Knoxville, TN Metro Area is a great place to live for its residents because it offers a much more affordable cost of living than the US average. The average rent for a two bedroom apartment here is significantly lower than the rest of the US at only $1,120 per month while the national average for such an apartment stands at $1,430. Additionally, grocery costs are also much lower here with a grocery cost index of 97 compared to 100 in the US. \nThe area has many popular local companies including Regal Entertainment Group and Pilot Flying J. Regal Entertainment Group owns some of the largest movie theatre chains in America, while Pilot Flying J operates gas stations and convenience stores across North America. Both companies are headquartered in Knoxville and are important employers in the city.
Knoxville Metro Area has an unemployment rate of 4.5%. The US average is 6.0%.
Knoxville Metro Area has seen the job market decrease by -4.2% over the last year. Future job growth over the next ten years is predicted to be 38.1%, which is higher than the US average of 33.5%.
Tax Rates for Knoxville Metro Area
- The Sales Tax Rate for Knoxville Metro Area is 9.4%. The US average is 7.3%.
- The Income Tax Rate for Knoxville Metro Area is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Knoxville Metro Area
- The average income of a Knoxville Metro Area resident is $34,317 a year. The US average is $37,638 a year.
- The Median household income of a Knoxville Metro Area resident is $60,862 a year. The US average is $69,021 a year.