Jackson, TN

Very Low · 71

Tennessee · Population 68,098 · Updated March 2026

$1,094
Median Rent / Month
$51,552
Median Income
$195,000
Median Home Value
$1,066
Owner Costs / Month

Affordability

How far your income goes in Jackson

25.5%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

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

$13,128
Annual Rent
$0
State Income Tax
$1,248
Property Tax (est.)

Cost of Living Overview

Jackson is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 71 (where 100 equals the national median), Jackson residents can expect to pay median rent of $1,094/month while earning a median household income of $51,552/year.

The median home value in Jackson, TN is $195,000, with typical monthly owner costs around $1,066 including mortgage, insurance, and taxes. With a rent-to-income ratio of 25.5%, Jackson falls within the generally affordable range, though it's approaching the 30% burden threshold.

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 Jackson.

Frequently Asked Questions

Common questions about living costs in Jackson

What is the cost of living in Jackson, TN?
The cost of living index in Jackson, TN is 71 (US average = 100). Median monthly rent is $1,094, median household income is $51,552/year, and the median home value is $195,000.
Is Jackson, TN affordable?
Yes, Jackson is more affordable than the national average with a cost index of 71. The rent-to-income ratio is 25.5%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Jackson, TN?
The median gross rent in Jackson, TN is $1,094 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $13,128.
What is the median household income in Jackson?
The median household income in Jackson, TN is $51,552 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.