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Cost of Living in Nashville-Davidson metropolitan government (balance)

Is it better to rent or buy in Nashville-Davidson metropolitan government (balance)? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$82,746
$1,629/mo

Median in area: $1,629

$469,272

Median in area: $469,272

$93,854

If you Rent

🔑
$1,800 /mo
Base Rent$1,629
Est. Utilities$171
% of Income26.1%
Pre-tax Residual$5,096

If you Buy

🏠
$2,887 /mo
P&I (6.5%)$2,373
Taxes & Ins$343
Est. Utilities$171
% of Income41.9%
Pre-tax Residual$4,009

Cost of Living FAQs

Is it cheaper to rent or buy in Nashville-Davidson metropolitan government (balance)?›

Based on median housing data, renting is currently more affordable on a monthly basis in Nashville-Davidson metropolitan government (balance). The estimated all-in monthly cost for renting is $1,800, while owning a median-priced home with a 20% down payment is roughly $2,887 per month (a difference of $1,087).

How much do utilities cost in Nashville-Davidson metropolitan government (balance)?›

The average monthly utility cost (electricity and natural gas) for a typical home in Nashville-Davidson metropolitan government (balance) is approximately $171. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Nashville-Davidson metropolitan government (balance)?›

To comfortably afford the median rent and utilities in Nashville-Davidson metropolitan government (balance) without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $72,000 per year.