Knoxville's Low Cost of Living Makes Median Income Feel Like More
Cost of living is a big factor when individuals and businesses make decisions on relocating their life or their operation.
So, how does Knoxville compare to other cities?
The government recently released a data set that NPR used to provided a very interesting searchable graphic that provides some insight into how a city's cost of living compares with the average annual income. In the graph
below, the left-hand side shows the annual income for typical, full-time
workers in different metro areas while t he
right-hand side adjusts that figure for the cost of living in each metro area.
The data used accounts for things that people actually buy in each city. For example, in places like New York City where car ownership isn't as common that cost would not figure into the data as much.
As the graphic shows, Knoxville is a less expensive place to live
with a median income of $28,857 per year. However, thanks to a low cost of living it's like you are really making
$29,873 per year. Compare that to a city
like San Francisco. Their median income
is $44,452 but the cost of living drags it down to $32,289. Ouch--better stock up on Rice-a-Roni.
Just another reason why Knoxville is growing into a prime relocation destination.
Click here to read NPR's article and see infographics for other cities.
