Cost of Living in Collinwood, TN

With a cost of living index of 54, Collinwood, TN is one of the most affordable cities in the country. Living here is 46% cheaper than the national average and 27% below the Tennessee state average of 80. Collinwood is a small community of 1,044 residents.

Housing costs are the biggest factor in Collinwood's cost of living. The median monthly rent is $473 (64% below the US median of $1,319), and the median home value sits at $89,100 (71% below the national median of $304,900). At current prices, the median home costs roughly 1.7x the median household income — well within traditional affordability guidelines.

The median household income in Collinwood is $52,083, which is 31% lower than the national median of $75,149. Residents spend roughly 11% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.