Cost of living in Collierville research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Collierville is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Tennessee, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Collierville is 107, with 100 being the average.
The cost of living index in Collierville is 1.1x higher than the national average.
Collierville ranks as the #97 cheapest in Tennessee out of 105.
Collierville ranks as the #3,867 cheapest out of 6,412 in the US.
The median home value in Collierville is $352,200.
The median income in Collierville is $119,461.
According to the most recent data on the cost of living, Collierville has an overall cost of living index of 107, which is 1.1x higher than the national index of 100.
Compared to Tennessee, Collierville has a cost of living index that's 1.2x higher than Tennessee's index of 90.
The standard of living in Collierville ranks as #97 most affordable out of the 105 places we measured in Tennessee. By definition, that implies Collierville ranks as the #8 most expensive place in the Volunteer State.
For more reading on life in Collierville, check out:
Six factors go into calculating the cost of living index in Collierville. Here is how it fairs on each of the criteria:
The Services index in Collierville is 91.
The Groceries index in Collierville is 89.
The Health index in Collierville is 79.
The Housing index in Collierville is 141.
The Transportation index in Collierville is 87.
The Utilities index in Collierville is 90.
|Living Expense||Collierville||Tennessee||National Average|
Housing swings affordability the most between places in Tennessee, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Collierville is $352,200.
The Median Rent in Collierville is $1,453.
The Median Income in Collierville is $119,461.
The Home Value To Income in Collierville is 2.9x.
The Rent To Monthly Income in Collierville is 0.15x.
|Median Home Value||$352,200||$193,700||$244,900|
|Home Value To Income||2.9x||3.3x||3.5x|
|Rent To Monthly Income||0.15x||0.2x||0.2x|
The cost of living varies in the cities and towns around Collierville. Here's a quick look at the cost of living in the most populous nearby places:
Memphis, TN has a cost of living index of 79, 0.7x Collierville.
Bartlett, TN has a cost of living index of 93, 0.9x Collierville.
Southaven, MS has a cost of living index of 88, 0.8x Collierville.