Cost of Living in Erwin, TN

Housing

The housing market plays a significant role in determining the cost of living in Erwin, TN.

• Housing Index: 85.0 / 100
• Median Home Price is: $228000
• Average Rent (2 BR Apartment): $1150 per month
• Average Rent (2 BR House): $1200 per month

Considering a move to Erwin, TN? The housing index of 85.0 indicates an affordable market compared to national averages. With a median home price of 228000, purchasing a home here could be a valuable investment. Renting, however, is also a reasonable option with average rates of 1150 for a 2-bedroom apartment and 1200 for a house. As a prospective resident, it's essential to weigh these costs with local job opportunities and amenities, which can greatly influence your living experience. Keep these factors in mind as you make your decision!

Utilities

The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Erwin, TN.

• Electricity Price: 12.57 USD (median by state)
• Natural Gas Price: $12.35 USD per Thousand Cubic Feet (median by state)
• Other Utilities (water, garbage, etc.): $220 per month

Living in Erwin, TN could entail higher utility costs. Electricity costs sit at 12.57, while natural gas is priced at 12.35 per Thousand Cubic Feet—both aligning with state medians. Expect to budget about 220 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

• Index score: 90.5

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

• Median Income: $40670

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

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Summary

When considering a move to Erwin, TN, consider the following factors:

• Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
• Job opportunities: The availability of jobs in your field can affect your quality of life.
• Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.