Cost of Living in Nashville, TN [2024]

Nashville, Tennessee, is a music mecca, especially for fans of honky-tonk country music. Not only is the city the birthplace of many country music legends, but it's also got a lively culture of its own.

This might sound like a dream for many prospective renters looking for a new city to call home. However, you should consider a few things before moving to Nashville.

The cost of living in Nashville is generally more affordable than that of similar metropolitan areas. However, just because it's more affordable doesn't mean that all prospective renters will be able to afford to live there.

To determine whether Nashville's cost of living fits into your budget, you'll need to have an in-depth understanding of what those costs look like. Here's everything you need to know about the cost of living in Nashville, Tennessee, and how you can get the most bang for your buck in Songwriter's City.

Cost of Living in Nashville

What Is the Cost of Living in Nashville?

Nashville rents were once considered a bargain, but have been skyrocketing for several years. As the home of “Music City,” Nashville is a desirable place for newcomers. Currently, the average cost of living in Nashville is a little over 4.7% higher than the national average. For a major city, that’s relatively affordable compared to Atlanta or Miami.

Where Is the Cost of Living Highest in Nashville?

Nashville is home to exclusive areas with a high cost of living to match the lifestyle. If you want to live in Downtown Nashville, you’ll spend around $2,200 for a one-bedroom apartment. Make sure your apartment is worth the higher rent with proximity to nightlife, public transportation, or upscale amenities.

Where Is the Cost of Living Lowest in Nashville?

If you want to save on rent, there are still areas of Nashville that are relatively affordable. Neighborhoods like Haynes Park have rents starting as low as $1,000. If you want to live closer to work or urban amenities, you can always look for roommates to save on rent.

How Much Is Rent in Nashville?

Looking at our data as of July 2024, we found the current average rent for a one bedroom apartment in Nashville is $1,714 a month. Nashville currently ranks #23 out of 75 cities with the highest cost of living. If you’re thinking about moving to cities near Nashville, here’s what you should expect to pay in rent each month, according to its size.

How Much Is a 1-Bedroom Apartment in Nashville?

If you’re looking to make a move to Music City to soak up the music scene, nightlife, strong job market, and access to outdoor recreation, you’ll spend an average of $1,672 a month for a one-bedroom apartment. Based on our most recent data, all of Nashville' average rents are showing a decrease month-over-month.

How Much Is a 2-Bedroom Apartment in Nashville?

Our latest data shows that if you want to rent a two-bedroom apartment in Nashville, you’ll spend an average of $2,192. The overall rent growth in Nashville currently ranks at #29 among the largest cities throughout the country.

What Salary Do You Need to Live in Nashville?

When you move to Nashville, try following the 30% rule. Using this rule helps establish a baseline for living a comfortable lifestyle in Nashville by only spending 30% or less of pre-tax income toward housing costs.

The average rent for a one-bedroom apartment in Nashville is currently $1,714. If you want to live comfortably and afford your rent, you should earn at least $68,560 a year, $5,713 a month, or around $32.96 per hour.

Of course, that figure should serve as a baseline. You may need to cut costs to live the lifestyle you want or make room for student loan repayments. Renting a studio apartment can help or finding a roommate to split costs.

It’s also a good idea to look over MIT’s “living wage” calculation for Nashville that looks at different factors. The living wage is the bare basic wage you need to survive in Nashville. Their data shows a minimum wage of $23.68 an hour or around $49,254 a year. a year for one adult. A family of two adults with a child would need $36.57 an hour, or $76,066 to get by in Nashville. The living wage is what you would potentially need to survive. It does not take into account student loans, emergencies, savings, or any extras.

The job market in Nashville is ranked among the top 5 metro areas in the nation. You can also look at the average salary in Nashville. According to the U.S. Census Bureau estimates the household income in Nashville is $71,328, which is slightly below the national average of $74,580. However, it’s well above the living wage and the 30% rule for an average one bedroom apartment.

How Much Are Utilities in Nashville?

Your utilities when you live in Nashville will depend on your usage, the season, and what’s included in your rent. However, based on data from Numbeo, utility bills in Nashville run an average of $167.18 for water, cooling, heating, garbage, and electricity. Including extras like mobile service and Internet service with 60 Mbps or More, Unlimited Data, Cable/ADS will bring that figure up to 306.56 a month. You should expect to pay more during a hot, Tennessee summer.

Keep in mind, this number only fits in this specific circumstance.

In some cases, your landlord may include your utility costs in the rent. In this case, you'll have a single bill to worry about on a monthly basis. However, this setup can also mean that you'll see an inflated rent price. So, if you're looking for an affordable Nashville apartment, tread carefully.

