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.
Is Tennessee a cheap state to live in?
In short, Tennessee enjoys an especially low cost of living. According to a study conducted by the World Population Review, in 2021 Tennessee is the country’s sixth cheapest state to live in. That’s pretty standard for The Volunteer State, where living costs have historically landed it in the top ten for affordability.
How much money do you need to live in Tennessee?
Typical Expenses
| 1 ADULT | 2 ADULTS (BOTH WORKING) | |
|---|---|---|
| 0 Children | 3 Children | |
| Required annual income after taxes | $27,652 | $83,941 |
| Annual taxes | $4,483 | $13,608 |
| Required annual income before taxes | $32,135 | $97,549 |
Is living in Tennessee worth it?
Over the last 20 years, Tennessee has enjoyed an impressive rate of population growth. Low tax rates, living costs, and high quality of life have kept people on the move to Tennessee. It’s not a perfect place, but for the price, Tennessee is about as good as one can get.
What state has lowest cost of living?
Mississippi
Mississippi. Mississippi has the lowest cost of living in the United States. With a cost of living index of 83.3, expenses are nearly 17% less than the national average. Mississippi’s housing costs are the lowest in the nation.
Is it cheaper to live in Florida or Tennessee?
Tennessee is 5.5% cheaper than Florida.
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 is considered low income in Tennessee?
What is considered low income? What is considered an affordable housing cost* for families? A full-time employee, for example, earning the minimum wage of $7.25/hour in Tennessee (last increase was in 2008) earns $15,080/year – considered very low income if they are a single person household.
Is rent expensive in Tennessee?
If you’re looking to rent, Tennessee is about as good an option as you’ll find. According to Apartment List data from 2019, a two bedroom apartment in the Volunteer State goes for just $854 a month, as compared to the $1,175 national median.
What are the cons of living in Tennessee?
List of the Cons of Living in Tennessee
- The summers can be brutal when you start living in Tennessee.
- Tennessee barbecue is not for the faint of heart.
- It can be challenging to make new friends when living in this state.
- The growth levels in Tennessee’s cities can be challenging as well.
What are the dangers of living in Tennessee?
Be careful of the dangers, y’all – we warned ya. Without further ado, here are some of the biggest risks of living in Tennessee.
Here Are The 9 Biggest Risks Living In The State of Tennessee
- Rapid weather changes.
- Humidity.
- Tornados.
- Stars in your eyes.
- Rabid football fans.
- Too much of a good thing.
- Flooding.
- Snakes!
Is Tennessee racially diverse?
“White alone” now includes 70.9% of Tennessee’s population, down from 75.6% in 2010. “Black or African American alone” population shares fell from 16.5% to 15.7% over the same period. “Hispanic or Latino” ethnicity grew by 2.3 percentage points to 6.9% and remained the state’s third largest race or ethnic group.
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.
Is it cheaper to live in Georgia or Tennessee?
Tennessee is 5.3% cheaper than Georgia.
Does Tennessee get snow?
Generally, Tennessee sees snow during January and February. Although it isn’t always guaranteed, we’d say you have a very good chance of seeing flurries during this period if you’d like to book a plane ticket ASAP. However, it can technically snow in Tennessee anytime between December and April.
Where is the cheapest place to live in Tennessee?
The 5 Most Affordable Places to Live in Tennessee
- Murfreesboro.
- Smyrna.
- Johnson City.
- Clarksville.
- Chattanooga.
What is the best state to live in financially?
Overall ranking of best states for your finances
| Rank | State | Score |
|---|---|---|
| 1 | Tennessee | 4.33 |
| 2 | Utah | 4.45 |
| 3 | Idaho | 4.59 |
| 4 | Arkansas | 4.91 |
How can I live for free?
14 Ways to Live Rent-Free
- Teach English Abroad.
- Volunteer with Peace Corps or AmeriCorps.
- Become an Au Pair.
- Trade Services for Free Rent.
- Become a House Sitter.
- Become a Resident Assistant at Your College.
- Find a Job That Provides Housing.
Are taxes low in Tennessee?
New data from the Census Bureau appear to lend support to Tennessee’s reputation as a “low tax state,” ranking it 49th nationally in taxes collected as a share of personal income.
Do you pay taxes in TN?
There is no income tax on wages in this state, making it one of the states with the lowest taxes. Therefore, the Tennessee income tax rate is 0%. It does have, however, a flat 1 to 2% tax rate that applies to income earned from interest and dividends. Tennessee levies tax on other items, outside of income.
How is the winter in Tennessee?
Except for in the mountainous east, Tennessee’s winters are pretty mild. Between December and February the daytime highs hover around 50°F, dropping off to around freezing at night. It doesn’t snow much except for in the Appalachians, and even then it’s often in the form of sleet and ice.
