Gallatin, TN

Average · 98

Tennessee · Population 46,667 · Updated March 2026

$1,299
Median Rent / Month
$73,589
Median Income
$343,700
Median Home Value
$1,307
Owner Costs / Month

Affordability

How far your income goes in Gallatin

21.2%
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

$15,588
Annual Rent
$0
State Income Tax
$2,200
Property Tax (est.)

Cost of Living Overview

Gallatin has a cost of living close to the national average, offering a balanced mix of expenses and amenities. With a cost index of 98 (where 100 equals the national median), Gallatin residents can expect to pay median rent of $1,299/month while earning a median household income of $73,589/year.

The median home value in Gallatin, TN is $343,700, with typical monthly owner costs around $1,307 including mortgage, insurance, and taxes. The median rent-to-income ratio of 21.2% 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 Gallatin.

Frequently Asked Questions

Common questions about living costs in Gallatin

What is the cost of living in Gallatin, TN?
The cost of living index in Gallatin, TN is 98 (US average = 100). Median monthly rent is $1,299, median household income is $73,589/year, and the median home value is $343,700.
Is Gallatin, TN affordable?
Yes, Gallatin is more affordable than the national average with a cost index of 98. The rent-to-income ratio is 21.2%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Gallatin, TN?
The median gross rent in Gallatin, TN is $1,299 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $15,588.
What is the median household income in Gallatin?
The median household income in Gallatin, TN is $73,589 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.