Cost of Living in New Union, TN

With a cost of living index of 104, New Union, TN is somewhat more expensive than average. Living here is 4% more expensive than the national average and 24% above the Tennessee state average of 80. New Union is a small community of 2,208 residents.

Housing costs are the biggest factor in New Union's cost of living. The median monthly rent is $1,574 (19% above the US median of $1,319), and the median home value sits at $295,100 (3% below the national median of $304,900). At current prices, the median home costs roughly 3.8x the median household income — a moderately affordable ratio by today's standards.

The median household income in New Union is $78,343, which is 4% higher than the national median of $75,149. Residents spend roughly 24% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

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.