What Is The Cost Of Living In Nashville TN? 

What Is The Cost Of Living In Nashville TN? 

August 19, 2022 Off By Altaf

The cost of living in Nashville TN can vary based on factors such as your career, average salary, and the real estate market. Nashville TN is not a state or country but the capital of the United States state of Tennessee. It is famous because of its nicest neighborhoods and homes in the entire country, with entertainment and amenities to match. So, without taking too much time let’s know about the cost of living in Nashville TN

What Is The Cost Of Living In Nashville TN? 

The cost of living in Nashville TN sits slightly above the national average of 100. So, to understand the average cost of living in Nashville TN you need to read out the table given below. The given cost of indices is based on a US average of 100. An amount above 100 means the monthly cost of living in Nashville TN is more than the US average. 

Cost Of Living ForNashville TN USA
Housing113.3100
Grocery102100
Transportation100.7100
Utilities99.3100
Health96.7100
Miscellaneous87.4100
Median Home Cost$341,700$291,700
OverAll101.4100

Home Rent

When you think about moving to a new city, the first thought that comes to your mind will be a house rent. The table given below will give you an idea of the rent of 1 and 2-bedroom houses in the city of Nashville. It will also give the cost of living if different cities including Nashville.  

CityApprox 1 Bedroom RentApprox 2 Bedroom Rent
Nashville $1250$2450
Knoxville  $975$1395
Memphis $700 $1800
Chattanooga $875 $1400 

Food Cost 

The high food cost affects the cost of living. Therefore, it is important to know about the cost of food in Nashville TN. So, the cost of living in Nashville, TN 2020 is dependent on the food cost also. Nashville residents expect an average cost to pay $216 per month for food. The table given below will give you an approximate cost of dinner for 2 people in different cities in Tennessee.

CityApprox Dinner For 2
Nashville $62 
Knoxville  $64 
Memphis $48.99 
Chattanooga $38 

Travel Cost 

The cost of living for single person in Nashville TN is also dependent on the cost of traveling. So, the average price of a trip for one week is around $964 for one person. And a trip of two people will cost around $1,927 for one week. 

Other Expenses 

Expenses are unlimited and it is not possible to count all expenses. Here are some significant expenses. 

Health Care 

When you look at the cost of living in Nashville, TN vs Houston, TX you will find Nashville more expensive than Houston because of high health care charges. In Nashville, the average healthcare cost of one individual and one child is $812 and for couples of age, 40 years is $1,016. 

Utility Bills 

In Nashville, the utility bills are near about $159.32 per month. And the national average of $151.96. Residents of Nashville spend about 6.3% of their monthly income on utilities. The utility includes electricity, cooling, heating, water, and garbage. 

Internet Bills 

The cost of the internet changes as per the provider and speed. If you buy a plan of AT&T DSL of 5 to 100 Mbps then you need to pay $30 per month. And for AT&T Fibre of 100 to 1000 Mbps is $39.95 per month.  

Fitness 

The fitness cost depends on the fitness club or gym. So, in Nashville, the cost of fitness clubs for adults of 19 to 30 years is $52 per month, plus one-time joining fees of $50. The trainer will cost you between $20 to $125 per hour if you hire him. 

Entertainment 

For entertainment you can visit Honky Tonk Highway, illusion: the drag queen show. Also, you can explore the nightlife, see a show, and dive into Nashville’s diverse entertainment offerings. So, the cost of activities and entertainment in Nashville is $22 per person per day.  

Taxes 

The minimum combined sales tax rate for Nashville TN is 5.5%. This is the total state, country, and city sales tax rates. The Tennessee sales tax rate is currently 5.5%.

FAQ

Is Nashville Expensive To Live In?

The annual price of living comfortably in Music City soared to $80,548 this year, according to a new analysis by personal finance management website GoBankingRates.com. Nashville, the priciest city in the state, is home to Tennessee’s most expensive real estate values.

What Salary Do I Need To Live In Nashville TN?

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.

How Much Money Do You Need To Make To Live Comfortably In Nashville?

A 2018 study by GoBankingRates found Nashville residents need to make $85,000 a year to “live comfortably,” $34,000 more than the city’s median income.

Is Nashville A Safe Place To Live?

For the most part, Nashville is considered a safe destination for visitors. That being said, Nashville does have an above average crime rate and so visitors to Nashville should remain alert to their surroundings just like they would in any major city. Nashville is a rapidly growing city.

Get to know more such amazing facts by visiting here.

Conclusion 

Now, you know what is the cost of living in Nashville TN. and from that you can conclude that, Nashville, the priciest city in the state, is home to Tennessee’s most expensive real estate values. Also, it costs an average of $745,800 for a home in the city’s most expensive area. After reading this article, you are free to decide whether you should move to Nashville TN, or not. Because now you are familiar with the cost of living in Nashville TN.

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