Cost of Living in New Hope, TN

A+
17%
Overall NAT. AVG.
10%
Goods & Services NAT. AVG.
38%
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 New Hope Tennessee National
Cost of living8389100
Goods & Services9094100
Groceries9798100
Health care9288100
Housing6280100
Transportation8889100
Utilities9393100
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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

Most Affordable Places to Live in and Around New Hope

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Compare New Hope, 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$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$24.2622.5%
      Beauty Salon $48.40$45.566.2%
      Toothpaste $3.66$3.701.1%
      Shampoo $1.27$1.280.8%
      Movie $12.57$12.133.6%
      Bowling $16.47$18.008.5%

      Groceries

      Item New Hope National avg. Difference
      Ground Beef $5.63$5.843.5%
      Fried Chicken $1.43$1.578.9%
      Milk $4.49$4.673.9%
      Potatoes $5.17$4.934.8%
      Pizza $11.66$12.093.6%
      Beer $10.02$10.413.8%

      Health Care

      Item New Hope National avg. Difference
      Optometrist $112.00$125.6810.9%
      Doctor $129.61$135.784.5%
      Dentist $96.50$113.2914.8%
      Ibuprofen $10.39$10.652.4%
      Lipitor $465.03$468.600.8%

      Housing

      Item New Hope National avg. Difference
      Home Price $105,700.00$184,700.0042.8%
      Avg. Mortgage Payment $2,008.10$2,346.6914.4%
      Apartment Rent $705.00$949.0025.7%

      Transportation

      Item New Hope National avg. Difference
      Gasoline $3.09$3.4610.6%
      Tire Balancing $50.87$59.9215.1%

      Utilities

      Item New Hope National avg. Difference
      All Electricity $170.16$193.9912.3%
      Phone $192.18$192.250.0%
      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, AL2,2357525.4%
      Orme, TN587723.5%
      Stevenson, AL2,3267921.1%
      South Pittsburg, TN3,0388019.8%
      Whitwell, TN1,9778317.0%
      New Hope, TN9458317.1%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Bellemeade, KY94511616.2%
      King City, MO9458317.3%
      De Kalb, MS9457623.7%
      Iron Ridge, WI945973.3%
      Lac-Simon, QC945n/a 
      New Hope, TN9458317.1%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
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