Cost of Living in New Hope, TN

With a cost of living index of 85, New Hope, TN is a very affordable place to live. Living here is 15% cheaper than the national average and 4% above the Tennessee state average of 80. New Hope is a small community of 928 residents.

The median household income in New Hope is $62,396, which is 17% lower than the national median of $75,149. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

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.