Farragut, TN

Very High · 134

Tennessee · Population 24,309 · Updated March 2026

$1,691
Median Rent / Month
$142,402
Median Income
$513,100
Median Home Value
$1,640
Owner Costs / Month

Affordability

How far your income goes in Farragut

14.2%
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

$20,292
Annual Rent
$0
State Income Tax
$3,284
Property Tax (est.)

Cost of Living Overview

Farragut has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 134 (where 100 equals the national median), Farragut residents can expect to pay median rent of $1,691/month while earning a median household income of $142,402/year.

The median home value in Farragut, TN is $513,100, with typical monthly owner costs around $1,640 including mortgage, insurance, and taxes. The median rent-to-income ratio of 14.2% 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 Farragut.

Frequently Asked Questions

Common questions about living costs in Farragut

What is the cost of living in Farragut, TN?
The cost of living index in Farragut, TN is 134 (US average = 100). Median monthly rent is $1,691, median household income is $142,402/year, and the median home value is $513,100.
Is Farragut, TN affordable?
No, Farragut is more expensive than the national average with a cost index of 134. The rent-to-income ratio is 14.2%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Farragut, TN?
The median gross rent in Farragut, TN is $1,691 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $20,292.
What is the median household income in Farragut?
The median household income in Farragut, TN is $142,402 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.