Collierville, TN

Above Avg · 129

Tennessee · Population 51,212 · Updated March 2026

$1,574
Median Rent / Month
$134,319
Median Income
$458,300
Median Home Value
$1,915
Owner Costs / Month

Affordability

How far your income goes in Collierville

14.1%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Tennessee

State-level tax rates that affect your costs

0%
Income Tax (Top Rate)
7.0%
Sales Tax
0.64%
Property Tax Rate

Estimated Annual Costs

$18,888
Annual Rent
$0
State Income Tax
$2,933
Property Tax (est.)

Cost of Living Overview

Collierville has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 129 (where 100 equals the national median), Collierville residents can expect to pay median rent of $1,574/month while earning a median household income of $134,319/year.

The median home value in Collierville, TN is $458,300, with typical monthly owner costs around $1,915 including mortgage, insurance, and taxes. The median rent-to-income ratio of 14.1% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Tennessee has no state income tax, which can represent significant savings compared to high-tax states. Combined with a 7.0% sales tax rate and 0.64% effective property tax rate, the overall tax environment helps keep costs manageable in Collierville.

Frequently Asked Questions

Common questions about living costs in Collierville

What is the cost of living in Collierville, TN?
The cost of living index in Collierville, TN is 129 (US average = 100). Median monthly rent is $1,574, median household income is $134,319/year, and the median home value is $458,300.
Is Collierville, TN affordable?
No, Collierville is more expensive than the national average with a cost index of 129. The rent-to-income ratio is 14.1%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Collierville, TN?
The median gross rent in Collierville, TN is $1,574 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $18,888.
What is the median household income in Collierville?
The median household income in Collierville, TN is $134,319 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Tennessee?
Tennessee has a top income tax rate of 0%, a sales tax of 7.0%, and an effective property tax rate of 0.64%. Notably, there is no state income tax.