By definition, that implies Nashville ranks as the #4,785 most expensive place in the Tar Heel State. NerdWallets cost of living calculator is powered by data from The Council for Community and Economic Research (C2ER). Home prices, property taxes and monthly rents vary from state to state, city to city, town to town and even neighborhood to neighborhood.For homeowners, there are more expenses to consider than just the monthly mortgage payment. from the Council for Community and Economic Research. Hopefully you will have a smooth commute in Charlotte, North Carolina, but be prepared for delays. Here are two important questions and the numbers to you will need to answer those questions: How much more or less will it cost to live in the new city? Americans spend nearly the same amount each year on entertainment as they do on health insurance, according to the BLS. The time you spend commuting is time you do not have to do other things, so it is valuable. Niche is not a lender and does not endorse the products of these advertisers. Costs are dropping at a rapid rate. , a nationwide ratings system that evaluates schools based on performance on state achievement tests. You should evaluate the options based on your usage and preferences and pick the best fit for your needs. One big thing that Nashville is focused on is small businesses and helping aid in their growth. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Living in Nashville offers residents a sparse suburban feel and most residents own their homes. Theres also maintenance, upgrades, taxes and fees to take into account when deciding where to live. The average time for commuting in Charlotte is 38.02 minutes. Don't get me wrong, Nashville isn't terrible, it's just not my cup of tea. The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Good. Do these housing costs seem low to you? Education data was provided courtesy ofGreatschools, a nationwide ratings system that evaluates schools based on performance on state achievement tests. Excellent. Some stores like Kroger offer frequent discounts or loyalty programs that can save you even more at the checkout. So how do we make money? The largest increases were found in Transportation, Food, and Housing. Nashville, NC area prices were up 1.5% from a year ago. best One of most important determinations you need to make before moving to a new city or town is how much it will cost to live there. Mortgage preapproval is the smartest hack to homebuying and among the most misunderstood. Here's what lenders want before they'll preapprove you for a home loan. Transform pay with our enterprise-grade comp platform, Automate compensation with our full-suite solution, Payscale's employer-reported salary data network, The world`s largest employee-submitted pay database, Annual survey salary data from HR industry publishers, The crowdsourced compensation data API for developers, 100% company submitted data from 2,000+ businesses, Schedule a personalized demo to feel the power of Payscale, Find salary information for similar job titles and locations, Comp Planning Business Case Pitch Deck By clicking Download Pitch Deck, you. Fees that Niche receives for ads do not affect the terms you may be offered by the lender you choose. The expenses that factor into cost of living can include housing affordability, transportation expenses, food prices and entertainment costs. While other resources provide basic cost comparisons,NerdWallets cost of living calculatorand accompanying city life tool go one step further by offering information on schools, quality of life and demographics, giving users a one-stop shop to explore new cities. According to the BLS, transportation is the second-largest expense consumers have.For some, these costs include taking public transportation. Comparable Income: $32,344. The sales tax for Charlotte is 4.75%. Private school data was obtained from the Department of Education, and average private tuition was compiled by averaging tuition across randomly selected schools in each city. Some aspects of the town are really nice (housing, commute time, friendliness, etc.). This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. The town was founded in 1780 and features a rare collection of Victorian and Queen Anne style homes. The weather in Charlotte is ideal. NerdWallet excluded state and local tax data because tax rates vary by state and metropolitan area, and sometimes within metropolitan area as well. Although the cost of living data is updated regularly, this cost of living information is to be used as According to the most recent data on the cost of living, Nashville has an overall cost of living index of 90 which is 0.9x lower than the national index of 100. Our partners compensate us. Just like with food costs, you can curb how much you spend on entertainment by altering your behavior. That's probably because we're measuring average costs for the larger metro area, not just the city limits. Unless youre lucky enough to work from home, you will need to factor in transportation costs when deciding where to live. This is the tax that you will pay on things that you buy. Read more from, North Carolina is ranked number 