Cost of Living in Nashville, TN
Housing
The housing market plays a significant role in determining the cost of living in Nashville, TN.
- Housing Index: 110.0 / 100
- Median Home Price is: $376200
- Average Rent (2 BR Apartment): $1800 per month
- Average Rent (2 BR House): $1840 per month
Considering the data for Nashville, TN, we observe a housing index of 110.0, indicating that real estate values are above the national average. The median home price stands at 376200, which reflects a competitive market. Rent prices for a 2-bedroom apartment are averaging 1800, while a 2-bedroom house averages 1840. These figures suggest that housing affordability might be a concern for renters, especially in relation to local income levels. It's crucial to explore potential income opportunities and lifestyle amenities to make an informed decision about relocating.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Nashville, 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 Nashville, 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 Nashville is a financially viable option for your relocation.