Cost Of Living in New Hope, 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	New Hope	Tennessee	National
Cost of living	83	89	100
Goods & Services	90	94	100
Groceries	97	98	100
Health care	92	88	100
Housing	62	80	100
Transportation	88	89	100
Utilities	93	93	100

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Cost Of Living Quick Facts

The cost of living in New Hope is 7% lower than the Tennessee average
The cost of living in New Hope is 17% lower than the national average
New Hope housing is 38% 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	$58,235	$4,853	$1,359	$1,747
Renters	$0	$0	$0	$0

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	New Hope	National avg.	Difference
Haircut	$18.80	$24.26	22.5%
Beauty Salon	$48.40	$45.56	6.2%
Toothpaste	$3.66	$3.70	1.1%
Shampoo	$1.27	$1.28	0.8%
Movie	$12.57	$12.13	3.6%
Bowling	$16.47	$18.00	8.5%

Groceries

Item	New Hope	National avg.	Difference
Ground Beef	$5.63	$5.84	3.5%
Fried Chicken	$1.43	$1.57	8.9%
Milk	$4.49	$4.67	3.9%
Potatoes	$5.17	$4.93	4.8%
Pizza	$11.66	$12.09	3.6%
Beer	$10.02	$10.41	3.8%

Health Care

Item	New Hope	National avg.	Difference
Optometrist	$112.00	$125.68	10.9%
Doctor	$129.61	$135.78	4.5%
Dentist	$96.50	$113.29	14.8%
Ibuprofen	$10.39	$10.65	2.4%
Lipitor	$465.03	$468.60	0.8%

Housing

Item	New Hope	National avg.	Difference
Home Price	$105,700.00	$184,700.00	42.8%
Avg. Mortgage Payment	$2,008.10	$2,346.69	14.4%
Apartment Rent	$705.00	$949.00	25.7%

Transportation

Item	New Hope	National avg.	Difference
Gasoline	$3.09	$3.46	10.6%
Tire Balancing	$50.87	$59.92	15.1%

Utilities

Item	New Hope	National avg.	Difference
All Electricity	$170.16	$193.99	12.3%
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.
Bridgeport, AL	2,235	75	25.4%
Orme, TN	58	77	23.5%
Stevenson, AL	2,326	79	21.1%
South Pittsburg, TN	3,038	80	19.8%
Whitwell, TN	1,977	83	17.0%
New Hope, TN	945	83	17.1%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Bellemeade, KY	945	116	16.2%
King City, MO	945	83	17.3%
De Kalb, MS	945	76	23.7%
Iron Ridge, WI	945	97	3.3%
Lac-Simon, QC	945	n/a
New Hope, TN	945	83	17.1%

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 New Hope, TN