37 out of all states in overall healthcare access and affordability. Overall, the time and ease of your driving times will impact your. Prices for goods and services in Nashville are partly crowdsourced by our visitors, just like yourself. PayScale's Cost of Living Calculator can help you find out more about how your individual needs will factor in when beginning your research to figure out how much it would cost you to relocate. It's also important to consider median household incomes to make apples-to-apples comparisons across locations. Get your true budget and find a home with ease. Nashville cost of living is 83.2 100=National Average AVERAGE RENT BY BEDROOM SIZE Rent per Month Nashville Rocky Mount Metro North Carolina United States Studio 1 Bedroom 2 Bedrooms 3 Bedrooms 4 Bedrooms 0 500 1000 1500 2000 2500 COST OF LIVING MAP + - Leaflet | OpenStreetMap contributors, CartoDB, CARTO Overall Cost of Living (US Avg: 100) Nashville is in Nash County. We use data, analytics, and a sense of humor to determine quality of life for places across the nation. It is part of the Rocky Mount, North Carolina Metropolitan Statistical Area. Because the price of goods and services varies from one city to the next, calculating the cost of living will determine how affordable it is to live in a certain area. Awful. Transportation: Unless youre lucky enough to work from home, you will need to factor in transportation costs when deciding where to live. What is the breakdown of the cost of living? Home prices, property taxes and monthly rents vary from state to state, city to city, town to town and even neighborhood to neighborhood.For homeowners, there are more expenses to consider than just the monthly mortgage payment. Housing Costs. Thinking about moving to another city? NerdWallet strives to keep its information accurate and up to date. In Charlotte, North Carolina I go to a lot of Charlotte Hornets games. Walkability and public transit scores were obtained from, Monthly bus pass costs were obtained from the individual websites of the public transit system for each city. Best Places to Retire in North Carolina. Nashville, Tennessee's cost of living is 2% lower than the national average. How to Get Preapproved for a Mortgage and Why It Matters. With an estimated population of 668K, Nashville is the 25th largest city in the United States. The cost of living index is set to 100 for the average place in America. Theres also maintenance, upgrades, taxes and fees to take into account when deciding where to live. For example, the cost of an unlimited MetroCard in New York was obtained from the. Nashville has grocery prices that are 2% lower than the national average. Increasing rapidly. Just like with food costs, you can curb how much you spend on entertainment by altering your behavior. Energy costs in Charlotte,NC are generally going up. Most Diverse Places to Live in North Carolina. The median after-tax salary is $4698, which is enough to cover living expenses for 1.7 months. places to live around Nashville, The cost of living in Nashville is 15% lower than the national average, North Carolina general sales tax is 7% lower than the national average, North Carolina state income tax is 113% higher than the national average. Pricing for various packages can vary a lot even in the same location. Discover the schools, companies, and neighborhoods that are right for you. Comparisons improve with every new data that you enter. How Much Down Payment Do You Need to Buy a Home. The standard of living in Nashville ranks as #1,633 most . Based on violent and property crime rates. You'll have to take out a loan to live here. Cost of living is the amount of money you need to sustain a certain lifestyle in a given place. While other resources provide basic cost comparisons. Living in Nashville offers residents a sparse suburban feel and most residents own their homes. Healthcare costs make up a significant part of the. Current cityIf you can't find a city, you can type the state name to see all cities available in that state. You could be looking at a positive net change in disposable income $2,692.5 Explanation The cost of living in Charlotte, NC is 0.3% higher than in Nashville, TN. And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free. How is this tool different from other resources out there? Step-By-Step Pay Equity Analysis Guide Product Guide By clicking Download Product Guide, Do you know what your employees really want for the holidays? Whether thats a mortgage or rent, a large percentage of your salary will go toward your housing expenses each month. According to the U.S. Bureau of Labor Statistics, the largest bill consumers pay each month is for housing. Proximity to employment is an important consideration because it can drastically impact your cost of living. For others, it involves driving your car, and that means factoring in car repairs, gas, tolls and parking. Get matched with a top agent in your area. A low rate can save you hundreds each year. An index above 100 means Nashville is expensive, while a number below 100 means it's a relatively cheap place to live. Familiarize yourself with the places where students hang out, and