Cost of living
Your money goes further in the Nashville region than in most cities in the U.S. There are three major factors working in your favor when it comes to how far your dollar goes.
1
0% PERSONAL INCOME TAX Rate
NO PERSONAL INCOME TAX ON EARNINGS IN TENNESSEE. This saves the average relocating family between 3% and 10% of your income – or a savings of $3,000 to $10,000 more for every $100,000 you earn.
2
98.8 Cost of living index
COST OF LIVING IS BELOW THE U.S. AVERAGE 98.8 ON A SCALE OF 100.
3
9.2% Higher Income
PER CAPITA INCOME IS 9.2% HIGHER THAN THE NATIONAL AVERAGE.
Source: C2ER Cost of Living Index, 2023, US Bureau of Economic Analysis (BEA) 2022
COST OF LIVING
U.S AVERAGE: 1OO
Source: C2ER Cost of Living Index, 2023, US Bureau of Economic Analysis (BEA) 2022
Tax Burden Comparisons
Estimated Burdens of Major Taxes for a Family earning $75,000/year.
Source: District of Columbia, Department of Finance,Fci Tax Rates and Tax Burdens In DC – A Nationwide Comparison Report, 2021 (issued 2023)