Remember, everything is negotiable in real estate. Williamson County cost of living is 139.4 100=National Average AVERAGE RENT BY BEDROOM SIZE * In other words, on average, housing, food and groceries, transportation, utilities, healthcare and miscellaneous expenses such as clothing, service, and entertainment are less than the national average. With a population of 9,561, the median household income is $42,255. Jackson, Tennessee, and surrounding Madison County are located 90 miles northeast of Memphis . Featured Review: Parent says My son transferred from another private school to Lausanne in the 8th grade. Senior: I've been at Briarcrest for 15 years, and I'm very grateful for it. Tennessee cost of living is 89.9 100=National Average AVERAGE RENT BY BEDROOM SIZE Rent per Month Tennessee United States Studio 1 Bedroom 2 Bedrooms 3 Bedrooms 4 Bedrooms 0 500 1000 1500 2000 2500 Making sure you have inspectors and independent contractors to inspect the house for any major issues can help save you a headache in the long run. The highly ranked Vanderbilt University estimates its tuition and fees to total$84,412. Jackson-Madison County: 86.3: 95.9: 73.6: 96.6 . Tennessee jobs have increased by 1.8%. Chattanooga is a very affordable destination, not just in Tennessee but the entire South. We have a Dollar Store and a gas station. Knoxville, TN does not have a major sports team, but dont worry, check out local colleges and high school sports schedules. Featured Review: Current Resident says Pickett County is a very small town on the border of TN and KY. When. Niche User: Scott county, TN is a great place in so many ways. Tennessee is packed with a country and blues culture thats centered around Nashville and Memphis. Youll find the median home value is around $150,000 and monthly apartment rentals are around $818 per month. The woman was pronounced dead a day later. Alcoa is the cheapest place to live in Tennessee. Working with an adviser may come with potential downsides such as payment of fees (which will reduce returns). It is an excellent place to raise a family especially with superb quality of the local school district.. Current Resident: Pickett County is a very small town on the border of TN and KY. There is no obligation to sign up with one of our network Realtors, but when you can potentially save thousands on commission why wouldnt you? #7 Counties with the Lowest Cost of Living in Tennessee. Make sure you can comfortably afford not just your mortgage but also any additional expenses beforebuying your first home. It is nice and quiet and you have plenty of space. Want to pursue higher education in Tennessee, for yourself or your child? According to the 2021 Cost of Living Index, Tennessee ranks sixth place for lowest cost of living in the United States. The federal minimum wage is $7.25 per hour while Tennessee's state law sets the minimum wage rate at $7.25 per hour in 2023. With individual food prices, the most influential factor is where you live. Bay County's cost of living results in steep bills. When someone is in trouble everyone comes together to help. Making sure you have inspectors and independent contractors to inspect the house for any major issues can help save you a headache in the long run. I wouldn't move away from this town for nothing. Its standout quality of life and access to talent make it a hotspot for entrepreneurs. The median home value is around $146,500 and monthly apartment rentals are around $700 per month. In Nashville, residents can expect to pay $159.32, while $145.29. Knoxville, Tennessee. My overall experience in this area so far has been great. Tennessee is among the most affordable 10 states, at No. The schools are safe and its such a beautiful town. Dont discount using a Realtor because you think you must pay 6% to 10% in commissions. With a score of 88.7, Tennessee comes in well below the national average. 30 Niche users give it an average review of 2.9 stars. Featured Review: Niche User says There's always room for improvement. There needs to be more of a middle ground where students can still learn, but not be babied or lose sleep. Read 240 reviews. Featured Review: Current Resident says Great community in which to live and raise a family in. Current Resident: I am so grateful to live in Decatur County and to attend the University of Tennessee Martin, Parsons Center. We do not hear many crime reports happening in the area where I live.. Current Resident: I have lived in this area my entire life. #16 Counties with the Lowest Cost of Living in Tennessee. The city has a bustling nightlife and an impressive arts district. There are a variety. Parent: I was born and raised here. This cost is ranked NO. When moving to a distant place, help your children learn about the new area. Here are some options. I come home from school or vacations to a welcoming feeling all over.. Current Resident: Obion County is a small county that will make anyone feel welcome. This is not an offer to buy or sell any security or interest. 