take advantage of discounted or bargain prices, you are sure to be able to keep your. Core cost of living data is fromThe Cost of Living Index - COLIfrom the Council for Community and Economic Research. Cost of Living in Winston-Salem, North Carolina: 79.19 miles: Cost of Living in Greensboro, North Carolina: 92.61 miles: Cost of Living in Columbia, South Carolina: 93.12 miles: Cost of Living in Greenville, South Carolina: 100.97 miles: Cost of Living in Asheville, North Carolina: 129.34 miles: Cost of Living in Hope Mills, North Carolina: 134 . Price collection by city is conducted in strict conformance with standard specifications at specified times. Cost of Living: -16.8% lower Time zone: Eastern Standard Time (EST) Elevation: 150 ft above sea level New! Places with the Lowest Cost of Living in North Carolina. Ask your employer if they offer discounted passes to save even more money and reduce your cost of commuting and overall, from Nashville, TN with a salary of $60,000, View Minimum Wage Values in Nashville and Charlotte Compared with the Cost of Living. And it adds up. Checking rates won't affect your credit score. Source: Wikipedia (as of 04/11/2019). Ranked 202nd (TOP 2%) in the list of best places to live in the world and 54th best city to live in the United States, and 2nd most liveable city in Tennessee. Using these numbers, we calculated the net change in annual disposable income that a move to the new city will have on your wallet and lifestyle. New York (Manhattan) Comparable Income: $65,085. 89 of 498. The cost of living in Nashville is 9% lower than the North Carolina average The cost of living in Nashville is 15% lower than the national average Nashville housing is 36% lower than the national average North Carolina general sales tax is 7% lower than the national average North Carolina state income tax is 113% higher than the national average There are many providers and various packages that are offered, many that bundle internet, cable, and phone together. All financial products, shopping products and services are presented without warranty. Compared to only North Carolina, Nashville has a cost of living index that's 0.9x lower than North Carolina's index of 95. According to the BLS, transportation is the second-largest expense consumers have.For some, these costs include taking public transportation. Getting to work is important. Choosing the right mortgage can help make your home buying journey easier and more affordable. Demands for a living wage that is fair to workers have resulted in numerous location-based changes to minimum wage levels. Use the link below to embed the infographic from our site and automatically keep the data layer up to date. NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer Access|Licenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc. (CA resident license no. Please. The weather, traffic, time of year, day of week and if there are accidents, can all impact your commute time. Like Nashville, Tennessee, the town and its county were named for Francis Nash, an officer of the North Carolina militia who died in the American Revolutionary War. Based on the housing stock, population density, and the proximity of amenities of the area. Here's how to know how much you really need. It's already a small town, but perhaps we need to implement bigger [company] names to expand. Pay increases are a top concern for 2022 to attract and retain talent, Temporary employee laws: A guide to hiring contract roles, What to include in a termination letter: Template and examples, How to Manage Your Time and Prioritize Your Workload. To maintain your standard of living in Raleigh, NC, you'll need a household income of: The cost of living is 1% lower in Raleigh, NC. Decreasing steadily. Philadelphia. All financial products, shopping products and services are presented without warranty. Get free guidance on changes you can make to afford more home, without spending more. Pay, Whether you are hiring a single employee , or an entire department of, The labor market is a strange place right now. I just wish it had more to offer. A movie ticket, a pint of beer, box seats at a baseball game they can all come with a different price tag depending upon where you live. I like that Nashville is very community orientated. The standard of living in Nashville ranks as #1,633 most affordable out of the 6,418 places we measured in North Carolina. When evaluating offers, please review the financial institutions Terms and Conditions. The median after-tax salary is $4698, which is enough to cover living expenses for 1.7 months. It is the county seat of Nash County. Do not sell or share my personal information. I can barely keep up with the increasing prices. Monthly bus pass costs were obtained from the individual websites of the public transit system for each city. Based on employment rates, job and business growth, and cost of living. The cost of living in any area can vary based on factors such as your career, its average salary and the real estate market of that area. Compare today's top mortgage and refinancing providers. Pre-qualified offers are not binding. Since groceries are an essential part of you, I love