In the past couple of years, we’ve noticed a major influx of out-of-state people moving to Tennessee. It’s a fantastic place to live; Tennessee enjoys all four seasons, beautiful landscapes, and tons of things to do. However, the most convincing aspect is the low cost of living. In fact, Tennessee was just named the second most affordable state to live in by CNBC’s Make It!
Tennesse’s low cost of living translates in many aspects; let’s start with the housing market. This state’s typical home value is on the lower side – around $250,000 as of 2021, while rent for apartments averages around $905. In addition to your house payment or rent, utilities are a necessity. Utilities come to an average of the following: electricity is $126, gas is $100, cable/internet is $122, and water is $43.
What else can’t you live without? Food & transportation, of course! The average grocery bill is $250/month – plus whatever you choose to spend while eating out at restaurants. Transportation on the other hand ranges in a big way. Between Uber, car payments, bus fare, etc., this can vary a lot. Most Tennesseans spend from $5,113 to $13,896.
Tennessee is known for being a very tax-friendly state, as well. There’s no income tax, low state sales tax, and the lowest property tax in the USA! Learn more about the amazing taxes by reading our blog.
Moving is starting to sound pretty good, right? In the heart of Tennessee, you’ll find WindRiver, a gated lakefront and golf community with beautiful homes and luxurious amenities. If WindRiver piques your interest, we encourage you to book a discovery tour. Learn what Tennessee has to offer by spending a weekend living like a WindRiver resident, and see why this is the premier destination to retire in style.