3 Niche users give it an average review of 4 stars. Cody Tromler is the Content Marketing Manager for UpNest.com. According to the 2021 Cost of Living Index, the aggregated score for healthcare coverage is 1.9 points higher than the national average of 100. Why has the school not been shut down? 5 Niche users give it an average review of 3.2 stars. However, this tax was repealed on January 1, 2021. The school was built in the 70's and has not been renevated since! I come home from school or vacations to a welcoming feeling all over. Read 11 reviews. Only 6% said their income is going up faster than the cost of living." The poll comes amid soaring inflation and gas prices. The university estimates that in the 2019-20 academic year it. Tennessee has traditionally been one of the more affordable states in the U.S. to live in across the board but the real estate costs have increased dramatically over the past several years. Thankfully, the average cost, per month, of a fitness club in major cities throughout Tennessee, is relatively low: Nashville: $74.86 Memphis: $26.50 Knoxville: $31.43 Chattanooga: $27.22 You can save on costs by taking up other outdoor activities such as running, hiking, biking, and walking. In other words, in Chapel Hill, your costs for basic consumables of living would be 15% higher than the U.S. national average. This is a very small town where everyone knows everyone. Tennessee has no state-based minimum wage. #18 Counties with the Lowest Cost of Living in Tennessee. The average cost of internet access in the U.S. is $66.20 per month. With the small population of 65,600, the city features small, tight-knit communities that make living there enjoyable. The base sales tax rate in Tennessee is 7% but specific jurisdictions may levy an additional 1.50% to 2.75% surcharge. It is a wonderful school, very diverse, and numerous class offerings to choose from. The small town is great for knowing everyone around you. Everyone knows most everybody and there is always a helping hand. Offer too little and the buyer may outright refuse and will greatly decrease your chances of landing the home that you want to purchase. Home sellersmay also work with their agents on bonuses and incentives. Its the fourth largest city in the state, with a population of 182,800. The result is this list of the 10 best places to retire in Tennessee. While typical expenses in small towns and rural areas are very affordable, the Tennessee cost of living tends to be considerably higher in popular urban centers like Nashville or Memphis. Some employers have company provided day care centers that let you bring your child to work with you and receive care on site. Everybody knows everybody and acts very neighborly. Chattanooga, TN-GA; Clarksville, TN-KY The median home cost across the state is $164,500. Median home price is $100,300. Its also a highly picturesque locale, between the Appalachian mountains and Waldens Ridge. You can show this tosellerswhen youre looking at homes, to let them know that youre able to secure financing. Healthcare costs in Tennessee are slightly above the national average. Tennessee has plenty of attractions to keep tourists and residents happy. Miscellaneous Cost of Living Facts for Tennessee. But remember, this average is accounting for home sales across urban and rural Tennessee. All Rights Reserved. You should evaluate the options based on your usage and preferences and pick the best fit for your needs. Before you look at homes in Tennessee, you need to know whether you can actually afford to own one. it's a small town that makes everyone feel at home. Read 5 reviews. 15 Niche users give it an average review of 3.2 stars. Real estate agent commission is typically split 50/50 between the agents who represent thebuyerandseller. You also need to be aware of the market surrounding the house. With award-winning barbecue, family attractions, outdoor adventures and more, you can choose your own Tennessee vacation. Tennessee is an attractive state for buyers who want to invest in an appreciating home. For example, a state with an index score of 90 has a cost of living 10% lower than the national average. With a population of 150,000, the city is home to Austin Peay State University. We have little to no crime compared. Niche User: I love my home town. Demands for a living wage that is fair to workers have resulted in numerous location-based changes to minimum wage levels. For example, offering a $10,000 bonus for a full price offer which closes within 30 days, or contributing 3% of the purchase price toward buyers closing costs. 