Business Magazine

Tennessee Has One Of The Lowest Costs Of Living For The 2nd Quarter Of 2017

By Knoxvillehometeam @KnoxHomeTeam

Did you know that Tennessee has one of the lowest costs of living in the country?

Tennessee ranked #3 in the country for the lowest cost of living in the 2nd Quarter of 2017, according to a list compiled by MERIC [Missouri Economic Research and Information Center]. The list compiled by MERIC takes a look at a state’s overall costs of living. They explore all aspects including the costs of groceries, housing, utilities, transportation, health, among other things.

The top 10 states with the lowest costs of living were as follows:

  1. Mississippi
  2. Arkansas
  3. Tennessee
  4. Kansas
  5. Oklahoma
  6. Missouri
  7. Michigan
  8. Texas
  9. Georgia
  10. Alabama

Tennessee is one of the few states where there is no state income tax. This allows paycheck in Tennessee to go a long way. In addition, with a low cost of living, each paycheck goes even further. Unfortunately, though, residents of Tennessee pay a higher sales tax as a trade-off to the no state income tax.

The low cost of living is just one of the many reasons it’s great to live in Tennessee. Residents enjoy a mild climate, but still get to experience 4 full seasons. Tennessee also has a thriving economy and many things to do.

This is not the first time that Knoxville has topped a national ranking list in recent years. Here are a few other lists that Knoxville has topped in recent years:

Are you thinking about buying a Knoxville home in 2017? Please let us know if there is any way that Knoxville Home Team can assist you. Rick can be reached at 865-696-9002 or via email at [email protected]. Kati can be reached at [email protected]. Also, be sure to check out our Knoxville Home Search Page

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