These Tennessee cities have the most and least costly household expenses. See where your city ranks.
This article originally appeared on Columbia Daily Herald
Author: Liz Kellar
Tennessee continues to score big as one of the top places people are moving to, primarily due to economic factors but also due to its climate, both environmental and political. Affordability, of course, is a big draw, with Tennessee typically costing much less than other states, especially on the West Coast.
According to a report looking at household expenses released by bill-paying platform Doxo, Tennesseans on average spend 10% less than the national average. Tennessee residents, overall, get a good deal on their bills: the state ranks 36th out of 50 states in terms of average monthly spending.
But not every town in Tennessee is a bargain, with a number of towns − especially on the Nashville outskirts − ranking above the national average.
But what is the most expensive place to live in Tennessee? The answer might surprise you. According to Doxo, Memphis suburb Germantown came in at No. 1, ahead of Nashville-adjacent Brentwood.
How do key living expenses break down in the Volunteer State?
Doxo offered some key insights about Tennessee’s household expenses, with a close eye to how bills differ in towns and cities across the state.
The data, which Doxo has for 92 towns and cities in Tennessee, looks at total amount spent on bills per month in each of these cities, and also breaks down bill payments into 10 different categories, including utilities, auto loans and cable bills.
The average Tennessee household pays $1,841 a month for the 10 most common household bills.V
Rent and mortgage expenses drive savings, with both being considerably lower than the national average. The average mortgage payment in Tennessee is $1,184, and average rent is $989, compared to the national average mortgage bill of $1,321 and rent bill of $1,191.
Health insurance also is more affordable in Tennessee. While U.S. residents on average spend $120 per month on health insurance, in Tennessee they spend just $90.
How do expenses in Tennessee compare to national costs?
- Tennessee’s household expenses, on average, are 10% lower than the national average of $2,046.
- Tennessee ranks 36th out of 50 states in terms of average monthly spending.
- Tennessee households spend 39% of their income on household bills.
- Annually, Tennessee residents pay $55 billion in household bills.
Germantown tops list of most expensive cities for Tennessee
Residents of Germantown pay the highest household bills in the state of Tennessee, at an average of $2,843 per month. Germantown residents’ bills are 38.9% more, nearly $10,000 more per year, than the U.S. average. Brentwood comes second in the rankings, with residents paying $2,798 on average per month.
Of the top 10 cities on the list, six are in the Nashville region − Brentwood, Franklin, Spring Hill, Lebanon, Mt. Juliet and Old Hickory − while four are near Memphis − Germantown, Collierville, Arlington and Cordova.
Monthly expenses per household:
- Germantown, $2,843
- Brentwood, $2,798
- Collierville, $2,762
- Franklin, $2,599
- Arlington, $2,459
- Spring Hill, $2,426
- Lebanon, $2,292
- Mount Juliet, $2,256
- Cordova, $2,243
- Old Hickory, $2,229
Bristol is the most affordable Tennessee city for household bills
Out of 92 cities and towns, Bristol is the most affordable place in Tennessee, with residents paying $1,234 on average for household bills. Household bills account for 35% of local income in Bristol. Greeneville comes in at the second most affordable town or city in Tennessee, with residents paying $1,320 per month on average.
Many of the most affordable cities in the top 10 are in East Tennessee, with four in or near the Tri-Cities area: Bristol, Bluff City, Blountville and Erwin.
Monthly expenses per household:
- Bluff City, $1,435
- Blountville, $1,418
- La Follette, $1,417
- Jamestown, $1,392
- Savannah, $1,384
- Erwin, $1,357
- Rogersville, $1,330
- Crossville, $1,327
- Greeneville, $1,320
- Bristol, $1,234