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.

How much do you need to live comfortably in Nashville?

NASHVILLE, Tenn. --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.

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).

Is housing in Nashville expensive?

Housing in Nashville. Nashville's cost of housing index is 113.3, putting it 13.3% higher than the national average. In addition to being higher than the national average, Nashville's cost of housing index is considerably higher than the Tennessee average of 71.2%.

Is Nashville more expensive than Chicago?

Chicago is 5.4% more expensive than Nashville-Davidson. Chicago housing costs are 12.5% less expensive than Nashville-Davidson housing costs. Health related expenses are 6.3% less in Chicago.

What is the Cost of Living in Nashville Tennessee

Is Nashville more expensive than Houston?

The cost of living in Nashville, TN is 3.4% higher than in Houston, TX. You would have to earn a salary of $62,050 to maintain your current standard of living. Employers in Nashville, TN typically pay -9.3% less than employers in Houston, TX.

Why is Nashville rent so high?

The growing job market and low unemployment rate helped make Nashville one of the top markets for rent growth last year, with a similar growth in rents expected this year as well. Nashville is the capital of Tennessee and the most populated city in the state.

Is Nashville or Austin more expensive?

Highlights. Nashville-Davidson is 15.0% less expensive than Austin. Nashville-Davidson housing costs are 29.0% less expensive than Austin housing costs. Health related expenses are 2.4% more in Nashville-Davidson.

Is living in Tennessee expensive?

Tennessee's quality of life is high, and its cost of living is low. Based on 2020 annual averages, Tennessee has the 8th lowest cost of living in the nation at 10.3% below the national average.

What's the cheapest state to live in?

Mississippi. Mississippi is the cheapest state to live in in the United States. Overall, costs in the state are 17% lower than the national average. Housing costs in Mississippi are the lowest in the nation.

Is Nashville safe 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.

Why are Californians moving to Tennessee?

Increasingly more Californians are saying high taxes, the high cost of living and even politics are making them choose to leave the Golden State. As Californians look for new cities to call home, Nashville has sprung to the top of the list.

How much is minimum wage in Nashville Tennessee?

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.

Is cost of living cheap in Tennessee?

Yes, Tennessee is a very cheap state to live in! The average costs of living in Tennessee is relatively low. According to the 2021 Cost of Living Index, Tennessee ranks sixth place for lowest cost of living in the United States.

What is life like in Nashville Tennessee?

Compared to other cities in the United States, Nashville was ranked number 23 out of 75 when comparing high costs of living. While the city is still relatively affordable, in 2019 it was ranked as more expensive to live in than Dallas, Baltimore, and Atlanta. Residents spend the most money on rent and food.

Is Memphis better than Nashville?

Downtown is really going through a great recovery. Both cities are fun to visit for a couple of days, but I wouldn't blow any vacation days at either one. If you're an Elvis fan, BBQ lover or into blues music, Memphis is the obvious choice. If you're into country music, Nashville is the obvious choice.

Is Nashville or Austin safer?

Based on Sperling's 2021 crime comparison, Austin favors safer for violent crimes, whereas Nashville takes the lead in safety for property crimes.

Is Nashville a growing city?

According to the 2020 Census, Davidson County's population increased nearly 15% in the last 10 years, equating to one new resident every hour. Populations in the Nashville metro area also saw some growth — including 35% in Williamson County and 30% in Rutherford County.

Is rent expensive in Nashville?

The average highest rent is just over $2300 in downtown Nashville. And the lowest rent average is about $1,079 in the Bordeaux-Whites Creek area. The data also showed that rent had increased almost 13.92% from the first quarter of 2021. And the average rent price is $1530.

Is rent going down in Nashville?

Rents continue to increase after record-breaking rent growth in 2021. NASHVILLE, Tenn. (WKRN) — The new year brought much-needed relief to the rental market with rents falling in 61 of the nation's 100 largest metros.

Is Nashville growing too fast?

A majority of residents also believe the city is growing too quickly with 81% sharing the concern. Since 2015, the highest shared sentiment was 79% in 2020.

Is cost of living cheaper in Tennessee or Texas?

Tennessee is 1.7% more expensive than Texas.

Is it cheaper to live in Chicago or Nashville?

The cost of living in Nashville, TN is -17.2% lower than in Chicago, IL. You would have to earn a salary of $49,659 to maintain your current standard of living. Employers in Nashville, TN typically pay -12.4% less than employers in Chicago, IL.

How much does it cost to move from Chicago to Nashville?

How Much Does It Cost to Move from Chicago to Nashville? You need interstate Chicago movers in order to cover the 472-mile moving distance from Chicago to Nashville, so the moving costs average between $3,100 and $9,000.