Cost of Living in Falling Water, TN

With a cost of living index of 87, Falling Water, TN is a very affordable place to live. Living here is 13% cheaper than the national average and 6% above the Tennessee state average of 80. Falling Water is a small community of 2,090 residents.

Housing costs are the biggest factor in Falling Water's cost of living. The median monthly rent is $711 (46% below the US median of $1,319), and the median home value sits at $398,400 (31% above the national median of $304,900). At current prices, the median home costs roughly 3.5x the median household income — a moderately affordable ratio by today's standards.

The median household income in Falling Water is $113,160, which is 51% higher than the national median of $75,149. Residents spend roughly 8% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Everyday prices in the Chattanooga, TN-GA (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

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.