Average Cost of Living in Tennessee: $37,499 per year.
How much money do you need to live in Tennessee?
Typical Expenses
| 1 ADULT | 2 ADULTS (BOTH WORKING) | |
|---|---|---|
| 0 Children | 0 Children | |
| Required annual income after taxes | $27,652 | $42,394 |
| Annual taxes | $4,483 | $6,873 |
| Required annual income before taxes | $32,135 | $49,267 |
Is Tennessee expensive 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.
Is rent expensive in Tennessee?
The average rent for an apartment in Tennessee is $1,730. A two-bedroom home in Nashville averages out to be $1,510 and a one-bedroom’s average is $1,341, according to a study by Apartment List.
How much is the average electric bill in TN?
On average, electricity users in Tennessee spend about $196 per month on electricity. That adds up to $2,352 per year. That’s 6% higher than the national average electric bill of $2,226.
What is a good hourly wage in Tennessee?
Hourly Rate Salary in Tennessee
| Annual Salary | Hourly Wage | |
|---|---|---|
| Top Earners | $93,165 | $45 |
| 75th Percentile | $52,092 | $25 |
| Average | $49,613 | $24 |
| 25th Percentile | $29,552 | $14 |
What part of Tennessee is the cheapest to live in?
2022 Most Affordable Cities in Tennessee
- Lewisburg.
- Union City.
- Millington.
- Paris.
- Knoxville.
- McMinnville.
- Crossville.
- Brownsville.
What are the disadvantages of living in Tennessee?
The Cons of living in Tennessee
- The weather can be extreme at times.
- There are nuclear power plants in Tennessee.
- Traffic in Tennessee’s major cities can be a nightmare.
- It might take time to adapt to the humid climate.
- Tennessee is a landlocked state.
What part of Tennessee is best to live in?
Here are the best places to live in Tennessee: Nashville. Knoxville. Chattanooga.
- Nashville.
- Knoxville. Best Places to Live 2021-2022 Rank: 41.
- Chattanooga. Best Places to Live 2021-2022 Rank: 49.
- Memphis. Best Places to Live 2021-2022 Rank: 143.
What’s the cheapest state to live in?
Mississippi
As of August 2022, Mississippi is the least expensive state to live in, according to worldpopulationreview.com. The Magnolia State has a cost of living index of 83.3.
Is it cheaper to live in TN or FL?
Tennessee is 7.9% cheaper than Florida.
Is living in Tennessee a good idea?
Praised for its diversified economy and culture, the state is home to multiple popular cities such as Nashville which also happens to be the state’s capital. The perfect place to live for any lifestyle, young professionals, families, students, and retirees are heading to Tennessee to enjoy all that it has to offer.
Why is Tennessee housing so cheap?
Tennessee is a fairly cheap place to live, compared to the rest of the country. The cost of living index is 86.5, compared to the national average of 100. This is mostly due to the majority of the state being in rural areas and the lack of a state income tax.
Is food cheaper in Tennessee?
Fortunately, the cost of buying food in Tennessee is typically well below the national average. According to MIT’s Living Wage Calculator, a single adult in Tennessee spends an average of $2,990 per year on food. For a family of four, the cost of food jumps to about $8,820.
How much are groceries in Tennessee?
Groceries. Groceries in Nashville are about 2% higher than the national average. The national average monthly cost of groceries ranges between $165 and $345, which means Nashville residents should expect to pay between $168.30 and $351.90.
How much is housing in Tennessee?
At the start of 2022, median home prices in Tennessee were nearly $350,000—almost 7% lower than the national median of $375,000! Meanwhile, the median monthly rent for a two-bedroom apartment was nearly 12% lower than the national median of almost $1,300. Find expert agents to help you buy your home in Tennessee.
What is middle class in Tennessee?
The middle class income range varies greatly by state, depending on the cost of living, the analysis found.
| State | Tennessee |
|---|---|
| Household Income Range for Middle Class | $21,573 – $98,679 |
| Median Family Income | $69,993 |
| Middle Class Share of State’s Income | 45.5% |
What job makes the most money in Tennessee?
Detailed List Of Highest Paying Jobs In Tennessee
| Rank | Job Title | Entry Level Salary |
|---|---|---|
| 1 | Vice President, Field Operations | $122,000 |
| 2 | Consultant And Sales Representative | $117,000 |
| 3 | Primary Care Physician | $115,000 |
| 4 | Chief Operating Officer, Chief Technology Officer | $108,000 |
What salary is $90 per hour?
Convert $90 per hour to an annual salary. You work about 1,927 hours a year. At a wage of $90/hr, this totals about $173,430 per year. If you work a 40 hour a week job, there’s an easy way to estimate your annual salary.
What part of Tennessee is safest?
Top 10 safest places to live in Tennessee
- Oakland.
- Brentwood.
- Spring Hill.
- Nolensville.
- Germantown.
- Kingston.
- Mount Juliet.
- Collierville.
What is the average monthly cost of living in Tennessee?
That translates to $3,125 in average monthly expenses for a Tennessean.