East Tennessee: Affordable Healthcare, Utilities, Real Estate
The Council for Community and Economic Research (C2ER, formerly ACCRA) reports that Knoxville’s costs of living are well below the national average. Recognized by the U.S. Census Bureau, the US Bureau of Labor Statistics, CNN Money, and the President's Council of Economic Advisors, C2ER reports quarterly data on consumer goods and services from over 300 metropolitan and nonmetropolitan cities across the United States. Data collected from these cities is averaged and individual cities are then compared to that standard. The value reported for each city appears as a percentage of the national average.
When compared to the national average, Knoxville excels in all observed categories: housing costs are reported at 20% below average; utilities are 10.4% below average; transportation costs are 13% below average; healthcare costs are 11.4% lower; grocery items are 9.2 % lower; and miscellaneous goods and services are 6.2% lower than the national average. With a composite index of 88.2, Knoxville’s cost of living is, in some cases, considerably lower than other cities in the Southeast: Nashville’s scored 95.1; Louisville, KY, scored 97.6; Chattanooga scored 90.9; and Atlanta scored 95.3. Compared to cities outside the Southeast, Knoxville fared even better: Pittsburg scored 104.1; St. Louis scored 111.1; and Columbus, OH, scored 98.0.
Not limited to Knoxville, the entire East Tennessee region enjoys low consumer goods and service costs leading to a better quality of life for all. For example, regional residential electricity rates are 22% below the national average and regional healthcare costs are 18% below average (the state as whole ranked sixth in the nation in cost and availability of medical facilities). Low cost of living, combined with the area’s natural beauty, good climate, job availability, and excellent educational opportunities has brought national recognition. For example, in 2004, Places Rated Almanac ranked Knoxville the best place to live for cities with populations less than one million and, in 2005, Expansion Management magazine recognized the Knoxville metropolitan area as one of the top 50 places in the country to live and work. Low costs of living and Tennessee’s tax structure (no state income tax!) makes East Tennessee an affordable place to live with a higher quality of life than most other areas in the country.
