Nashville Cost of Living 2024: A Practical Guide for Renters, Buyers, and Newcomers

January 29, 2026 at 10:10 am staff writer

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Thinking about moving to Music City? You’re probably wondering: Is Nashville affordable to live in? The truth is, Nashville’s cost of living has risen, but it still offers good value compared to other major U.S. cities.

Overall, the Nashville cost of living in 2024 is about 4% higher than the national average. While housing is the biggest factor affecting costs, day-to-day living (like food, utilities, and transit) can be manageable with the right planning. This guide is tailored for renters, buyers, families, and newcomers looking to understand what they’ll really spend.

1. Overall Cost of Living Snapshot

Compared to the national average, Nashville is slightly more expensive but more affordable than cities like Austin or Denver. Major expenses include housing, healthcare, and transportation. The region continues to experience price hikes due to population growth and inflationary pressure, although wage growth and job opportunities have helped balance the scales.

2. Housing Costs in Nashville

2.1 Rent Prices

Studio: ~$1,325/month
1-bedroom: ~$1,525/month
2-bedroom: ~$1,950/month

Expect to pay more in areas like The Gulch or East Nashville, while neighborhoods like Donelson offer lower rents. Renters should budget at least $1,600 monthly for housing, including basic utilities.

2.2 Home Prices

The median home price in Nashville is around $435,000, with an average cost of $275 per square foot. First-time buyers face competition and rising prices, but many still find ownership attainable just outside the city center.

2.3 Renting vs. Buying

Renting is wiser for newcomers or those with short-term plans. Buying makes sense for families or long-term residents seeking equity. With interest rates fluctuating, it’s best to assess your long-term goals before committing.

3. Utility Costs in Nashville

3.1 Monthly Utilities Breakdown

Electricity: $120–$150
Water & Sewer: $50–$70
Trash: Often included in rent or $20–$30/month

3.2 Internet & Mobile Costs

Expect to pay about $60–$80/month for high-speed internet. Mobile phone plans typically range from $50–$90/month per line.

3.3 Seasonal Cost Changes

Summer air conditioning can spike electric bills, while winter heating costs may rise slightly especially in older homes with less insulation.

4. Food & Grocery Costs

4.1 Grocery Prices

On average, a single person spends about $300/month on groceries; a family of four may spend closer to $850. Prices are slightly above the national average.

4.2 Dining Out

Casual meals: ~$13–$18/person
Mid-range restaurants: ~$25–$40/person

Frequent dining out can significantly increase your monthly expenses in Nashville, TN.

4.3 Ways Residents Save on Food

Shopping at discount grocers like Aldi
Meal prepping instead of ordering in
Joining wholesale clubs like Costco

5. Transportation Costs

5.1 Owning a Car in Nashville

Gas averages $3.00/gallon. Insurance typically runs $100–$130/month. Parking downtown may cost extra, and routine maintenance averages $75/month.

5.2 Public Transportation

Nashville’s WeGo Transit offers monthly passes for $65. However, coverage is limited, making it impractical for many commuters outside the metro core.

5.3 Commute Costs

The average commute time is 26 minutes. Gas and parking add up quickly for drivers, while transit users trade cost efficiency for longer routes.

6. Hidden & Overlooked Costs

Healthcare: ~$300/month depending on coverage
Childcare: $800–$1,200/month per child
Entertainment: Concerts, events, and outings can cost $100+/month
City services: Vehicle registration, trash fees, and property taxes

7. Sample Monthly Cost of Living Budget

7.1 Single Professional

Rent: $1,500
Groceries: $300
Utilities & Internet: $200
Car Expenses: $400
Dining/Entertainment: $200
Total: ~$2,600/month

7.2 Couple

Rent: $1,800
Groceries: $500
Utilities & Internet: $220
Car Expenses: $600
Dining/Entertainment: $300
Total: ~$3,420/month

7.3 Family of Four

Rent: $2,300
Groceries: $850
Utilities & Internet: $300
Car Expenses: $700
Childcare/Schooling: $1,000
Total: ~$5,150/month

8. Is Nashville Worth the Cost?

The cost is justified for many by Nashville’s strong job market, cultural attractions, and livability. Though not the cheapest city, it’s more affordable than other fast-growing metros. Weighing the living in Nashville pros and cons is essential.

9. Tips to Lower Your Cost of Living in Nashville

Pick neighborhoods like Madison or Antioch for cheaper housing
Carpool or use public transit when possible
Share housing with roommates or choose smaller rentals
Create a monthly meal and spending plan
Use licensed movers in Nashville, TN to avoid costly moving mistakes

Conclusion: Final Verdict on Nashville’s Cost of Living

Nashville offers a balanced lifestyle for professionals, families, and creatives alike. It’s ideal for those earning mid- to high incomes but can be tight for lower budgets. In 2024, it remains affordable for many if you plan wisely and live within your means. Newcomers are encouraged to explore housing and job options early and budget realistically before making the move.