How far does $40,000 a year go around Nashville? (apartment, rent)

[metty85]

I currently live in the northeast but I am considering a position in Nashville. The position in Nashville pays $40,000 and I'm wondering how far that realistically gets someone in Nashville?

I would be looking an apartment. It's just me - no spouse or kids. I don't need to live in the city of Nashville but wouldn't want more than a 20-25 minute commute. The job is around the area of Metro Center and Buena Vista Heights.

Any insight on how livable $40,000 is in Nashville, and what might be available apartment wise within 20-25 minutes of that area, would be appreciated.

[CountryGirl2b=]

Depends on your lifestyle? Do you eat out a lot? Want to go to see live music every week? Have a hefty car payment? I own a small house and my base bottom line boring but safe budget is $22,000 which includes property tax and home insurance ($2800 a year). I did this as a what if budget. It’s barebones but not eating rice every day. If you really wanted to live here, got an apartment that was less than $1400, I think you could do it.

[metty85]

1400 a month is well out of the equation on 40,000 a year. Not remotely realistic at all.

The rent calculator on Domu.com puts my mid-range at 750-950 and I probably wouldn't want to be much higher than the middle of that, if that.

[Transplant99]

Don't forget that there's no state or local income tax here either so that should help your bottom line. $800 or so would put you in a less desirable area in the city of Nashville. But I'm guessing that there are nearby suburbs that can give you what you want. I, personally, don't know anything about the suburbs here, except for one thing. When I tell people who live in the Nashville suburbs how much I pay in rent near downtown they suggest to me that I could live in a mansion where they live for what I'm paying.

[septimus]

I think you would need a roommate to make it work.

Our groceries seem cheaper than other parts of. the country but that seems to be changing. I haven't left Kroger for under $300 the last few months (some of that is the kids are home for every meal and snack now but prices have gone up).

My car insurance dropped significantly when I left Mass so that could be another savings.

[BirdieBelle]

Originally Posted by metty85

1400 a month is well out of the equation on 40,000 a year. Not remotely realistic at all.

The rent calculator on Domu.com puts my mid-range at 750-950 and I probably wouldn't want to be much higher than the middle of that, if that.

Then you’d need a roommate. $1400/month is the average rent in Nashville.

[N.Cal]

My car insurance dropped significantly when I left Mass so that could be another savings.

This is something that needs to be carefully researched because mine nearly doubled when I moved to Nashville.

OP - you will be hard-pressed to find anything decent at $800 a month or less.

[N.Cal]

From another website with 2019 numbers:

Nashville, Tennessee

Median income: $52,858
Income needed if you’re a homeowner: $84,787
Income needed if you’re a renter: $87,115

[septimus]

OP unless I was under 25, I don't think I would relocate for a $40k/yr job unless you really want to be in Nashville.

[CountryGirl2b=]

“ The median of a set of numbers is that number where half the numbers are lower and half the numbers are higher.“

Median means half of the people earn more and half earn less.