Let’s crunch some numbers, shall we? | Photo by Mike Gattorna via Unsplash
With Nashville constantly growing and undertaking multiple high-profile developments this year, we figured it was time to talk about the cost of planting some roots in Music City.
The median household income in Davidson County is $71,328, according to the US Census Bureau. State-wise, Tennessee is No. 42 in the country for median income at ~$59,695 per household.
The overall cost of living in Nashville is higher than the national average and higher than the rest of the state.
The overall cost of living in Nashville is higher than the national average. | Screenshot via bestplaces.net
In Nashville, the cost of healthcare is lower compared to other parts of the state and the US. However, the cost of groceries, housing, transportation, and other miscellaneous expenses in the city have higher average costs than other cities in Tennessee and the country overall.
Breaking down the numbers
Hypothetically speaking, if you live in a household that brings in $71,000 annually, your max monthly budget for rent and utilities would be about $1,775 (30% of your monthly gross income). The average monthly rent for an apartment in Nashville is $1,744 — leaving you little to no wiggle room.
Meanwhile, if you’re wondering how much you can currently afford to spend on buying a home in Nashville, try using SmartAsset’s cost calculator.
Factors like your marital status, annual pre-tax income, down payment, and monthly debt will help determine that figure. According to BestPlaces, the median home cost in Nashville is $413,200.
Interested in seeing Nashville’s cost of living compared to cities in other states? Click the button below to see our results from playing around on NerdWallet’s cost of living calculator.
What would you tell someone considering moving here about the cost of living?
A. This is a really affordable city to live B. Prices are reasonable - not exorbitant, not cheap C. Prepare yourself for sticker shock - it’s expensive
Las Palmas Anniversary Party | Tuesday, Aug. 20 | 11 a.m.-9:30 p.m. | Las Palmas Mexican Restaurante | Cost of purchase | Celebrate 34 years of the restaurant with half-off dine-in food orders at all locations — excludes alcohol.
Earth, Wind & Fire and Chicago | Tuesday, Aug. 20 | 7:30 p.m. | Bridgestone Arena | $31+ | The bands are teaming up for an unforgettable night of jams on the co-headlining “Heart & Soul” tour.
Wednesday, Aug. 21
ACM Honors | Wednesday, Aug. 21 | 6:30 p.m. | Ryman Auditorium | $202+ | Jordan Davis and Carly Pearce host the awards show, which features performances by Eric Church, Vince Gill, Emmylou Harris, Keith Urban, and more.
Thursday, Aug. 22
Dollar Days | Thursday, Aug. 22-Sunday, Aug. 25 | 10 a.m.-6 p.m. | Smart Art + Craft Supplies | Cost of purchase | Every item storewide is $1 or less for four days only.
Happy Together | Thursday, Aug. 22 | 7:30 p.m. | Ryman Auditorium | $67+ | The touring show features performances by The Turtles, Jay & The Americans, The Association, Badfinger, The Vogues, and The Cowsills.
Friday, Aug. 23
Songwriters Under the Stars | Friday, Aug. 23-Sunday, Aug. 25 | 7-10 p.m. | Cheekwood | $75+ | Wendell Mobley, Kelly Archer, and Lee Thomas Miller will be accompanied by the Music City Symphony.
Saturday, Aug. 24
Yoga with Senior Dogs | Saturday, Aug. 24 | 12:30 p.m. | Old Friends Senior Dog Sanctuary | $15 | Enjoy this all-levels gentle flow yoga class while dogs from Old Friends Senior Dog Sanctuary wander around your mat.
Plan Ahead
Nightfall at the Hall, presented by Maverick Nashville Management | Monday, Sept. 16 | 6-9 p.m. | Country Music Hall of Fame and Museum | Free | Country music superstar Jordan Davis headlines this after-hours Troubadour Members party, which includes cocktails + light bites.*
E+ROSE opened a new location in Germantown’s Neuhoff District. The cafe at 1320 Adams St. serves juices, smoothies, and plant-based eats. To celebrate the new spot, E+Rose is hosting free community workouts on Wednesdays at 7 p.m. — bookmark the schedule.
Closing
Vui’s Kitchen is closing its Nolensville location after Sunday, Aug. 25, the owners announced on social media. The restaurant will continue operating in Berry Hill, East Nashville, Franklin, and Gallatin.
Concert
“Nashville” cast members Clare Bowen, Charles Esten, Jonathan Jackson, and Sam Palladio will reunite for another Music City performance following last year’s reunion tour. The show takes place at Ryman Auditorium on Saturday, Nov. 23. Tickets go on sale Friday at 10 a.m.
Sports
Vanderbilt Commodores fans can expect a few updates this football season with ongoing construction around FirstBank Stadium. Look forward to a new video board and sound system in the north end zone, access to both sides of the stadium, and new food offerings.
Listen
Thomas Rhett will sign copies of his new album, “About A Woman,” at Grimey’s on Tuesday, Aug. 27 at 12 p.m. A wristband is required for entry and is included with local store pickup preorders for CDs and limited edition white vinyl LPs.
Try This
In case you missed it, Lower Broadway will transform into a dirt bike course for the world’s top hard enduro riders on Thursday, Aug. 22. Look back at our Red Bull Tennessee Knockout Prologue event preview for area road closures + how to watch.
Number
22%. That’s how much auto insurance rates have increased over the last year. Stop overpaying + find a better rate when you get a free, no-obligation quote from Savvy.*
Development
What’s next for 2nd Avenue?
Plans revealed for Nashville’s Old Spaghetti Factory building
The Old Spaghetti Factory operated out of the 2nd Avenue space since 1980. | Photo via T2 Capital Management
The 2nd Avenue building long occupied by The Old Spaghetti Factory and vacant since the 2020 Christmas Day bombing is now set for redevelopment.
Real estate investment firm T2 Capital Management plans to transform the four-story building at 160 2nd Ave. N. into 50+ residential condominiums, now permitted for short-term rentals following a recent zoning change.
What’s in store
Upon completion, the development will consist of six stories and 70,000 square feet — that’s two additional floors and 20,000 sqft more than the current structure.
T2 plans to restore the building’s 10,000 sqft of retail space, though its future tenant(s) has yet to be announced.
The existing underground parking structure will remain + be available to condominium buyers.
T2 plans to break ground on property renovations in mid-2025 and complete the project in 2026.
The Buy
The Buy 8.20.24 (Affiliate)
A laundry hamper cabinet. This easy-to-assemble space-saver comes complete with a hidden compartment for the laundry hamper, as well as a drawer and shelves that are functional storage solutions.
Jingle bells might not be ringing just yet, but the Schermerhorn Symphony Center added two performances to its slate of holiday programming — “Elf in Concert” (Dec. 3) and Holiday Brass Spectacular (Dec. 15), both presented with the Nashville Symphony. Tickets go on sale Friday.
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