Many consider Nashville one of the best cities in the country to live in – thanks to its countless entertainment options, growing job market, warm climate, and Southern hospitality.
But here’s the catch: The cost of living in Music City is steadily increasing. According to Payscale, Nashville’s living cost is 2% below the national average as of 2024. This is higher than in years past but still better than most major cities nationwide.
Since increasing prices can impact the quality of life in the city, it’s imperative to understand what goes into the cost of living in Nashville.
Housing Costs in Nashville
Housing makes up a considerable percentage of the cost of living in Nashville.
The aforementioned Payscale article also reports the median home price in Nashville is $478,419. The median cost to rent in Nashville is $2,300.
The monthly rent at HND Realty LLC’s Robinson Rowhouse Townhomes starts at $1,806, and the rent for our Timber Trail Townhouses starts at $1,781. Both of these options are below the median cost of renting in Nashville.
Utility Costs in Nashville
Owning or renting a home in Nashville comes with its fair share of utility bills.
These bills cover various essential services, including:
- Electricity
- Cooking gas
- Water
- Internet
- Security
An average Nashville household spends nearly 6.3% of their monthly salary on utilities.
Food Costs in Nashville
On average, Nashville residents spend $346 on food each month. Not bad, right?
Like in any city, the cost can vary, depending on where you make purchases. For instance, food items in a grocery or restaurant in Downtown Nashville can be expensive compared to if you buy outside the city center in areas like Old Hickory or Hermitage.
HND Realty, LLC’s Parkhaven Community, located in Hermitage, offers an elevated living experience for those aged 55 and up. This comfortable community offers easy access to the city while also allowing residents to reside in the comfortable ambiance of the suburbs.
Transportation Costs in Nashville
Using public transport can lower your cost of living in Nashville. WeGo Public Transit, the leading public transport provider in the city, charges an hourly rate of $2 for bus transportation. An all-day bus pass is only $4, while a monthly bus pass for 31 days is $65. For residents who travel long distances, the WeGo Star Train provides convenient trips between seven stations at $67.75 for a 31-day pass.
If you own a car, the average cost of auto insurance in Nashville is $1,597 per year. Gas prices vary, but on average, you can expect to pay $3.11 for a gallon of regular.
Childcare Costs in Nashville
Nashville’s childcare prices are 14% higher than the Tennessee average and 5% above the national average. On average, childcare in Nashville costs $19.87 per hour.
Entertainment Costs in Nashville
They don’t call Nashville the Music City for no reason. From the Grand Ole Opry to the bright lights of Broadway, if you’re looking for a show, you’re in luck.
Nashville also offers countless delicious restaurants that can fit any taste.
The average price for a night out in Nashville is $318.33, but you can have fun for much less if you choose.
There are also plenty of free things to do in Nashville for those on a budget.
Navigate the Cost of Living in Nashville With HND Realty, LLC
Discover the true cost of living in Nashville with HND Realty, LLC. Our expertise in real estate and property management ensures you get the most accurate and up-to-date information about the local market.
As trusted members of the Better Business Bureau, the Nashville Area Chamber of Commerce, and the Tennessee Association of Realtors, we are committed to helping you find the perfect home that fits your lifestyle and budget.
Ready to make the move?
Contact HND Realty, LLC today, and let us guide you to your dream home in Nashville!
