Summary about cost of living in Nashville, TN, United States: Family of four estimated monthly costs are 3,879$ without rent. A single person estimated monthly costs are 1,098$ without rent. Nashville is 22.04% less expensive than New York (without rent).
What salary do you need to live in Nashville?
Typical Expenses
| 1 ADULT | ||
|---|---|---|
| 0 Children | 1 Child | |
| Required annual income after taxes | $31,555 | $55,015 |
| Annual taxes | $5,116 | $8,919 |
| Required annual income before taxes | $36,671 | $63,934 |
Is living in Nashville expensive?
Nashville is becoming more expensive, and a recent study puts a cost to living in Music City. Nashville clocked in at No. 53 in a ranking of the 75 most populous U.S. cities based on monthly cost of living. The study, undertaken by moving research company Move.org, ranked the cities from least to most expensive.
Is Nashville an expensive city to live in?
Nashville, the priciest city in the state, is home to Tennessee’s most expensive real estate values. It costs an average of $745,800 for a home in the city’s most expensive 37215 ZIP code, including Green Hills and Forest Hills addresses.
Can I afford to live in Nashville?
According to the U.S. Department of Housing and Urban Development, affordable housing is units available for people who make up to 80% of the area median income. For a family of four in Nashville, that would be $67,450 or less.
What is a good hourly wage in Tennessee?
Hourly Rate Salary in Tennessee
| Annual Salary | Hourly Wage | |
|---|---|---|
| Top Earners | $58,754 | $28 |
| 75th Percentile | $45,593 | $22 |
| Average | $37,551 | $18 |
| 25th Percentile | $27,262 | $13 |
What to know before moving to Nashville TN?
13 Things to Know Before Moving to Nashville
- It’s Called Music City for a Reason. If you like live music, you’ll love Nashville.
- It’s Tough to Be a Vegetarian.
- There’s More to the Arts Scene than Music.
- There’s a Parthenon.
- It’s a Tech Hub.
- Whiskey is Serious Business.
- So is Beer.
- There’s History All Around You.
Is Nashville an affordable place to live?
The cost of living in Nashville is 3% lower than the national average. Housing prices are 9% lower than the national average and utility costs are 10% lower. Nashville has a low median monthly rent cost but the city is getting more expensive to live in as the years go by.
How much is a gallon of milk in Nashville?
around $3.30
On average, a gallon of milk will cost you around $3.30 in Nashville.
Is Nashville more expensive than Chicago?
The cost of living in Nashville, TN is -17.2% lower than in Chicago, IL. You would have to earn a salary of $49,659 to maintain your current standard of living. Employers in Nashville, TN typically pay -12.4% less than employers in Chicago, IL.
Why is it so cheap to live in Tennessee?
This is mostly due to the majority of the state being in rural areas and the lack of a state income tax. While cities such as Nashville have high housing costs, this is balanced by below average costs of transportation, healthcare and child care.
Why Nashville is so expensive?
Why Is Nashville Getting So Expensive? In Nashville, the demand for homes has risen at a rapid pace due to a low inventory and high price. Low interest rates, a low inventory, and a shift in demographic requirements have been contributing to a rise in Nashville home prices.
Is Nashville more expensive than Houston?
The cost of living in Nashville, TN is 3.4% higher than in Houston, TX. You would have to earn a salary of $62,050 to maintain your current standard of living. Employers in Nashville, TN typically pay -9.3% less than employers in Houston, TX.
Is rent expensive in Nashville?
The average highest rent is just over $2300 in downtown Nashville. And the lowest rent average is about $1,079 in the Bordeaux-Whites Creek area. The data also showed that rent had increased almost 13.92% from the first quarter of 2021. And the average rent price is $1530.
How much does rent normally cost?
The average rent for a house in the United Kingdom (UK) increased across most regions in 2021. Greater London was not only the region with the priciest rent at 1,752 British pounds, but also the region with the highest annual increase.
Why is rent so high in Tennessee?
Joel Sanders with Apartment Insiders says the average price for an apartment in Nashville has reached a new record high — more than $1,500. Just four years ago, it was around $1,150. Sanders says the rent increases are driven by a lack of apartment supply, with builders not constructing new apartments fast enough.
How much do jobs pay in Tennessee?
“We are pleased to report that the average wage for all occupations in Tennessee increased $0.30 cents per hour from $19.55 to $19.85/hourly,” Commissioner Burns Phillips said. Increase in the state’s average hourly wage represents a yearly average wage of $41,296.00.
How much money do you need to live comfortably in Tennessee?
–A study by personal finance company Go Banking Rates finds in order to live comfortably in Nashville, residents need to make $80,548 per year. The study examined housing costs, the price of necessities such as food and healthcare, and average incomes among America’s 50 largest cities.
What is Tennessee minimum wage?
$7.25 per hour
Tennessee’s state minimum wage rate is $7.25 per hour. This is the same as the current Federal Minimum Wage rate. The minimum wage applies to most employees in Tennessee, with limited exceptions including tipped employees, some student workers, and other exempt occupations.
Why are Californians moving to Tennessee?
Realtor Emily Learned of Village Real Estate agreed that clients have most often cited more conservative politics as the top reason for moving to Tennessee from California. She said clients have also voiced concerns about fires in and around their neighborhood in California.
Does Nashville have snow?
Nashville has a typical four-month winter, which starts in December and runs through to March. The most snowfall in Nashville falls in January and February, though flurries may be recorded in December and March. Throughout winter, Nashville is a freezing place, with temperatures often falling below the freezing mark.
