Affordable Living in Chattanooga: Cost of Living Breakdown for 2024
Discover the affordable living in Chattanooga with a detailed cost of living breakdown for 2024, including housing, utilities, groceries, transportation, and healthcare.
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Affordable Living in Chattanooga: Cost of Living Breakdown for 2024
Chattanooga, Tennessee, has long been celebrated for its affordability, making it an attractive destination for both residents and newcomers. This reputation is well-earned, as the city offers a balanced blend of reasonable housing costs, manageable utility expenses, and accessible amenities. This article provides a comprehensive breakdown of Chattanooga's cost of living in 2024, highlighting key aspects that contribute to its affordability.
Housing Costs
Home Prices
The median home price in Chattanooga is approximately $273,300, which is notably lower than the national average of $375,000. This makes homeownership in Chattanooga an appealing option for many, offering significant savings compared to other parts of the country. For more detailed information on current housing trends, you can visit Realtor.com.
Renting
Renting is also an affordable option in Chattanooga. The average monthly rent for an apartment is about $1,386, while renting a two-bedroom unit costs around $1,150 per month. These rates are competitive and often more economical than those in larger metropolitan areas.
Cost of Living in Chattanooga
Utility Costs
Monthly Utility Bills
Residents of Chattanooga can expect to pay around $167.18 per month for basic utilities, including electricity, heating, cooling, water, and garbage. This average cost reflects a standard 915 sq. ft. apartment, providing a reasonable estimate for typical household utility expenses.
Internet
Internet costs in Chattanooga are also affordable, with standard plans (60 Mbps or more, unlimited data) averaging around $69.60 per month. This pricing ensures that residents have access to reliable internet services without breaking the bank.
Food and Groceries
Grocery Prices
Grocery prices in Chattanooga remain competitive. Common items and their average costs include:
Gallon of milk: $4.26
Loaf of fresh white bread: $3.00
Dozen eggs: $3.29
Chicken fillets (1 lb): $6.77
Apples (1 lb): $2.42
Potatoes (1 lb): $1.25
These prices are relatively consistent with national averages, making grocery shopping in Chattanooga affordable and straightforward.
Eating Out
Dining out in Chattanooga offers a variety of options at reasonable prices. A meal at an inexpensive restaurant typically costs around $15.00, while a three-course meal for two at a mid-range restaurant averages $70.00. For a quick and budget-friendly option, a McMeal at McDonald's costs about $10.00.
Food and Groceries in Chattanooga
Transportation Costs
Gasoline Prices
The cost of gasoline in Chattanooga averages $3.06 per gallon. This rate is competitive, especially when compared to national averages, and contributes to the overall affordability of living in the city.
Public Transport
Public transportation in Chattanooga is both accessible and affordable. A one-way ticket on local transport costs approximately $4.00, while a monthly pass is around $50.00. For more information on Chattanooga’s public transportation options, you can visit CARTA.
Transportation Costs in Chattanooga
Miscellaneous Costs
Entertainment
Entertainment in Chattanooga is also affordable. Movie tickets cost approximately $13.00 each, and a monthly membership fee at a local fitness club is around $10.00. These costs allow residents to enjoy leisure activities without significant financial strain.
Clothing
Clothing prices in Chattanooga are comparable to national averages. For example:
Pair of jeans: $40.00
Summer dress: $39.00
Pair of sports shoes: $79.00
These prices ensure that residents can purchase everyday items at reasonable costs.
Miscellaneous Costs in Chattanooga
Overall, Chattanooga offers a cost of living that is about 10.3% lower than the U.S. average, making it an affordable place to live. The city provides a balanced mix of lower housing costs, reasonable utility bills, and affordable grocery prices, contributing to its reputation as an economical choice for residents. For a comfortable lifestyle in Chattanooga, a minimum annual income of around $52,200 for a family and $39,600 for a single person is recommended.
Frequently asked questions
What is Chattanooga’s population growth rate?
Chattanooga's population has been growing steadily, with the latest estimate for 2024 at approximately 187,030, reflecting a consistent annual growth rate.
How much does it cost to rent an apartment in Chattanooga?
The average monthly rent for an apartment in Chattanooga is about $1,386, while renting a two-bedroom unit costs around $1,150 per month.
What is the average monthly utility bill?
The average monthly utility bill in Chattanooga, which includes electricity, heating, cooling, water, and garbage, is approximately $167.18.
How do grocery prices in Chattanooga compare to other cities?
Grocery prices in Chattanooga are relatively consistent with national averages, making grocery shopping affordable. Common items like milk, bread, and eggs are priced reasonably.
Is public transportation affordable in Chattanooga?
Yes, public transportation in Chattanooga is affordable. A one-way ticket costs about $4.00, and a monthly pass is around $50.00.
What is the average cost of healthcare services?
The average cost of a doctor's visit in Chattanooga is about $129.61. Dental visits average $96.50, and optometrist check-ups cost around $112.00.