Rockwood, TN Cost Of Living

Rockwood 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.
Index	Rockwood	Tennessee	National
Cost of living index	74	90	100
Index	Rockwood	Tennessee	National
Goods & Services index	86	97	100
Groceries index	86	93	100
Health care index	87	89	100
Housing index	46	80	100
Transportation index	84	90	100
Utilities index	90	95	100

Displayed above is a general overview of the Rockwood, TN cost of living index. The overall cost of living index in Rockwood, TN is 74, which is 18% lower than the Tennessee average and 26% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Rockwood, TN are 12% lower than the Tennessee average and 15% lower than the national average.

Did you know?

The cost of living in Rockwood is 18% lower than the Tennessee average.
The cost of living in Rockwood is 26% lower than the national average.
The cost of housing in Rockwood is 54% 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.

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Salary Calculator

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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 is meant to help you compare your salary in Rockwood, TN to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Rockwood, TN, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Rockwood, TN salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

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

How much of your monthly income goes to housing can tell you whether or not you can afford housing in Rockwood, 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 Rockwood, TN homeowners have a median income of $41,555. Using that number, you will come up with a maximum of $970 per month that can be spent on the cost of housing. 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	5%	5%

For those who live in Rockwood, TN and want to know what the true cost of living is, they ought to look at both the Tennessee income tax rate and the Tennessee sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Tennessee, the sales tax is 7%, while the most you'll pay in surtax is 9.75%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Tennessee, the income tax rate ranges between 5% to 5%.

Goods & Services

Item	Rockwood	National avg.	Difference
Haircut	$14.00	$16.09	13.0%
Beauty Salon	$36.80	$37.33	1.4%
Toothpaste	$1.55	$2.45	36.5%
Shampoo	$0.83	$1.00	17.0%
Movie	$9.78	$10.28	4.8%
Bowling	$4.30	$4.93	12.8%

Groceries

Item	Rockwood	National avg.	Difference
Ground Beef	$3.37	$3.80	11.3%
Fried Chicken	$0.96	$1.40	31.5%
Milk	$1.80	$2.01	10.5%
Potatoes	$2.48	$3.01	17.6%
Pizza	$8.99	$9.89	9.1%
Beer	$8.96	$8.90	0.7%

Health Care

Item	Rockwood	National avg.	Difference
Optometrist	$88.00	$102.16	13.9%
Doctor	$81.45	$108.36	24.8%
Dentist	$82.40	$92.53	10.9%
Ibuprofen	$8.03	$9.28	13.4%
Lipitor	$435.26	$425.82	2.2%

Housing

Item	Rockwood	National avg.	Difference
Home Price	$73,200.00	$184,700.00	60.4%
Avg. Mortgage Payment	$889.43	$1,202.44	26.0%
Apartment Rent	$564.00	$949.00	40.6%

Transportation

Item	Rockwood	National avg.	Difference
Gasoline	$2.03	$2.24	9.7%
Tire Balancing	$32.76	$46.29	29.2%

Utilities

Item	Rockwood	National avg.	Difference
All Electricity	$151.59	$165.96	8.7%
Phone	$25.23	$28.68	12.0%

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, State	Population	Cost of Living Index	National Avg.
Oakdale, TN	194	74	-26%
Crab Orchard, TN	758	80	-20%
Harriman, TN	6,223	75	-25%
Midtown, TN	1,539	76	-24%
Spring City, TN	2,512	81	-19%
Rockwood, TN	5,443	74	-26%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Big Flats, NY	5,446	95	-5%
Willard, MO	5,447	87	-13%
Old Bethpage, NY	5,439	172	72%
Litchfield Park, AZ	5,449	120	20%
West Bountiful, UT	5,436	104	4%
Rockwood, TN	5,443	74	-26%

Source: The Rockwood, TN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.

Rockwood, TN Cost of Living