Cost Of Living in Milan, TN

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Milan	Tennessee	National
Cost of living	82	89	100
Goods & Services	94	94	100
Groceries	97	98	100
Health care	87	88	100
Housing	59	80	100
Transportation	89	89	100
Utilities	86	93	100

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Cost Of Living Quick Facts

The cost of living in Milan is 8% lower than the Tennessee average
The cost of living in Milan is 18% lower than the national average
Milan housing is 41% lower than the national average
Tennessee general sales tax is 37% higher than the national average
Tennessee state income tax is 100% lower than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$63,872	$5,323	$1,490	$1,916
Renters	$28,772	$2,398	$671	$863

The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Milan, TN, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Milan, homeowners have a median income of $63,872. Using that number, a maximum of $1,490 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $28,772, which means there is a maximum of $671 to be spent on the costs of renting a home or apartment.

Tennessee Sales Tax

State	General Sales Tax	With Max Surtax
Tennessee	7%	9.75%

Tennessee Income Tax

State	Income Tax (Low)	Income Tax (High)
Tennessee	0%	0%

Goods & Services

Item	Milan	National avg.	Difference
Haircut	$24.01	$24.26	1.0%
Beauty Salon	$33.55	$45.56	26.4%
Toothpaste	$3.74	$3.70	1.1%
Shampoo	$1.08	$1.28	15.9%
Movie	$11.93	$12.13	1.7%
Bowling	$12.50	$18.00	30.6%

Groceries

Item	Milan	National avg.	Difference
Ground Beef	$5.94	$5.84	1.7%
Fried Chicken	$1.67	$1.57	6.2%
Milk	$4.54	$4.67	2.8%
Potatoes	$5.03	$4.93	1.9%
Pizza	$12.00	$12.09	0.7%
Beer	$9.74	$10.41	6.5%

Health Care

Item	Milan	National avg.	Difference
Optometrist	$127.08	$125.68	1.1%
Doctor	$138.39	$135.78	1.9%
Dentist	$86.67	$113.29	23.5%
Ibuprofen	$10.10	$10.65	5.2%
Lipitor	$338.33	$468.60	27.8%

Housing

Item	Milan	National avg.	Difference
Home Price	$101,600.00	$184,700.00	45.0%
Avg. Mortgage Payment	$1,691.70	$2,346.69	27.9%
Apartment Rent	$656.00	$949.00	30.9%

Transportation

Item	Milan	National avg.	Difference
Gasoline	$3.15	$3.46	9.0%
Tire Balancing	$50.50	$59.92	15.7%

Utilities

Item	Milan	National avg.	Difference
All Electricity	$148.29	$193.99	23.6%
Phone	$192.18	$192.25	0.0%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City	Population	Cost of Living Index	National Avg.
Bradford, TN	1,201	78	21.8%
Atwood, TN	1,122	78	21.7%
Rutherford, TN	1,076	78	21.5%
Humboldt, TN	8,145	80	19.8%
Trezevant, TN	878	81	19.1%
Milan, TN	7,642	82	17.8%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Bernardsville, NJ	7,641	161	60.9%
Three Rivers, MI	7,644	82	18.0%
Montrose, VA	7,639	94	6.2%
Kaufman, TX	7,646	94	5.9%
Park City, IL	7,636	84	15.8%
Milan, TN	7,642	82	17.8%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Milan, TN