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Among the 10 larger Tennessee metros, BEA’s 2024 all-items price level runs from 85.5 in Jackson to 96.3 in Nashville (U.S. = 100), and the state as a whole is 91.9. The state’s housing-services index alone is 79.1.
- State Price Level91.9U.S. = 100, 2024
- State Housing Index79.1U.S. = 100, 2024
- Highest Metro96.3Nashville
- Lowest Metro85.5Jackson
- Nashville-Davidson–Murfreesboro–Franklin, TN96.3
- Knoxville, TN92.6
- Memphis, TN-MS-AR92.2
- Chattanooga, TN-GA91.5
- Clarksville, TN-KY90.9
- Cleveland, TN88.1
- Johnson City, TN87.9
- Kingsport-Bristol, TN-VA86.4
- Morristown, TN86.4
- Jackson, TN85.5
Source: BEA MARPP. A value of 94 means prices run about 6 percent below the national average. BEA compares price levels, not what any one household pays.
Price Level, Income, Rent and Home Values by Metro
| Metro | All Items | Housing | Median Household Income | Median Gross Rent | Median Home Value | Rent as Share of Income (Derived) |
|---|---|---|---|---|---|---|
| Nashville-Davidson–Murfreesboro–Franklin, TN | 96.3 | 104.6 | $85,447 ±984 | $1,528 ±16 | $409,600 ±2,934 | 21% |
| Knoxville, TN | 92.6 | 82.8 | $72,422 ±976 | $1,145 ±15 | $290,200 ±3,868 | 19% |
| Memphis, TN-MS-AR | 92.2 | 79.8 | $66,401 ±885 | $1,220 ±11 | $245,900 ±2,502 | 22% |
| Chattanooga, TN-GA | 91.5 | 76.5 | $72,161 ±1,254 | $1,163 ±19 | $272,400 ±4,303 | 19% |
| Clarksville, TN-KY | 90.9 | 73.8 | $68,967 ±1,231 | $1,207 ±22 | $253,300 ±5,539 | 21% |
| Cleveland, TN | 88.1 | 60.3 | $66,135 ±1,426 | $1,006 ±30 | $247,000 ±6,495 | 18% |
| Johnson City, TN | 87.9 | 63.2 | $57,762 ±1,796 | $939 ±21 | $219,200 ±5,494 | 20% |
| Kingsport-Bristol, TN-VA | 86.4 | 56.5 | $57,792 ±1,597 | $849 ±20 | $198,400 ±3,922 | 18% |
| Morristown, TN | 86.4 | 59.0 | $60,553 ±2,081 | $873 ±35 | $218,100 ±7,194 | 17% |
| Jackson, TN | 85.5 | 56.6 | $61,177 ±1,807 | $997 ±27 | $185,300 ±6,401 | 20% |
Each ACS figure is an estimate with a 90 percent margin of error, shown as ± beside it. Derived column: median rent x 12 / median household income, our own arithmetic, not a Census figure; the Census-published median rent burden is on the rent page.
Frequently Asked Questions
What is a regional price parity?
A BEA index of how prices in a place compare with the U.S. average of 100. The table gives each metro’s number.
Why are the Census figures different from the BEA index?
They measure different things. The Census figures are medians reported by households; the BEA index compares a fixed basket of goods and services across places.
Which metros are included?
Tennessee-based metros with BEA price data and Census estimates; metros that cross a state line are named with both states.
What We Could Not Confirm
- BEA publishes metro parities for metro areas only; towns and small cities have no BEA index, so smaller places appear only on the rent and home prices page.
- We do not give a cost-of-living figure for a household: no budget, tax or utility bill is modelled here.
Sources
- BEA regional price parities by metro, MARPP (2024)
- BEA regional price parities by state, SARPP (2024)
- Census Bureau ACS, B19013 median household income
- Census Bureau ACS, B25064 median gross rent
- Census Bureau ACS, B25077 median home value
Read on October 30, 2026. Each ACS figure is an estimate with a 90 percent margin of error, shown as ± beside it. How we check: editorial standards; spot a mistake? Tell us.
Cite this page: It's Tennessee, “Cost of Living in Tennessee by Metro”, itstennessee.com/living/cost-of-living-in-tennessee/ (updated ). By the It's Tennessee editorial team. Free to quote with attribution and a link to this page; data and tables are licensed CC BY 4.0.