basketball. According to the latest BLS data, consumers average over $7,000 per year on food expenses. This price can vary a lot if the distance is greater and depending on how much is being moved. It is comprised of nearly 100,000 data points gathered primarily by C2ER members located in 400 cities.. Afford the city you want to live in. We aim to deliver bite-sized pieces of infotainment about where you live. Many retirees live in Nashville and residents tend to lean liberal. and accompanying city life tool go one step further by offering information on schools, quality of life and demographics, giving users a one-stop shop to explore new cities. Everything is more expensive than I'd like. Pre-qualified offers are not binding. Home and income come data comes from the most recent US Census ACS 2014-2018. Compared to only North Carolina, Nashville has a cost of living index that's 0.9x lower than North Carolina's index of 95. Whether you use a cost of living index or a cost of living calculator, each will help you feel more confident in deciding where to live. For example, the cost of an unlimited MetroCard in New York was obtained from theMTA website. Provides auto-suggestions when entering text. A cost of living index allows you to directly compare what it costs to live in one area against another, helping you understand how far your money can go in each place. Whether thats a mortgage or rent, a large percentage of your salary will go toward your housing expenses each month. Even if your employer is covering the cost of a move, there will still be costs that are not covered. Get approval in minutes. Cost of living is also tied to income, as salary levels in a geographic area are measured against these expenses. Nashville Cost Of Living Vs. North Carolina, Detailed Nashville Services Costs Vs. North Carolina, Detailed Nashville Groceries Costs Vs. North Carolina, Detailed Nashville Health Costs Vs. North Carolina, Detailed Nashville Transportation Costs Vs. North Carolina, Detailed Nashville Utilities Costs Vs. North Carolina, Cost Of Living In Cities Around Nashville. Your use of this service is subject to our If you can't find a city, you can type the state name to see all cities available in that state. You will enjoy living in Charlotte, North Carolina. Niche requires Javascript to work correctly. A shift towards, Handling involuntary termination is a likely occurrence for human resources managers and, Return better results with Payscale job search, Compare real living costs across different states, Consider potential directions your career can take, Calculate the 20-year net ROI for US-based colleges, Are you the kind of person who struggles to get a handle, Learn where the best career earners attended college, Streamlined solutions for every step of the compensation management journey, Continuously updated compensation datasets from Payscale and our partners, Flexible, customizable services and support for Payscale customers, End comp guesswork with our free job-pricing tool, From collection to validation, our data methodology delivers certainty, Meet the leaders dedicated to empowering better conversations around pay, Track and compare wage-growth by city, industry, company size, and job category, Access helpful tools and insights for career planning and salary negotiation, Explore real-world career trends and advice from the leaders in compensation, Uncover detailed salary data for specific jobs, employers, schools, and more, Take our salary survey to see what you should be earning. The cost of electricity can have a bigger than average impact of your overall, I am single and live in Charlotte,NC, I rent a small studio and the monthly rent is $1125 . A crowdsourced database with a cost of living calculator for prices comparison in 9294 cities in 197 countries all over the world. Based on data collected by NOAA National Climatic Data Center, Charlotte is considered to have one of the most favorable climates in the country based on comfort and number of days with clear skies. The estimated population of Nashville was 5,460 in 2015. If you prefer to download the image, please credit us as a source. There are ways to trim that down. To maintain your standard of living in Raleigh, NC, you'll need a household income of: $50,158. Our partners cannot pay us to guarantee favorable reviews of their products or services. Once you understand what they cover, they'll look less overwhelming. The average cost of living in Nashville is $2707, which is in the top 1% of the most expensive cities in the world, ranked 98th out of 9294 in our global list, 80th out of 2202 in the United States, and 1st out of 33 in Tennessee. Your use of this service is subject to our, Meal for 2 People, Mid-range Restaurant, Three-course, McMeal at McDonalds (or Equivalent Combo Meal), Beef Round (1 lb) (or Equivalent Back Leg Red Meat), Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car), Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car), Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment, Mobile Phone Monthly Plan with Calls and 10GB+ Data, Internet (60 Mbps or More, Unlimited Data, Cable/ADSL), Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child, International Primary School, Yearly for 1 Child, 1 Summer Dress in a Chain Store (Zara, H&M, ), Price per Square Feet to Buy Apartment in City Centre, Price per Square Feet to Buy Apartment Outside of Centre, Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105. The federal minimum wage is $7.25 per hour while North Carolina's state law sets the minimum wage rate at $7.25 per hour in 2023. Everyone in the community works together to help each other strive as well as the town as a whole. It may be small but it's filled with a lot of care for the community, and all around. Nashville has a median income of about $52,917 for people who own homes. 