Is Nashville Tennessee Expensive To Live?

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.

How expensive is it to live in Nashville TN?

Nashville-Davidson cost of living is 101.4

Is Nashville affordable to live?

“Nashville is relatively affordable compared to other major U.S. metro areas, though the housing market has become increasingly competitive,” the report said. The lack of a state income tax factored into the above-average ranking (even factoring in the investment hall tax).

Why is it so expensive to live in Nashville?

However, the continuous growth in Nashville’s economy and its tourism boom has led to many central parts of the city becoming expensive for real estate and visitors: from the cost of food to accommodation and transportation.

How much money do I need to live comfortably in Nashville?

The recommended salary in Nashville is $4,323 per month or $51,876 annually. This total reflects a salary that would allow a renter to live comfortably and afford to cover the median rent for a one-bedroom apartment in Nashville which sits at $1,297.

What is a good salary in Nashville?

In 2017, GoBankingRates.com estimated that residents should earn at least $70,150 annually. Actual median household income lags far behind, at $49,891.

Is Nashville safe?

A study by Wallet Hub found that Nashville is the 80th safest city in the country. The study included more than 180 cities, and included statistics like assaults per capita, road quality and unemployment. The study also looked at financial and health risks.

Is it safe to live in Nashville?

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.

What city in Tennessee has the lowest cost of living?

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.

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.

What to know before moving to Nashville?

10 Things You Need to Know Before Moving to Nashville

• The cost of living is lower than the national average.
• Your money will go further in Nashville when it comes to apartments.
• The live music scene is vibrant.
• Hot chicken is an absolute must.
• Prepare for the Southern heat.
• Make sure to budget for transportation expenses.

Is it cheaper to live in Dallas or Nashville?

Highlights. Nashville-Davidson is 0.2% less expensive than Dallas. Nashville-Davidson housing costs are 22.0% more expensive than Dallas housing costs. Health related expenses are 2.9% more in Nashville-Davidson.

What is minimum wage in Nashville TN?

$7.25 per hour
Tennessee Minimum Wage for 2021, 2022. 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.

What is Tennessee minimum wage?

Tennessee has not established a state minimum wage rate. Because most employers and employees in Tennessee are subject to the federal Fair Labor Standards Act, the minimum wage for employees set forth in that law would typically apply. Currently, the federal minimum wage is $7.25 (hourly rate).

Is it cheaper to live in Tennessee or Florida?

If the average cost of living in the United States is 100, Florida has an overall score of 97.9. This is considerably more than Tennessee, which has an overall cost of living score of 88.7. When comparing the numbers, this means Florida is nearly 10% more expensive to live in than Tennessee.

Is it better to rent or buy in Nashville?

Nashville: A Top City to Buy in the United States
High rental rates and low interest rates usually point to plenty more buying compared to renting. The Music City is ranked as the fourth best places to invest in a home and the tax deduction given for homeowners is very helpful, as well.

What is middle class in Nashville?

There seems to be an engine of prosperity in Nashville that’s helping pull the income distribution to the right.” In 2017, 63.2 percent of the metro area’s households were in the broad middle class, defined as having incomes between $23,000 and $113,000, according to the Brookings analysis of Census data.

What is considered high 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.

Is it safe to walk in Nashville at night?

Keep your hotel room door locked at all times. Avoid walking around these streets alone at night if possible, and stay alert and aware of your surroundings. By exercising caution and being aware of potential hazards, you’ll avoid trouble and enjoy your visit to Nashville.

What should I avoid in Nashville?

12 Things Everyone In Nashville Should Avoid At All Costs

• CMA Fest. Larry Darling – Flickr.
• Broadway after dark. Thomas Hawk – Flickr.
• Highway 24 at rush hour.
• Coffee shops at 11 a.m.
• Other drivers.
• Sunday morning church traffic.
• The raging ice cream lovers at Jeni’s.
• The massive crowds at Pancake Pantry.

Is Nashville racially diverse?

For decades, Blacks have made up more than one-quarter of Nashville’s population. During our “it city” explosion in the last decade, many Asians, Latinos, Middle Easterners and others have been added to the mix. U.S. Census Bureau figures show non-Hispanic whites now make up only 55% of the city’s population.