What is The Average Cost of Living in Nashville Tn?

April 27, 2023

Nashville is Tennessee's capitol, largest city, and Davidson County's municipal hub. Nashville city has a population of 694,144, while the metro area, which encompasses 13 outlying counties and the city itself, has a population of nearly two million.

Nashville is the sec hub for music production and recording after New York City. Nashville's main industry is healthcare, but the city's music scene is also a major draw for visitors.

Nashville has a cost of living of 101, 4, putting it slightly above the national average and around 14% above the state average of Tennessee. Want to know more regarding “ What is the average cost of living in Nashville ? ”. 

Nashville cost of living 2022 is 5% lower than that of the national average. Your career, average pay, and local real estate market can affect your cost of living. PayScale's Cost of Living Calculator can help you determine how much it would cost to move based on your demands.

Nashville's Real Estate Market

The index for the housing cost in Nashville is 113.3, which places it 13.3% higher than the average for all of the United States. The index for the cost of housing in Nashville is not only greater than the national average, but it is also significantly higher than the average for the state of Tennessee, which is 71.2%.

Around $262,000 is the median asking price for all houses on the market in Nashville , which includes prices for condos, townhomes, and single-family homes. On the other hand, the price will be higher in upscale areas of popular neighborhoods in Nashville. The marketing of residential properties has seen a year-over-year increase of more than 10%.

While the average cost of living in Nashville TN regarding the market price for all houses in the neighboring suburb of Murfreesboro, which is situated near to Nashville, is $299,900, the median list price for all homes in Franklin is $470,400.

Nashville's Various Types of Utilities

Nashville utilities cost 99.3, considerably below the U.S. average. Tennessee's utility cost index is 96.7%, lower than Nashville's.Nashville utilities average 6.3% of monthly income. The average cost of living in Nashville TN  for electricity, heating, cooling, water, and garbage cost $173 per month for a 915-square-foot flat. 

Mobile phone service including unlimited talk, text, and data is $45 per month, while internet costs $70.Nashville homeowners' insurance premiums $1,402–1,577 annually, depending on the provider. Tennessee renter's insurance costs $18 per month or $218 per year. $16 a month or $192 per year is more than the national median.

Nashville's Food

Food prices don't affect the cost of living in Nashville Tn much.The citywide food price index is 102. Tennessee's grocery price index is 95, below the national average.

Nashville residents spend $216 on food monthly. This covers groceries and restaurants.

Nashville's food prices are 2% more than average. Food costs $168.30 to $351.90 per month in Nashville, higher than the national average of $165 to $345.

Nashville restaurant prices vary by location.

Fast food combos cost $7.50, while a two-person sit-down restaurant meal costs $15. (not including gratuity). A three-course supper for two at a modestly priced restaurant costs $75 (not including gratuity).

Transportation Options In and Around Nashville 

Tennessee vehicle insurance costs $1,315, less than the national average of $1,510. The average Nashville auto insurance premium is $1,885, greater above the state and national averages. Regular unleaded gas averages $2.05.

Nashville's main public transit provider is WeGo. $2 is the usual one-way charge. Children under four ride free with a paying passenger, and seniors 65 and older and adolescents 19 and under pay $1. All-day admissions cost $4 and 31-day passes $65.

WeGo Star trains are better for commuters. For long-distance workers, the WeGo Star Train's seven stations can be more efficient. Well before tickets always saves a lot of money. However, platform ticket sales continue.

Healthcare in the Nashville Area

A 40-year-old person in Tennessee may expect to pay around $491 per year for health coverage. The average cost of living in Nashville TN  about Nashville's medical care costs are 3.3% lower than the U.S. average. More doctors per person (347) than the national average (210) may be found in this city.

These days, a trip to the doctor will cost you around $90. The average cost of a trip to the dentist is $78 while that of an eye doctor is $85. The average cost of a trip to the doctor is $115, the average cost of a trip to the dentist is $98, and the average cost of a visit to the eye doctor is $106. 

About $54 is the average cost of a trip to the vet for a dog or cat, although the price can go up for things like shots and tests.

Nashville is home to no fewer than eight medical facilities. Baptist Hospital, Metro National General Hospital, and Vanderbilt University Medical Center are just a few samples.

Things to Do in Nashville 

Nashville is full of creative activities. Music City offers visitors and locals everything from music, culture, and the arts to sports, shopping, nightlife, and golf.

The "Smithsonian of Country Music"—the Country Music Hall of Fame—is in downtown Nashville. General entrance is $25.95 for adults and $15.95 for children 6–12. Tour pricing varies.The Grand Ole Opry hosts country stars and beginners. Adult and child show tickets cost $90.

The Belcourt Theatre shows independent, international, and vintage films. Adult general admission is $11.Nashville's eateries promote Tennessee barbecue. Peg Leg Porker's $23.95 rack of ribs with two sides is one of the city's top barbecues.

Expenses in Nashville

Nashville individuals earn $27,798 a year, while the median household income is $46,758. The household median income is $53,482, while the average is $28,555.

Nashville's 3.2% labor force growth and 70.4% labor force participation rank second and fourth, respectively, in the nation.Healthcare management, automobile manufacture, finance, higher education, insurance, music production, publishing and printing, technology, manufacturing, and tourism are Nashville's top industries.

Nashville has been named The best Cities for Young Workers and Small Business Friendliness. Since 2009, metro employment has increased 20%, putting the city's economy above $100 billion. The national minimum wage is $7.25 in Tennessee. Nashville has 3.2% unemployment, compared to 3.7% nationally because of the average cost of living in Nashville TN.Tennessee has had no wage income tax. The state taxes interest and dividends 6%.

Locate Your New Nashville Home

Nashville is called Music City for a reason, but it's more than just country music. An advantageous tax system, mild climate, and strong healthcare, technology manufacturing, and other top industries make it one of the fastest-growing cities in the nation.

Nashville is a great place to live, but no choice should be rushed. Nashville's neighborhoods vary greatly. Before moving, do your research to find the perfect property.
If Nashville chances attract you, contact the Nashville moving company , who are ready to assist you in finding the property of your dreams.

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