How Much Is Child Care in Nashville?

Childcare costs are expensive everywhere, and Nashville is no exception. MIT’s latest data shows you’ll spend around $$9,210 for the annual cost of one child care in Nashville. For two children, you’ll spend around $18,419.

Some areas of Nashville may prove more expensive for childcare than others. It’s important to start looking for care early and get on wait lists. Any affordable daycare option will likely fill up early and require a deposit. Getting creative with part-time child shares and creative work hours with your partner or another parent can help offset the costs.

How Much Is Transportation in Nashville?

Transportation in Nashville can be a bit of a challenge, especially if you're considering an apartment that lies outside of Downtown Nashville. The streets are overtaken by thousands of residents that own personal vehicles.

So, wherever it is that you plan on going, don't expect to get there quickly. The traffic-ridden streets will certainly slow you down.

Public transportation in Nashville is handled by the Nashville Metropolitan Transit Authority (NMTA). It offers bus services to residents and private paratransit services for passengers with disabilities. A one-way ticket costs $4 for an adult passenger or about $65 per month.

Nashville has no other public transit service beyond its bus lines. A referendum to add a railway and expand busing services was voted on in 2018, though residents quickly shot it down.

This is partially due to the lack of effective traffic decongestion that the plan would have provided, especially because it didn't include service to the sprawling suburbs on the city's outskirts. Additionally, it would have significantly increased taxes for residents.

Since there are no railway plans for the future, and bus service is limited, it might be ideal to own a vehicle or bike, as your preferred mode of transportation.

How Much Are Groceries in Nashville?

Nashville is a dining paradise and requires its own budget. Of course, you can do it cheaply. According to the MIT living wage estimates a single adult spends an average of $4,687 per year on food. If you’re a family of two adults and a child, you’ll spend $10,362.

If you moved to Nashville to eat your way through the city, expect to spend at least $18 per meal at an inexpensive restaurant without any extras. However, if you want to enjoy a meal with someone else at a mid-range restaurant, expect to pay $75 plus tip for a three-course meal.

Nashville Fitness & Entertainment

You've moved to a great new city, so why not enjoy everything it has to offer? Regardless of your personal entertainment preferences, there's something to do for everyone in Nashville.

According to SeatGeek, the average cost of a concert ticket in Nashville is anywhere from $34 to $601, depending on the artist and the venue. Whether you decide to pay less for the nosebleed seats or more for the front row is up to you.

There are a plethora of venues in the Music City famed for country music tunes and legends. Ryman Auditorium is one of the largest and oldest venues, one that many artists fight to book. For larger shows, expect to jam at Nissan Stadium.

To stay fit you’ll need to spend an average of $49.14 per month, or $589.68 per year, per adult. Keep in mind, many gyms have implemented application and first-time membership fees that may increase your costs.

If you don't mind the investment, many gyms are also offering completely virtual memberships that’ll enable you to follow along with various fitness classes from your home.

Outdoor recreation is always free, minus the cost of equipment. Luckily, Nashville has tons of outdoor recreation options that you can enjoy throughout the year.

Percy Warner Park, which is composed of two massive parks separated by a street, is one of Nashville's most popular parks. The parks span 3,100 acres, making it the second-largest park in the state.

You'll find trails for running, walking, and biking. There are two full golf courses, a dog park, and sports fields, not to mention access to several hiking trails.

Of course, this is only one park, and there are tons more in the city. You can enjoy a full day of fun without paying a cent.

Find Your Next Apartment in Nashville

Making a move to any city can be challenging. However, the biggest challenge is determining whether you can afford to move to the city of your dreams.

That's why it's essential to create an accurate budget that accounts for all expenses. Not only will this put you in a better financial position, but it enables you to plan ahead to meet your financial goals well before making the move.

Once you've got the budget in place, the next big task is finding the right apartment. Luckily, Apartment List is here to help! Just get started with our quiz to find your dream Nashville apartment.

FAQs: What to Know About the Cost of Living in Denver 2024

How expensive is an apartment in Nashville?

A one-bedroom apartment in Nashville costs $1,283. A two-bedroom apartment in Nashville costs $1,446.

Where is the most affordable place to live in Nashville?

To save on rent in Nashville, you can still find relatively affordable neighborhoods. For instance, rents in Haynes Park start at around $1,000. If proximity to work or urban amenities is important, consider sharing a place with roommates to cut costs.

What is the average electric bill in Nashville?

According to Numbeo, the average electric bill in Nashville is currently $167.18 but can change depending on the season, especially during a hot Tennessee summer. You can also read our resource on how much the average utilities are to better understand the trye costs of renting an apartment.