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Cost Of Living In Murfreesboro Tn
Last Updated on: November 7th, 2024
Murfreesboro is one of the rapidly expanding cities in the US. It is a place that its residents are proud to call home, and if you’re thinking of living in Murfreesboro Tn, you would be making one of the best decisions of your life.
Murfreesboro, Tennessee’s motto is “Creating a better quality of life.” And over the years, the city has lived up to that promise in several ways, particularly economically.
If the cost of living in Murfreesboro, Tennessee, bothers you a lot, you shouldn’t worry since this article will inform you of everything you need to know about the effects moving there will have on your finances.
Meanwhile, if you use the services of reputable and qualified movers Murfreesboro Tn, you may cut down on both the time and cost of your relocation.
How Expensive Is It To Live In Murfreesboro Tn?
Depending on your occupation, average pay, and local real estate market, the cost of living can change depending on where you live. However, the cost of living in Murfreesboro Tn is 5% cheaper than the country as a whole.
As a result, rental costs are lower than average on a national level. Depending on where you live, Murfreesboro, Tennessee, offers a wide variety of markets.
Additionally, residents spend more on utilities than the average American. First off, it’s noteworthy to observe that Murfreesboro has a 10% higher cost of living than other places in Tennessee. Second, Murfreesboro’s cost of living is 3% cheaper than the national average, while the cost of housing there is equivalent to the national average.
Murfreesboro Tn Cost Of living Breakdown
Regardless of whether you plan to buy a home there or rent one, we have researched and examined these few cost-of-living indicators to assist you in making the best choice.
1. Housing Cost
Murfreesboro’s housing costs are 6% less than the national average. Compared to the $231,000 national average, the community’s median home price is around $250,000.
Given that the median price of a home in Tennessee is $165,000, choosing a neighborhood on the outskirts of the city can result in financial savings. Murfreesboro Tn is currently your best bet if you’re trying to find a place to rent.
The cost of renting an apartment in Murfreesboro City ranges from $1,489 on average based on location, size, and quality.
2. Transportation
The cost of living in Murfreesboro Tn is significantly impacted by transportation as well. The usual vehicle insurance premium for a driver in Murfreesboro is $1,485. That is less expensive than both the national average of $1,548 and the Tennessee state average of $1,570.
Compared to the nationwide average commute time of 26.6 minutes, Murfreesboro’s average commute time is 26.3 minutes. With a gallon of petrol costing $1.97 on average, it is also a reasonable price.
3. Cost of utilities
Utility costs of living in Murfreesboro Tn, are 9% less than the national average. Based on data from the Tennessee electricity statistics for Murfreesboro, the average (residential) electricity rate in Murfreesboro is $11.88/kWh, which is 100% cheaper than the average (national) rate.
However, the average monthly home power cost in Tennessee is $123, which is lower than the average for neighboring Tennessee towns. Note that residential tariffs in the US range from 8.37 cents per kWh to 37.34 cents per kWh.
4. Food
If you’re going to be living in Murfreesboro Tn, especially if you’re a couple or a couple with children, you already know how important it is to stock your fridge with food. Fortunately, Tennessee often has food prices that are far lower than the national average.
Grocery costs in Murfreesboro are 2% less than the national average. In Memphis, a gallon of milk costs $3.21 and a dozen eggs cost $2.48, compared to a loaf of bread costing $3.39, a carton of eggs costs $1.53, a bunch of bananas costs $3.28, and a cheeseburger costs $4.64 for a lunch at an inexpensive restaurant.
5. Healthcare
The cost of healthcare is 15% less in Murfreesboro than it is nationwide. According to Nerdwallet’s cost of living calculator, a doctor’s appointment costs $104 and a dental visit costs $101.67, but these costs are higher in Louisville, where they are $154.17 and $120.67, respectively.
Additionally, the average cost of health care for an adult living alone in the area is $4,585 annually, as opposed to an average of $4,925 for Tennessee and $4,266 for the entire US.
6. Taxes
The tax system in Murfreesboro is interesting to look at. The 2022 sales tax rate for Murfreesboro, Tn is 9.75%. It is important to keep in mind that Murfreesboro has the highest sales tax in Tennessee when compared to the rest of the state.
The average adult working in Murfreesboro, Tn pays $5,467 per year after state and federal income taxes, social security payments, and medicare payroll taxes; this is a very high amount when compared to the statewide average of $4,925.
Related: An Informative Guide For Expats On The French Tax System
Final Thoughts
Murfreesboro has a low cost of living and a growing economy. It provides a unique fusion of natural beauty, pleasant weather, music, and dancing. However, knowing the specific cost of living in Murfreesboro Tn, is just as crucial as your plans for moving there.
In comparison to other cities in Tennessee’s neighboring communities, Murfreesboro’s cost of living appears to be extremely affordable.
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