4% lower. Make sure you budget for these types of expenses and include them in the first years, The current electric rate cost in Charlotte,NC is 11.07 / kWh, which is up compared to the rest of the United States. There are ways to trim that down. In those areas you will be sure to find lots of free or cheap events to go to and plenty of cheap places to eat. Boston. Get . Niche may be compensated by the third party lenders and others who place ads on the website. Nashville is a city in Nash County, North Carolina, United States. Most goods and services are affordable. You could eat out less, cut back on takeout and cook more often. According to the latest BLS data, consumers average over $7,000 per year on food expenses. Nashville-Murfreesboro, TN . Comparable Income: $28,367. How much more or less will pay for the same or similar job be in the new city? Housing costs: According to the U.S. Bureau of Labor Statistics, the largest bill consumers pay each month is for housing. But even then, the price of groceries is going to significantly influence your cost of living. Cost of Living Expense Details Compare Cities Move To Job Openings Cost of Living in Nashville, NC is 4.4% Higher than the National Average Did the Cost of Living in Nashville, NC increase in 2023? Items on which the index is based have been carefully chosen to reflect the different categories of consumer expenditures., C2ER was founded in 1961, and continues to exist today as a nonprofit organization, comprising research staff of chambers of commerce, economic development organizations and agencies, and related organizations throughout the United States. C2ER has published its quarterly Cost of Living Index since 1968. The cost of a monthly transit pass in Charlotte, NC is around $88.00. Comparable Income: $40,695. To get the best mortgage loan, know how much you can afford and shop like the bargain hunter you are. Calculated annually per 100,000 residents. Privacy Policy. The cost of living in any area can vary based on factors such as your career, its average salary and the real. What your skills are worth in the job market is constantly changing. Many retirees live in Nashville and residents tend to lean liberal. Coming up with the cash for a down payment is the biggest roadblock for most home buyers. A good way to judge both the affordability of the housing and the cost of living in Nashville is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The tickets are expensive and add to my entertainment expenses, increasing my, The average cost of internet access in the U.S. is $66.20 per month. For example, the cost of living in San Francisco is twice that of Boise, Idaho. For others, it involves driving your car, and that means factoring in car repairs, gas, tolls and parking. So, I just wish we had more opportunities and were more knowledgeable about things outside of Nash County. You would have to earn a salary of $60,174 to maintain your current standard of living. Decreasing rapidly. Quality of life data (gyms, bars and beauty salons per 1,000 residents) were collected from the Yellow Pages. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. But even then, the price of groceries is going to significantly influence your cost of living. Based on that number, a maximum of $1,235 should be spent on expenses related to housing. . Crowdsourced data is a vital part of the Internet, help us become better! Entertainment: A movie ticket, a pint of beer, box seats at a baseball game they can all come with a different price tag depending upon where you live. Niche ranks thousands of places to live based on key statistics from the U.S. Census and expert insights. Also, with us being a small town located in the Bible Belt, I feel as if diversity is extremely low and ignorant is at an extreme high. Here is a list of our partners. Costs of goods and services are declining. Copyright 2009-2023 Numbeo. Americans spend nearly the same amount each year on entertainment as they do on health insurance, according to the BLS. Poor. Increasing steadily. The cost of living is 0% lower in Raleigh, NC. Proximity to employment is an important consideration because it can drastically impact your cost of living. Terms of Use and : This data reflects 2022 and was released from. Rent contributes to a large part of the overall, Looks for areas of Charlotte, North Carolina where there is a large student population. Price collection by city is conducted in strict conformance with standard specifications at specified times.