A-
10%
Overall NAT. AVG.
6%
Goods & Services NAT. AVG.
44%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
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 Hendersonville Tennessee National
Cost of living11089100
Goods & Services9494100
Groceries10098100
Health care9188100
Housing14480100
Transportation9289100
Utilities10293100

An Overview of Cost of Living in Hendersonville, TN

Getting a feel for the cost of living in Hendersonville is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Hendersonville is 110, which is 10% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

Housing costs significantly influence the Hendersonville cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 43.8%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

What Do Locals Say About the Cost of Living in Hendersonville?

The most insightful perspective on a city comes from its residents. We recently surveyed 11 locals to gauge their perception of the cost of living in Hendersonville. The feedback revealed that 45% of respondents found the cost of living to be reasonable, with prices on the decline, while 55% regarded it as notably expensive with prices that continue to rise.

Is Hendersonville Affordable?

Wondering if Hendersonville is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Hendersonville, for example, the median home price is 52.7% higher than what folks pay nationally, and monthly rent is 23.2% higher than the usual rates. Plus, income levels matter too, with Hendersonville boasting a median household income of $75,146, which is 35.8% higher than the national average.

What Factors can Influence the Cost of Living in Hendersonville?

Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Hendersonville, the housing index stands at 43.8% higher than the national average.

Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Hendersonville comes in at 2.1% higher than the national average.

Urbanization: Larger, urban centers, known for their wealth of amenities and strong employment prospects, often exhibit an elevated cost of living, primarily attributable to the heightened demand for services and residential relocation. Consequently, this scenario leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural areas or regions characterized by diminished demand typically provide a more limited array of amenities and experience slower job market growth, resulting in a more affordable cost of living.

Where is the Data From?

The Hendersonville cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Hendersonville is 24% higher than the Tennessee average
  • The cost of living in Hendersonville is 10% higher than the national average
  • Hendersonville housing is 44% higher 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

Most Affordable Places to Live in and Around Hendersonville

See all the best places to live around Hendersonville

Compare Hendersonville, TN Cost of Living

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      Salary Calculator

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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$90,218$7,518$2,105$2,707
      Renters$50,095$4,175$1,169$1,503
      A good indicator of the general affordability of housing in Hendersonville, TN, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Hendersonville, the median monthly income is $90,218 for those who own their own homes. Under the standard rule, that income level would allow for $2,105 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $50,095, per the median income in the area. That would allow for renters to spend up to $1,169 on monthly rental expenses.

      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 Hendersonville National avg. Difference
      Haircut $24.76$24.262.1%
      Beauty Salon $46.01$45.561.0%
      Toothpaste $3.71$3.700.2%
      Shampoo $1.23$1.283.9%
      Movie $13.30$12.139.6%
      Bowling $19.79$18.009.9%

      Groceries

      Item Hendersonville National avg. Difference
      Ground Beef $5.70$5.842.4%
      Fried Chicken $1.43$1.578.9%
      Milk $4.68$4.670.2%
      Potatoes $5.16$4.934.6%
      Pizza $10.85$12.0910.3%
      Beer $10.05$10.413.5%

      Health Care

      Item Hendersonville National avg. Difference
      Optometrist $96.03$125.6823.6%
      Doctor $116.91$135.7813.9%
      Dentist $104.65$113.297.6%
      Ibuprofen $10.51$10.651.3%
      Lipitor $460.51$468.601.7%

      Housing

      Item Hendersonville National avg. Difference
      Home Price $282,000.00$184,700.0052.7%
      Avg. Mortgage Payment $2,548.79$2,346.698.6%
      Apartment Rent $1,169.00$949.0023.2%

      Transportation

      Item Hendersonville National avg. Difference
      Gasoline $3.12$3.469.8%
      Tire Balancing $57.43$59.924.2%

      Utilities

      Item Hendersonville National avg. Difference
      All Electricity $183.77$193.995.3%
      Phone $218.37$192.2513.6%
      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.
      Graball, TN105964.0%
      New Deal, TN242963.6%
      Millersville, TN6,403990.7%
      Greenbrier, TN6,8591010.6%
      Ridgetop, TN2,4411022.4%
      Hendersonville, TN57,88811010.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Sarasota, FL57,78711414.4%
      Huntington Park, CA57,76114040.3%
      Bonita Springs, FL57,75512020.4%
      Dubuque, IA58,052927.5%
      Kokomo, IN58,0668316.8%
      Hendersonville, TN57,88811010.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.