Cookeville, TN

Very Low · 70

Tennessee · Population 35,544 · Updated March 2026

$885
Median Rent / Month
$48,501
Median Income
$263,800
Median Home Value
$890
Owner Costs / Month

Affordability

How far your income goes in Cookeville

21.9%
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

$10,620
Annual Rent
$0
State Income Tax
$1,688
Property Tax (est.)

Cost of Living Overview

Cookeville is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 70 (where 100 equals the national median), Cookeville residents can expect to pay median rent of $885/month while earning a median household income of $48,501/year.

The median home value in Cookeville, TN is $263,800, with typical monthly owner costs around $890 including mortgage, insurance, and taxes. The median rent-to-income ratio of 21.9% 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 Cookeville.

Frequently Asked Questions

Common questions about living costs in Cookeville

What is the cost of living in Cookeville, TN?
The cost of living index in Cookeville, TN is 70 (US average = 100). Median monthly rent is $885, median household income is $48,501/year, and the median home value is $263,800.
Is Cookeville, TN affordable?
Yes, Cookeville is more affordable than the national average with a cost index of 70. The rent-to-income ratio is 21.9%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Cookeville, TN?
The median gross rent in Cookeville, TN is $885 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $10,620.
What is the median household income in Cookeville?
The median household income in Cookeville, TN is $48,501 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.