Housing costs in Loretto?
A typical home costs
$193,200, which is 42.9% less expensive than the national average of
$338,100 and 30.4% less expensive than the average Tennessee home, at
$277,400. Renting a two-bedroom unit in Loretto costs
$760 per month, which is 46.9% cheaper than the national average of
$1,430 and 40.8% cheaper than the state average of
$1,070.
Can I afford Loretto?
To live comfortably in Loretto, Tennessee, a minimum annual income of
$37,080 for a family, and
$23,200 for a single person is recommended.
What does A.I. say about Loretto?
The cost of living in Loretto, TN is quite affordable. According to the most recent data from the United States Census Bureau, the median household income for Loretto residents is $30,077 and the median home value is $83,400. The overall cost of living index for Loretto is 87.5 which is lower than the national average of 100. This means that Loretto residents enjoy a much more cost-effective lifestyle than those in other parts of Tennessee or across the US as a whole. In terms of groceries, transportation costs, and health care expenses, Loretto residents can expect to spend less on these necessities. With plenty of recreational activities and cultural attractions nearby such as historic sites, state parks, wineries and museums there are also plenty of ways to have fun here without breaking the bank.