Alex is the founder of 9Kilo Moving, which he started to help people easily find and choose the right moving company to make their move as stress-free and seamless as possible. He has spent over 20 years working in the moving industry, so he knows every aspect of the business and uses his knowledge to write about the industry and give moving advice. More on about us page
Tennessee ranks as the sixth-cheapest state in the US, with the overall cost of living being 11% lower than the national average, providing residents with financial flexibility and a higher standard of living.
Housing costs in Tennessee are 21% below the national average. This translates into more affordable homeownership, with the median cost of a single-family home being $148,900. For those preferring to rent, an average two-bedroom apartment can be found for $890 per month.
See also: The top 10 moving companies in Tennessee.
Tennessee also stands out for its low transportation and health care costs. The state has the second-lowest cost of transportation in the nation, ensuring that residents spend less on commuting and maintaining their vehicles. Additionally, Tennessee ranks fifth for its low health care costs, making quality medical services more accessible and affordable.
Utilities cost around $256.83 per month. These affordable utility rates contribute to overall cost savings for residents, adding to its ranking as one of the least expensive states.
Tennessee maintains a low unemployment rate of 3.4%, which signifies a relatively stable job market and employment opportunities. The median household salary is $49,330. While this may be lower than other states, Tennessee is one of the few states in the US that does not levy a state income tax. Residents can keep more of their earnings, contributing to a more favorable financial position.
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