Cost of Living in Germantown, TN
Housing
The housing market plays a significant role in determining the cost of living in Germantown, TN.
- Housing Index: 90.0 / 100
- Median Home Price is: $401000
- Average Rent (2 BR Apartment): $1400 per month
- Average Rent (2 BR House): $1500 per month
In analyzing the housing market in Germantown, TN, we find a housing index of 90.0, indicating that affordability is somewhat favorable compared to the national average. The median home price stands at 401000, suggesting a moderate entry point for homebuyers in the area. Furthermore, average rents for a 2-bedroom apartment and house are 1400 and 1500, respectively, reflecting the demand for rental properties. Consider factors like job opportunities and local amenities as you weigh your options, as these can significantly impact your living experience and financial investment.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Germantown, 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.): $250 per month
Living in Germantown, 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 $250 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 Germantown is a financially viable option for your relocation.