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Cost of Living in New Tazewell

Is it better to rent or buy in New Tazewell? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$46,784
$740/mo

Median in area: $740

$156,476

Median in area: $156,476

$31,295

If you Rent

$878 /mo
Base Rent$740
Est. Utilities$138
% of Income22.5%
Pre-tax Residual$3,021

If you Buy

$1,105 /mo
P&I (6.974%)$831
Taxes & Ins$136
Est. Utilities$138
% of Income28.3%
Pre-tax Residual$2,794

Cost of Living FAQs

Is it cheaper to rent or buy in New Tazewell?›

Based on median housing data, renting is currently more affordable on a monthly basis in New Tazewell. The estimated all-in monthly cost for renting is $878, while owning a median-priced home with a 20% down payment is roughly $1,105 per month (a difference of $227).

How much do utilities cost in New Tazewell?›

The average monthly utility cost (electricity and natural gas) for a typical home in New Tazewell is approximately $138. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in New Tazewell?›

To comfortably afford the median rent and utilities in New Tazewell without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $35,120 per year.