11 Niche users give it an average review of 3.7 stars. Wall Street Cheat Sheet named Tennessee as the state with the second lowest cost of living in the nation. View future changes in the minimum wage in your location by visiting, If you move from Chicago IL, Dallas, TX, or Miami, FL, the percent increase of your, If you move from New York, NY, San Francisco, CA, or Washington, DC, the percent reduction of your. If you dont need the agent to host open houses, and they can secure abuyerdirectly, without having to split with another agent, then they may offer a discount relative to their savings. Tennessees sales tax ranges from8.5% to 9.75%, depending on the county in which youre shopping. Looks for areas of Knoxville, Tennessee where there is a large student population. Of that income, about $2,994, or 13.4% goes to food. Copyright 2023 TNECD. Thats pretty impressive when you consider the national average is around $45,500. So, if youre moving from another state, keep in mind that interim jobs in hospitality or retail may not pay as much as in other parts of the country. Bidding too high will probably get you the house quicker, but you may end up paying over market value for the home and will probably have to recoup that cost before you can be in a suitable position to generate equity into the home. With individual food prices, the most influential factor is where you live. A shift towards, Handling involuntary termination is a likely occurrence for human resources managers and, Return better results with Payscale job search, Compare real living costs across different states, Consider potential directions your career can take, Calculate the 20-year net ROI for US-based colleges, Are you the kind of person who struggles to get a handle, Learn where the best career earners attended college, Streamlined solutions for every step of the compensation management journey, Continuously updated compensation datasets from Payscale and our partners, Flexible, customizable services and support for Payscale customers, End comp guesswork with our free job-pricing tool, From collection to validation, our data methodology delivers certainty, Meet the leaders dedicated to empowering better conversations around pay, Track and compare wage-growth by city, industry, company size, and job category, Access helpful tools and insights for career planning and salary negotiation, Explore real-world career trends and advice from the leaders in compensation, Uncover detailed salary data for specific jobs, employers, schools, and more, Take our salary survey to see what you should be earning. Patrick . The median home value in Farragut is $376,300, while the median household income is $104,715. Your property taxes will be added to your monthly mortgage payment. 4 Niche users give it an average review of 2.5 stars. #8 Counties with the Lowest Cost of Living in Tennessee. Pay, Whether you are hiring a single employee , or an entire department of, The labor market is a strange place right now. For example, offering a $10,000 bonus for a full price offer which closes within 30 days, or contributing 3% of the purchase price toward buyers closing costs. Everybody knows everybody and acts very neighborly. In fact, Davidson County's property taxes increased 34% recently. If you want to camp in the park, youll pay between$14 and $23 per night. #19 Counties with the Lowest Cost of Living in Tennessee. Mortgage payments aregenerally higherthan rent in most states. 46 nationally. Students are spending 30% of their days in a building with unstable walls, 40 year old heating andWhy has the school not been shut down? #17 Counties with the Lowest Cost of Living in Tennessee. Fee Structure Extra: Entry Fee Cost : $1500. My student with learning differences has not just survived school, but has excelled at Currey Ingram. The school was built in the 70's and has not been renevated since! Located just outside of Memphis in Shelby County, Bartlett is close to a big city yet far enough away to enjoy some peace and quiet. The median home value in Tennessee is $419,994, according to Redfin. You also need to be aware of the market surrounding the house. Remember, everything is negotiable in real estate. Whether you're planning for an upcoming move or just curious about the cost of living in other cities, the PayScale Cost of Living Calculator is the place to begin your research (or daydreaming). The estimated average annual cost for child care in Knoxville, Tennessee (based on state average), is $5857. If youre thinking of moving to Tennessee, youve probably wondered about how The Volunteer State compares to the rest of the country in basic cost-of-living expenses. The rate is higher for construction (6.0%). 36 Niche users give it an average review of 3.2 stars. Get started! Local taxes are set by the local government. Want to know more? #9 Counties with the Lowest Cost of Living in Tennessee. The cheapest places to live in Tennessee rival that of any state. Whiskey fungus on tree branches in Lincoln County, Tenn. I live in the Washburn area of Grainger County area. The population is very diverse and this is mostly because of the college. Chattanooga residents pay slightly less, as a gallon of milk there is $3.09 and a dozen eggs is $1.92. A cost of living index above 100 means Williamson County, Tennessee is more expensive. The lender will also issue a pre-approval letter. The way school coding works is based on the year made or renavated. Sports is a big part in Henry County. Data extracted on: March 02, 2023 Source: U.S. Bureau of Labor Statistics Note: More data series, including additional geographic areas, are available through the "Databases & Tables" tab at the top of this page. If youre ready to find an advisor who can help you achieve your financial goals. Its important to be aware of these issues, as