Thanks to its solid music industry, lively culture, and expanding job market, Nashville, Tennessee, is one of the fastest-growing cities in the United States. As more individuals move to "Music City," the cost of living increases. If you're considering moving to Nashville, knowing the costs associated with many facets of daily living is critical.
Nashville Housing Costs
Housing is one of the most significant costs, and Nashville is no exception. Nashville's housing market has grown significantly in recent years, even if it is less expensive than extensive metropolitan areas like New York or Los Angeles.
Renting an Apartment
If you want to rent, a one-bedroom apartment in Nashville's city center would likely cost you between $1,500 and $1,800 monthly. The rent for the same apartment in a suburban neighborhood or away from the city area might be between $1,100 and $1,400. Even more expensive are two-bedroom apartments, which can cost anywhere from $1,800 to $2,300, depending on the facilities and location.
Buying a Home
Nashville's real estate market is still competitive if you're in the market to buy a house. The average cost of a property is roughly $500,000. However, in highly desirable neighborhoods, prices might well exceed these ranges. Property prices have increased due to the city's rapid growth, even if many communities provide affordable options.
Utility Costs
Nashville's utility expenses vary with the season, particularly during the hot summer when more air conditioning is needed. Monthly utility costs for a typical apartment consist of garbage collection, water, heating, cooling, and power. These costs typically range from $150 to $250. Planning for variable utility expenses is crucial because hot summers and cold winters can cause these numbers to rise.
Grocery Prices
Nashville's grocery costs are around the same as the national average. However, they might be a little bit more because of the city. Depending on food preferences and shopping habits, a single person's monthly grocery budget can range from $300 to $450.
The monthly cost of groceries for a family of four can vary from $700 to $1,000, especially if they shop at upscale supermarkets or choose organic foods. Several inexpensive grocery options exist, including companies like Kroger, Aldi, and Walmart, for individuals looking to save money.
Transportation Costs
Although some public transportation alternatives in Nashville are limited compared to other major cities because the city is car-centric, if you drive a car, you must pay for maintenance, car insurance, and gas.
- Gas Prices: Nashville's gas prices typically follow the national average, yet they are subject to change based on the state of the market. You should budget roughly $3.50 per gallon for gas.
- Public Transportation: The Nashville Metropolitan Transit Authority (MTA) provides bus services throughout the city. The system is not as extensive as in other major cities, though. Public transportation is a more inexpensive option for people who live and work along main routes because a monthly bus pass costs approximately $65 to $70.
Healthcare Costs
Nashville's healthcare costs are close to the national average and generally acceptable. However, individual coverage plans and providers will affect out-of-pocket expenses and health insurance rates.
Expect to pay between $100 and $150 for a regular doctor's appointment without insurance; more extensive services will cost more. Planning for life in Nashville usually involves considering healthcare costs.
Dining Out and Entertainment
Nashville is well-known for its diverse entertainment and culinary scenes. There are many things to do in Nashville, including enjoying excellent food and live music or touring the city's historical sites.
- Dining Out: A mid-range three-course lunch for two at a fancier restaurant will cost you between $60 and $80, whereas a meal at an affordable restaurant usually costs you between $12 and $20. Additionally, it is widely accessible, and fast food is reasonably priced, with most costs falling within the national average.
- Entertainment: Nashville's thriving entertainment industry draws both locals and visitors. While ticket prices for athletic events, concerts, and festivals vary greatly, most events typically run between $20 and $50 per person. Music fans can enjoy inexpensive nights out since many bars and venues host free live music concerts.
Unrelated Expenses
Other expenses when living in Nashville are phone bills, internet, and fitness memberships. While internet access costs typically between $50 and $80 per month, depending on the speed and provider, a mid-range gym membership usually costs between $40 and $60.
Final Thoughts: Is Nashville Affordable?
With its distinct blend of Southern charm, thriving employment market, and thriving music industry, Nashville offers a bustling lifestyle. It makes sense that the city still draws visitors from all walks of life. Nashville's cost of living has increased recently due to increased demand and rapid growth, even though the city is still less expensive than significant metropolises like San Francisco or New York.
Weighing the pros and cons is crucial before making the decision. Additionally, Nashville has a vibrant cultural scene, many outdoor activities, and employment options. In addition, compared to larger cities, housing and daily expenses remain comparatively lower. On the downside, finding cheap housing may become more difficult due to growing housing costs and traffic, particularly if you wish to reside close to the city center. You can take advantage of Nashville's offers by making advance plans and sensible financial decisions without breaking the bank.
If you're ready to make Nashville your new home, Smooth Moving & Storage is here to help. Whether you're moving locally or from out of town, our expert moving services will make the process go smoothly without any worry. Allow us to handle the headaches of your move so you can concentrate on taking advantage of all that Nashville has to offer.