Guide To Know Average Cost of Living in Nashville

Guide To Know Average Cost of Living in Nashville
Nashville is known as a foodie paradise with Southern cuisine mixing with ethnic influences in the Music City. Can you afford it? We've put together a detailed guide to living costs in Nashville, the average combined cost of electricity, heating, cooling, water, etc.

As you start looking at your relocation options, it’s likely that you’re going to try and find something that is going to make sense in regards to the situation you’re dealing with. In many instances, you’re going to find that there are a lot of different cities that you’re going to want to look at, especially if there’s work there.

Nashville, Tennessee, has become a really popular place for people to live, work, and visit throughout their lives. Because of that, you may be looking at just how much it’ll cost you to move there and live there in the long run.

So, what is the cost of living in Nashville? How much will it cost to live there and what should you expect if you do live there? What sorts of things do you need to budget for and how are you going to be able to pay for everything? Here’s our guide to help you sort out all of that information.

Why Move to Nashville?

There are all sorts of reasons to move to Nashville, no matter who you are. For one, raising a family in Music City USA is a big deal. There are all sorts of things to do, and the schools are some of the best in the state. They have a lot of funding going to them, which allows for all sorts of opportunities that kids may not have in any other context.

If you enjoy sports at all, Nashville is great place to be, as they have both the Tennessee Titans and the Nashville Predators both call Nashville their home, and their sporting events are a ton of fun. On top of that, the local colleges and universities (Belmont and Vanderbilt, in particular) have great sports programs.

Obviously, if you love music, then you are going to love being in the city. It’s the home of a number of recording companies, and there are all sorts of people that you can meet and interact with in that context.

Lastly, there are all sorts of opportunities for employment throughout Nashville and the surrounding areas as well. Nissan’s factory is located in Nashville, and there are a handful of Fortune 500 companies here, including Tractor Supply, Dollar General, and several medical organizations. That means that jobs are plentiful and that it’ll be fairly easy for you to find a job in pretty much any context that you may want to do so.

All in all, if you love the south, you enjoy music, you want a great place to raise your kids, or you enjoy nature, then Nashville is a pretty solid place to consider when it comes to relocation. There are all sorts of opportunities available throughout the city, which means that you can really enjoy everything that you can have.

How Much Will It Cost to Move to Nashville?

If you’re moving more than 100 miles in your trek to Nashville, then your state to state movers will be charging you based on how many miles you go and how much stuff that you have. On average, long distances moves in the United States are $1,500 to $3,500, with that number rising as you go past 3 bedrooms or past 1,000 miles in distance.

There are alternatives – you can move yourself or you can just load up your vehicle and take what you can fit. But, in any instance, you need to be sure that you budget things out and figure out potential costs by getting quotes from movers or rental places.

How Much Does it Cost to Rent in Nashville?

Rental costs within the city limits of Nashville are going to average between $850 per month for a studio or one bedroom apartment, all of the way up to $1850 (average) for a four bedroom home or condo. Downtown costs are going to be a little higher, but as you move further out into the city, the costs are going to go down a bit. 

If you have never rented before, that may sound like quite a bit. It’s actually not much more than the national averages for those same homes. It is higher than some other parts of Tennessee, but that shouldn’t be surprising because of all of the rural areas found throughout the entire state.

How Much Does a Home Cost in Nashville?

Home costs are going to vary based on exactly where in the city that you decide to live. The average home cost throughout the entire metropolitan area falls at about $262,000 for purchasing a home. The average cost of buying a home throughout the United States is just above $300,000, so Nashville ends up being a relatively affordable place to find a home to buy.

Some of the suburbs are around the same in terms of home price averages. There are a handful of neighborhoods just outside of the city that are more expensive, so you may be looking at an average of $400,000+ for a home.

Entertainment, Utilities, and Food

Obviously, cost of living is more than just buying a home. Utilities in the city end up being between $100 and $300 per month, based on the size of your home and what utilities you end up using in your space. Internet is also fairly affordable, falling around $70 per month for your home.

If you’re going out to eat at an inexpensive restaurant, you’re likely paying between $10 and $35 for the whole meal, depending on the size of your family and how much you like to eat. Fancier meals aren’t going to be outrageous either, with the average cost of a 3 course meal for 2 falling at about $75.

Groceries are on average with the rest of the country – about $3 for a gallon of milk, white bread averaging at $2, and eggs costing around $1.50 to $3 (based on size and weight). Groceries are fairly accessible, with stores throughout the city, so many people can go to a neighborhood market and get what they need easily. Most people end up spending around $200 a month on groceries.

Based on all of this information, a family of four can reside comfortably in Nashville for $3,000 to $5,000 a month, depending on their rental or home costs and what we’ve discussed above. Economists estimate for that a family to live comfortably and have savings, they should make somewhere around $72,000 a year in order to cover all of that. 

In terms of entertainment, there are all sorts of different things to do in the city. Nashville is called Music City, USA for a reason – it’s not just the home of country music, but all other sorts of music as well. As a result, there are always concerts and other large scale events going on throughout the city, and some of them are relatively cheap for locals. Festivals and other celebrations are also common, so you’re sure to find something fun that you can do and enjoy with family and friends. 

There are a lot of parks around the area and, once you leave the metro area, you have all sorts of outdoor spaces to enjoy and explore. If you love nature, you don’t need to go far in order to find it and enjoy it. You can spend the weekend in a cabin or camping, or you can go on a day hike and still be back in time for dinner. You get the best of both worlds if you live in Nashville.

Frequently Asked Questions

Should I live in the suburbs instead of the city?

That’s totally up to you. The city has plenty of affordable places to live, as do the suburbs. It all depends on what it is that you’re looking to do in the city, where you’re working, and where you would like your kids to attend school. If you have that sorted out, it’s easier to figure out where you want to live.

Are there other areas of Tennessee I could consider?

There are a number of small cities throughout Tennessee that have similar or lower costs of living than the home of country music. Mount Juliet, Murfreesboro, Knoxville, and Germantown are some of the most popular places to live. There are so many beautiful places to live throughout the state that you’re sure to find somewhere that you love!

Are there cities comparable to Nashville in terms of size?

Nashville is actually one of the more populated places in the entire United States, having just made its way into the top 25 most populated cities. With a population of around 670,000 people, the size of Nashville is comparable to cities like Portland, Oregon; Oklahoma City; Detroit, El Paso; Seattle; and Washington D.C.

Moving to Nashville Now

Nashville is a lovely place and there are a lot of different considerations to be made in regards to whether or not it’s right for you. If you look at the cost and sort out what you think is best, you’ll find that it’s that much easier to figure out if it’s the right place for you to move to.