it may cause a headache further down the road after youve purchased the house. Make sure you take this into account as you plan your overall. Its more than likely that the seller will come back to you with a counteroffer. It depends on where youre living. We also explored access to recreational activities to make sure you have the chance to have fun and stay active in retirement. It very welcoming i think. Assisted Living Starting At: $3300/month. Residents have been complaining about the ethanol-fueled fungus from a Jack Daniel's distillery in neighboring Moore County. The city is also home to Middle Tennessee State University. Cost of living is rising. You'll rarely see a person in need that doesn't get it. Admission to the National Civil Rights Museum in Memphis is $15 for adults. In the quaint historic downtown area of Rockwood you will find a fascinating museum and event facility, antique & specialty shops, an ole-timey soda fountain, and picturesque scenery all within a city block. It is possible that electric rates may fluctuate depending on consumption rates, government regulations and even the weather. The cost of utilities is one of the few indicators where Tennessee is more expensive than the national average. Its more than likely that thesellerwill come back to you with a counteroffer. The average costs of living in Tennessee is relatively low. We do not manage client funds or hold custody of assets, we help users connect with relevant financial advisors. Admission to Great Smoky Mountains National Parkis free. The schools are safe and its such a beautiful town. This means that if you work in Tennessee, your paycheck will be free of taxes other than the federal income taxes and the soon to be abolished (2022) hall tax, which is a tax on dividends and interest. Average Retirement Savings: How Do You Compare? As of right now, the future of Camden is bright. The town is situated at the base of Walden Ridge, with a population of 5,423. Listed above are the most affordable places to live in Tennessee with a population of more than 5,000 people. She loves going to school every day! The assumption is the sole provider is working full-time (2080 hours per year). Its important to be aware of these issues, as it may cause a headache further down the road after youve purchased the house. For the future generations, I believe there will be more job opportunities and a better education system. Tennessee homes have seen good appreciation rates recently. In Memphis, you can expect to shell out (no pun intended) about $2.48, whereas in Chattanooga, the same pack of eggs would only cost $1.92. The Hunter Museum of American Art in Chattanooga and the Frist Center for Visual Arts in Nashville are also $15. UTILITIES 92.1 The beautiful location makes it a great place for outdoor activities, photography, and adventure. No matter how much you might think a house is perfect for you, if you cant comfortably afford it, its time to think twice. If you need an unlimited internet plan, expect to pay an average price of $68.95 per month. With our ideal location and growing economy, Tennessee offers an unmatched climate for your business to flourish. Clarksville has consistently been chosen as one of Montgomery Countys best cities to live. Further, the state does not tax personal income, only dividends and interest income. Often, if the seller is motivated enough to sell the house, they might work with you and include fixes and light renovations as a stipulation in the contract for the sale of the house. The facilities are excellent! A few desirable areas, like Nashville, are slowly becoming more expensive. Given that the average listing price for a home in America is well above $200,000, Tennessee is one of the most affordable places for homebuyers to make a real estate purchase. Alcoa is situated near the base of the Appalachian range and has easy access to various highways. According to the U.S. Energy Information Administration (EIA), the average monthly energy bill in Tennessee is $123.30, which is slightly above the national average. SmartAsset Advisors, LLC ("SmartAsset"), a wholly owned subsidiary of Financial Insight Technology, is registered with the U.S. Securities and Exchange Commission as an investment adviser. So although the base state sales tax is 7%, counties impose extra rates that range from 1.5% to 2.75%. Some employers offer employees reduced fee bus or transit passes, so check that out with your employer. The town is home to around 13,000 people. 