What is the Cost of Living in Chattanooga TN?
Are you thinking about moving into Chattanooga TN? That is a great life decision! However, before moving, it is advisable for you to have an understanding of the cost of living in the city. Primarily, the cost of living is the single most important factor to consider when moving into a new city. This factor can make or break your experience of the new place. So, let’s make it easier for you. We will show the details of the cost of living in Chattanooga TN below.
Generally, the overall cost of living in Chattanooga is about 3% lower when compared to the national average. With a few thousand dollars every month, you can survive in this city. As long as you live within your means, you will be fine. To determine the average, we consider certain factors. The average salary and real estate in Chattanooga are some of them. Others include utilities, transport, groceries and miscellaneous.
Breakdown of the cost of living in Chattanooga
For better understanding, let’s break down the cost of living. Housing is the number one factor to consider. In comparison to the national average, Chattanooga TN homes are more affordable. Similarly, it is more affordable than the average for the state. The national median home cost is about $231,000 while the median home price in Tennessee is over $164,000. Comparatively, that of Chattanooga TN is only around $150,100. So, you will pay less when buying a home in Chattanooga as compared to most other cities.
The same thing is applicable to rent. A studio goes for about $600 in the city. With around $700, you can get a 1-bedroom unit in Chattanooga. 4-bedroom apartment, on the other hand, can go for as low as $1350. Most of these apartments come with the basic amenities you need to enjoy your stay. Therefore, you can hardly have a problem with staying here.
Utilities are recurrent. Although they may not seem a lot, they accumulate to take a large chunk of your money. The good thing is that the utilities are not expensive in this city. In fact, they are 6% lower than the national average. This means you will be saving a lot on utilities every month.
Groceries are also paramount to living anywhere. Fortunately, buying groceries tends to be 7% lower than the national average. Transport is another vital area where living here is more affordable. Estimated to be 9% below the national average, transport is affordable in Chattanooga.
The final factor to consider is the health cost. Since health is slightly higher in Chattanooga than the national average, you will spend a little more on health here. However, the great health facilities in the city make up for this higher healthcare cost.
While the cost of living in Chattanooga is generally cheaper, each person differs. So, these estimates are just general. Each individual’s cost of living will vary according to the spending. For instance, if you buy a lot of groceries or waste energy, you may spend more on these things than someone in a more expensive city. Therefore, your cost of living still depends on you. But, this doesn’t change the fact that living cost is affordable in Chattanooga TN.