Relocating to Tennessee from California 101: Cost of Living

Relocating to Tennessee from California 101: Cost of Living

It's no secret that living in California is expensive. The cost of living for the state is the highest in the country. By moving to another state, you can have more buying power with your money, even if you don't make the same dollar amount. Find out why the Tennessee cost of living makes it a great place to relocate to.

California Cost of Living

The cost of living refers to the amount of money that you need compared to the nation's average to purchase things. In California, overall, the cost of living is 49.9% higher than the average for the United States. Therefore, you will need to make your current salary plus 50% to have the same standard of living.

When examined based on individual parameters, California only ranks below average for health care costs, with costs ranking 92.4% of the U.S. average. Housing is the highest piece of the cost of living. Home prices are 139.1% more expensive than in the rest of the country. For example, the national average cost for a home is $231,200. However, to buy an average-sized home in California, you would spend $552,800.

Even if you don't purchase a home, you will still see higher rent rates, and property owners raise rents to compensate for the higher purchase cost of the rental property. For instance, a studio apartment rent in California will likely cost you $1,156 a month, compared to the national average of $821.

Transportation costs are 33.1% higher than across the country. Other factors, though, such as groceries, utilities, and miscellaneous costs are all fewer than six percentage points higher than the national average.

Tennessee Cost of Living

If you want to move to a cheaper state to live in, consider Tennessee. The Tennessee cost of living is much lower than California and the nation, ranking 12.4% lower than the national average. The good news for homebuyers is the low cost to purchase a home. In Tennessee, housing costs rank 71.2% of the United States average. Home prices average $164,500.

Healthcare costs are the only ones above the national average. However, they are only 1.9% higher than the average. This is the only area of the Tennessee cost of living that ranks higher than California.

Other costs are much lower than in California and the nation. Groceries are 4.6% lower, utilities 3.3% lower, transportation 9.8% lower, and miscellaneous costs 5% lower.

Let Us Help You With Your Property When You Move to Tennessee from California

If you want to enjoy the Tennessee cost of living rates, you must first settle your property and other affairs in California. Contact us at I Want to Move Out of State for assistance with your property to make the first moves toward leaving California and its prohibitive living expenses. Moving to Tennessee, you could buy a larger home and experience a better standard of living if you retain the same salary that you made in California.