Cost of Living in Nashville TN

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Services for Real Estate Pros with InboundREM

Understanding the Cost of Living in Nashville, TN

The cost of living in Nashville, TN, should be considered while making financial decisions and establishing long-term goals. 

Read on to gain in-depth knowledge about the lifestyle that awaits you here.

 

Overall Cost of Living in Nashville

Nashville, Tennessee, has a cost of living index of 103.1, 3% higher than the U.S. average in 2023. For a single person, that means spending roughly $3,484 monthly, which adds to around $41,814 yearly. Families with kids should budget around $7,117 per month or about $85,403 annually.

Housing Costs
Housing in Nashville is pricier, mainly because the city offers a lot of amenities. The typical home in Nashville is valued at about $429,027; in July, the median residential property price was roughly $459,900.

Renting a one-bedroom apartment in Nashville usually costs about $2,120 per month, while a three-bedroom apartment goes for around $3,941. You can find more affordable rent options outside the city center, with one-bedroom apartments at around $1,588 and three-bedroom apartments at approximately $2,492.

Utility Costs
Utilities in Nashville make up about 6.3% of monthly income, just slightly less than the U.S. average. Expect to pay around $168.95 monthly for utilities in a 915-square-foot apartment. Internet service usually costs about $79 monthly; a mobile phone plan with calls and 10GB of data comes to about $45 monthly.

Groceries and Dining
When it comes to groceries and dining, Nashville is only 2% more expensive than the national average. You'll spend roughly $216 monthly on groceries and eating out, but there are budget-friendly grocery stores like ALDI and others. Dining out costs can vary widely depending on where you go.

Transportation
Nashville's main public transportation is WeGo Public Transit. A two-hour fare costs $2, and seniors and youths pay $1. If you need an all-day pass, it's $4, and a 31-day pass is $65. The WeGo Star Train operates between seven stations for a more efficient option. Gas prices average around $2.05 for regular unleaded. Car insurance in Nashville is higher than the state average at $1,885, while Tennessee averages $1,315.

Education and Healthcare
Public schools in Nashville are generally free for legal residents. Private schools have an average tuition cost of about $10,000 per year. College costs depend on the institution and program, but it's around $5,879 on average. Out-of-state students can expect to pay about $20,996.

Healthcare costs in Nashville are slightly lower than the national average. A doctor's appointment costs about $95, a dentist visit is around $78, and seeing an optometrist is approximately $85. Health insurance is essential and costs around $478 per month for a 40-year-old individual in Tennessee.

Entertainment and Culture
In Nashville, you can search the Country Music Hall of Fame and Museum downtown, where ticket prices range from $17.95 to $27.95. The zoo's ticket prices vary, with adults and teens paying $16 to $26, children aged 2 to 12 costing $4, and under 2-year-olds getting in free. Non-members pay $8 for parking. Golf courses in Nashville typically range from $15 to $100, and a fitness club membership for adults averages around $42.78. For a night out in Nashville, expect to spend approximately $318, including dinner, drinks at a bar, and tickets to concerts or events.

 

To explore different views and for more information, visit the original blog post: 
https://livingthenashvillelife.com/nashville-cost-of-living/

 

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If you require a Buyer's Agent to represent you during your transaction, please feel free to contact our office at 503-332-9469. We would be glad to work with you to get the best deal possible for your transaction.

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POSTED BY:

 

Jeremy Polzel

503-332-9469

75 Industrial Dr,

Mt. Juliet, TN 37122

https://livingthenashvillelife.com/

 

Comments (1)

Charles Ross - eXp Realty LLC
eXp Realty LLC Salina Group - Salina, KS
Love To Help People

Excellent post.Thank you for sharing. Have a wonderful day and a blessed week

Sep 09, 2023 09:58 AM