Cost of Living in Fayetteville, TN
Housing
The housing market plays a significant role in determining the cost of living in Fayetteville, TN.
- Housing Index: 98.5 / 100
- Median Home Price is: $260,000
- Average Rent (2 BR Apartment): $1602 per month
- Average Rent (2 BR House): $1741 per month
Considering the vibrant community and affordable cost of living in Fayetteville, TN, the housing index stands at 98.5, indicating a relatively accessible market. With a median home price of 260000 and average rent for a 2-bedroom apartment at 1602, it may attract both buyers and renters. The average rent for a 2-bedroom house at 1741 reflects additional options available to families seeking more space. Furthermore, historical trends suggest that housing values could appreciate in this up-and-coming area, enhancing the potential for long-term investment.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Fayetteville, TN.
- Electricity Price: $12.57 USD (median by state)
- Natural Gas Price: $12.35 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $238 per month
Living in Fayetteville, TN could entail higher utility costs. Electricity costs sit at $12.57, while natural gas is priced at $12.35 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $238 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Fayetteville is a financially viable option for your relocation.