Oak Ridge, TN Cost Of Living
Cost Of Living In Oak Ridge, TN Summary
Cost of living in Oak Ridge research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Oak Ridge is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Tennessee, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Oak Ridge is 88, with 100 being the average.
The cost of living index in Oak Ridge is 0.9x lower than the national average.
Oak Ridge ranks as the #55 cheapest in Tennessee out of 105.
Oak Ridge ranks as the #1,278 cheapest out of 6,412 in the US.
The median home value in Oak Ridge is $170,800.
The median income in Oak Ridge is $60,542.
Table Of Contents
Oak Ridge's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Oak Ridge, TN?
According to the most recent data on the cost of living, Oak Ridge has an overall cost of living index of 88, which is 0.9x lower than the national index of 100.
Compared to Tennessee, Oak Ridge has a cost of living index that's 1.0x lower than Tennessee's index of 90.
The standard of living in Oak Ridge ranks as #55 most affordable out of the 105 places we measured in Tennessee. By definition, that implies Oak Ridge ranks as the #50 most expensive place in the Volunteer State.
For more reading on life in Oak Ridge, check out:
- Living In Oak Ridge
- Oak Ridge Crime Report
- Search Homes For Sale In Oak Ridge, TN
In Tennessee
In America
Oak Ridge Cost Of Living Vs. Tennessee
Six factors go into calculating the cost of living index in Oak Ridge. Here is how it fairs on each of the criteria:
The Services index in Oak Ridge is 91.
The Groceries index in Oak Ridge is 87.
The Health index in Oak Ridge is 93.
The Housing index in Oak Ridge is 81.
The Transportation index in Oak Ridge is 89.
The Utilities index in Oak Ridge is 94.
| Living Expense | Oak Ridge | Tennessee | National Average | |
|---|---|---|---|---|
| Overall | 88 | 90 | 100 | |
| Services | 91 | 93 | 100 | |
| Groceries | 87 | 96 | 100 | |
| Health | 93 | 88 | 100 | |
| Housing | 81 | 82 | 100 | |
| Transportation | 89 | 90 | 100 | |
| Utilities | 94 | 93 | 100 | |
Oak Ridge, TN Housing Cost Breakdown
Housing swings affordability the most between places in Tennessee, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Oak Ridge is $170,800.
The Median Rent in Oak Ridge is $917.
The Median Income in Oak Ridge is $60,542.
The Home Value To Income in Oak Ridge is 2.8x.
The Rent To Monthly Income in Oak Ridge is 0.18x.
| Statistic | Oak Ridge | Tennessee | United States |
|---|---|---|---|
| Median Home Value | $170,800 | $193,700 | $244,900 |
| Median Rent | $917 | $951 | $1,163 |
| Median Income | $60,542 | $58,516 | $69,021 |
| Home Value To Income | 2.8x | 3.3x | 3.5x |
| Rent To Monthly Income | 0.18x | 0.2x | 0.2x |
Median Home Value
Median Rent
Median Income
Oak Ridge, TN Costs By Category
Detailed Oak Ridge Services Costs Vs. Tennessee
Detailed Oak Ridge Groceries Costs Vs. Tennessee
Detailed Oak Ridge Health Costs Vs. Tennessee
Detailed Oak Ridge Transportation Costs Vs. Tennessee
Detailed Oak Ridge Utilities Costs Vs. Tennessee
Oak Ridge SnackAbility
/10
Cost Of Living In Cities Around Oak Ridge
The cost of living varies in the cities and towns around Oak Ridge. Here's a quick look at the cost of living in the most populous nearby places:
Knoxville, TN has a cost of living index of 81, 0.9x Oak Ridge.
Farragut, TN has a cost of living index of 112, 1.3x Oak Ridge.
Clinton, TN has a cost of living index of 84, 1.0x Oak Ridge.
| City | Population | Cost Of Living | Vs. Oak Ridge |
|---|---|---|---|
| Knoxville, TN | 189,339 | 81 | 0.9x |
| Farragut, TN | 23,388 | 112 | 1.3x |
| Clinton, TN | 9,982 | 84 | 1.0x |
| Kingston, TN | 5,942 | 86 | 1.0x |
| Harriman, TN | 5,936 | 79 | 0.9x |
