	$158.33	$170.84	7.3%
Phone	$188.34	$187.18	0.6%

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.

Nearby cities with low cost of living

City	Population	Cost of Living Index	National Avg.
Oakdale, TN	194	75	25.4%
Crab Orchard, TN	758	81	18.6%
Harriman, TN	6,223	76	24.0%
Midtown, TN	1,539	77	23.2%
Spring City, TN	2,512	76	23.5%
Rockwood, TN	5,443	75	25.3%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Big Flats, NY	5,446	97	2.8%
Old Bethpage, NY	5,439	175	75.5%
Willard, MO	5,447	88	12.1%
Litchfield Park, AZ	5,449	115	14.6%
West Bountiful, UT	5,436	107	7.2%
Rockwood, TN	5,443	75	25.3%

Source: This data reflects 2021 and was released from C2ER in January, 2022; this is the most current data available.