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 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.
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.
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.
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