240 Niche users give it an average review of 4.5 stars. Dont discount using a Realtor because you think you must pay 6% to 10% in commissions. *Median Apartment Rent numbers refer to two-bedroom apartments in the surrounding metro area. The only thing about Briarcrest I would change is some classes are not challenging enough. Adults find that moving can sometimes be an emotional and stressful experience. If you fearstudent loans, there are less expensive options in the Volunteer State. Tennessee has plenty of attractions to keep tourists and residents happy. It is the home of the worlds biggest fish fry. They truly go the extra mile and beyond! The median home value in Alcoa is about $146,500. Thats well below the U.S. average of $334,000 for new homes and $260,000 for previously owned properties. According to a study bythe Health Care Cost Institute, prices in the Nashville metro area sit at 7% above the U.S. median, whereas the Chattanooga metro area is 4% below that mark. Renters pay a median price of around $700 per month. The absence of state income tax will make your take-home pay higher and provide more income for the basic, Tennessee is ranked number 36 out of all states in overall healthcare access and affordability. Tennessees tax regime is an interesting case. Judge sets bond for 76-year-old woman accused of killing terminally ill husband. Visit theTennessee Department of Revenueto obtain more information about Tennessee taxes. We are a community minded people loving our environment, culture, and progress. Tennessee is famous for its country music festivals and iconic blues culture. Not only in proper academics, but social skills and awareness, community service, time management, organization, responsibility, integrity , independence, physical fitness, teamwork, and so much more. The teachers at Lausanne truly are passionate about their work and they've taught my son how to think critically, advocate for himself and others, and how to become a better citizen. We are so excited to see how the skills she has learned at Currey Ingram serve her in college and beyond. Read 13 reviews. These may be paid by the seller, or out of the listing agents commission. The cost of electricity in Tennessee has gone down by 1.28% in the past year. Your money will go a lot farther in Tennessee. Remember, this breakdown is only a guide where you buy your home is the biggest determinant of your cost-of-living expenses. The only thing I can say about Pickett County is how AWFUL their school system is. Portland is a tight-knit, small-town community with reasonable access to plenty of bigger cities. You could save up to $1,000 per year, depending on your location, by using public transport instead of driving. For example, if you are a real estate investor selling and buying 10 homes a month, an agent might be willing to work a 50% off deal in exchange for the volume. #3 Counties with the Lowest Cost of Living in Tennessee. 6, according to MERIC data gathered in the third quarter of 2021. 7 Niche users give it an average review of 2.9 stars. There isn't anything like growing up in a small town with a tight-knit community.The overall criminal activity is low, and Camden is a great. Current Resident: Great community in which to live and raise a family in. Being here has allowed me to pursue the career that I originally desired, teaching.. Parent: My son transferred from another private school to Lausanne in the 8th grade. MISCELLANEOUS GOODS AND SERVICES 95.1. Some colleges and universities with Childhood Education programs also may have day care centers available at reduced costs, so you should explore those possibilities to see if you can reduce your child care expense. Tennessee cities and counties have the option of imposing an additional local option sales tax. Rockwood is also home to the Annual Thunder Road Festival that features live music, food and an amazing auto and motorbike show. Georgia has a plethora of local banks where new residents can move their money to. Many residents consider it a military town and the base provides employment. To calculate the most affordable cities in Tennessee, the cost of living index for each city was calculated, then compared to the national average of 100. A regional outbreak of severe thunderstorms, with damaging gusts of up to 75 miles per hour, hail as large as billiard balls or larger, and several tornadoes . Remember buyers: you need to know what a home will require in order for it to be up to your expectations of build quality. According to one estimate, the cheapest county to live in isVan Buren Countywith a median home price of $98,000. I live in the Washburn area of Grainger County area. While youll find million-dollar mansions near Nashville and elsewhere in the state median housing prices are quite affordable. Yes, it is very small; blink an eye lid and you will pass it. Its up to you whether you can comfortably accept their counter, respond with your own counteroffer, or walk away. Offer too little and thebuyermay outright refuse and will greatly decrease your chances of landing the home that you want to purchase. Overall, my experience living in Camden has been bittersweet. Read 28 reviews. If youve run the numbers and decided that yes, you can afford homeownership, your next step is to meet with a mortgage lender. #20 Counties with the Lowest Cost of Living in Tennessee. It's a far, safe, and quite community that rarely calls for police assistance. Read 9 reviews. It is home to Martin Methodist College. You can enjoy a wide range of delicious cuisines, plus the annual Main Street JazzFest. It boasts the fifth lowest cost of living of any state in the country - 10.2% below the national average in 2017. This generally ranges from a 50/50 to as high as a 90/10 split.