Cost of living in McKenzie 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 McKenzie 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 McKenzie is 78, with 100 being the average.
The cost of living index in McKenzie is 0.8x lower than the national average.
McKenzie ranks as the #5 cheapest in Tennessee out of 105.
McKenzie ranks as the #113 cheapest out of 6,412 in the US.
The median home value in McKenzie is $116,900.
The median income in McKenzie is $44,392.
According to the most recent data on the cost of living, McKenzie has an overall cost of living index of 78, which is 0.8x lower than the national index of 100.
Compared to Tennessee, McKenzie has a cost of living index that's 0.9x lower than Tennessee's index of 90.
The standard of living in McKenzie ranks as #5 most affordable out of the 105 places we measured in Tennessee. By definition, that implies McKenzie ranks as the #100 most expensive place in the Volunteer State.
For more reading on life in McKenzie, check out:
Six factors go into calculating the cost of living index in McKenzie. Here is how it fairs on each of the criteria:
The Services index in McKenzie is 93.
The Groceries index in McKenzie is 89.
The Health index in McKenzie is 83.
The Housing index in McKenzie is 53.
The Transportation index in McKenzie is 90.
The Utilities index in McKenzie is 97.
|Living Expense||McKenzie||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 McKenzie is $116,900.
The Median Rent in McKenzie is $654.
The Median Income in McKenzie is $44,392.
The Home Value To Income in McKenzie is 2.6x.
The Rent To Monthly Income in McKenzie is 0.18x.
|Median Home Value||$116,900||$193,700||$244,900|
|Home Value To Income||2.6x||3.3x||3.5x|
|Rent To Monthly Income||0.18x||0.2x||0.2x|
The cost of living varies in the cities and towns around McKenzie. Here's a quick look at the cost of living in the most populous nearby places:
Jackson, TN has a cost of living index of 86, 1.1x McKenzie.
Murray, KY has a cost of living index of 83, 1.1x McKenzie.
Dyersburg, TN has a cost of living index of 81, 1.0x McKenzie.