Relocating to Tennessee has increased 12% since 2019, according to U-Haul’s Annual Migration Trends Report. So, what makes Tennessee an ideal place to relocate? Tennessee is known for its low cost of living, business-friendly culture, mild climate, and variety of beautiful landscapes. There are many cities, rural towns, and suburbs around the state, so you can find the perfect fit for you!
But how will moving affect you? We’re breaking down the benefits of relocating to Tennessee from Washington.
The Cost of Living in Tennessee vs Washington State
There’s a reason to relocate; Washington is approximately 18.5% more expensive than Tennessee. This is for everything you purchase on a day-to-day basis. Restaurants are 15.4% more expensive. Transportation is 15.8% more expensive than in Tennessee. Housing is 20.4% more expensive, and childcare is 35.2% more expensive in Washington. Overall, Tennessee residents are saving money in every aspect!
Difference in Taxes Between Tennessee and Washington
Again, there’s a financial reason to choose Tennessee over Washington: the tax benefits! Washington’s state taxes are 10.7% while Tennessee’s is only 7.6%. Tennessee has no income tax, no state inheritance tax, no personal property tax and has a very low real estate property tax. You can easily retire in style!
Moving to Tennessee also means buying a new home and choosing how you experience this new chapter of life. When choosing your new home, we hope you’ll think of WindRiver, a lakefront and golf community located in Lenoir City, Tennessee. At WindRiver, you are encouraged to build a custom home in this master planned, gated community. Residents enjoy the scenery of Tellico Lake and the Smoky Mountains while taking advantage of the on-site amenities including a signature golf course, elegant yet casual restaurant, and resort-style pool and sports complex. If you’re interested, please give us a call and schedule a Discovery Tour!