Total yearly personal consumption cost is $37,499, on average, according to 2020 data from the Bureau of Economic Analysis . Here’s what you can expect to spend across major purchasing categories. That translates to $3,125 in average monthly expenses for a Tennessean.
How much is the average cost of living in Tennessee?
An amount below 100 means Tennessee is cheaper than the US average. A cost of living index above 100 means Tennessee, Tennessee is more expensive.
Tennessee cost of living is 87.6.
| COST OF LIVING | Tennessee | United States |
|---|---|---|
| Health | 101.9 | 100 |
| Housing | 71.2 | 100 |
| Median Home Cost | $231,600 | $291,700 |
| Utilities | 96.7 | 100 |
How high is the cost of living in Tennessee?
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?
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.
How much do groceries cost per month 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.
What is minimum wage in TN?
$7.25
Tennessee’s minimum wage hasn’t changed since 2009, when the federal minimum wage changed to $7.25. Someone working full time on minimum wage would only make about $15,000 a year.
What is a good salary in Tennessee?
As of Jul 31, 2022, the average annual pay for the Comfortable jobs category in Tennessee is $42,058 a year. Just in case you need a simple salary calculator, that works out to be approximately $20.22 an hour. This is the equivalent of $809/week or $3,505/month.
Does Tennessee have car tax?
As reported by CarsDirect, Tennessee state sales tax is 7 percent of a vehicle’s total purchase price.
Where is the cheapest and safest place to live in Tennessee?
Alcoa is the cheapest place to live in Tennessee. The median home value is around $146,500 and monthly apartment rentals are around $700 per month. There are also many other affordable cities in Tennessee that attract many people to move to the state.
Which 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.
What is the best area to live in Tennessee?
9 Best Places to Live in Tennessee
- Nashville. You guessed it, “Music City” has made our list.
- Brentwood.
- Franklin.
- Germantown.
- Collierville.
- Nolensville.
- Murfreesboro.
- Oak Ridge.
What state in the US has the cheapest rent?
Housing costs in Mississippi are the lowest in the nation. The median price for a single-family home in Mississippi is $140,818, and the average rent for a two-bedroom apartment is $777. Mississippi also has the lowest transportation costs in the nation.
How much is the average water bill in Tennessee?
Utility costs vary greatly by state. The most expensive utility bills can be found in Alaska, with an average cost of $496 per month. New Mexico has the lowest average cost of $232 per month.
Water Prices by State 2022.
| State | Tennessee |
|---|---|
| Avg. Total Utilities | $305 |
| Electric | $126 |
| Internet | $30 |
| Nat. Gas | $66 |
How much is a gallon of milk in TN?
$2.59
For many milk is a grocery staple. However, depending upon where you live, the cost can fluctuate dramatically. According to the USDA, the average gallon of whole milk is $3.59 a gallon.
Average Price Of Milk In Every State.
| State | Cost |
|---|---|
| South Dakota | $2.99 |
| Tennessee | $2.59 |
| Texas | $3.48 |
| Utah | $2.18 |
What does a gallon of milk cost in TN?
Food prices
| Markets | Edit |
|---|---|
| Milk (regular), (1 gallon) | 3.76$ |
| Loaf of Fresh White Bread (1 lb) | 2.94$ |
| Rice (white), (1 lb) | 1.95$ |
| Eggs (regular) (12) | 3.25$ |
How many hours is full time in Tennessee?
30 hours
Full-time (PPACA) – working on average 30 hours or more a week during the measurement or stability period.
How many hours can you legally work in a day in Tennessee?
There are no state laws regulating scheduling. An employer can schedule an employee to work as many or as few hours as the employer feels necessary. If an employee is scheduled to work six (6) hours consecutively, a proper break is required, and overtime rules may apply.
What states have a $15 an hour minimum wage?
Where are $15 minimum wages? Besides California and New York, nine states are headed to a $15 pay base over the next four years – Connecticut, Delaware, Florida, Illinois, Maryland, Massachusetts, New Jersey, Rhode Island and Virginia.
What is poverty level in TN?
Poverty: The proportion of people living under the federal poverty line increased from an estimated 15.0% in 2017 to 15.3% in 2018 (Figure 2). * In 2018, the poverty threshold for a family of three was about $20,000 per year.
What is upper class in Tennessee?
The average income of the top 20% comes in at $172,622. For the top 5%, the average income is $335,653. In Music City, the lowest income to be considered “rich” (Top 20%) is $115,609. The average income of the top 20% comes in at $212,201.
How much does a license plate cost in Tennessee?
Vehicle Registration Fee:
In Tennessee, the renewal fee for Private Passenger vehicles is $29.00. Motorcycles can be renewed for $17.00. The fees for Commercial or Specialty registration renewals vary by county.