Financial experts consider Household bills low in Chattanooga
This article was originally posted on WDEF-TV
CHATTANOOGA, Tenn. (WDEF)- Financial experts found Chattanooga to be the lowest cost of living for household bills.
“Our average rents and mortgage rates here in the Tennessee Valley are probably 20% lower than the national average, which is helpful. In addition, thanks to TVA and our proximity to TVA, our electric bill here is about 25% lower than the national average.” said Chris Hopkins with Apogee Wealth Partners
Data from doxo shows, Household Bills in the Scenic City are 11 percent lower than the U-S average.
Hopkins considers low cost of living a good thing to local families.
“On absolute terms, we are very fortunate that our average cost of goods here in Chattanooga. The Tennessee Valley is lower than the national average and actually lower than most of the rest of Tennessee,” said Hopkins
Among other cities in Tennessee, Chattanooga is ranked 43-th as the household average is one thousand nine hundred dollars per month.
Hopkins believes Chattanooga is also growing economically
“In some of the higher paying industries, that Chattanooga is beginning to attract. Those are the kind of things that are going to drive up our median income levels. And at that point, you know, everybody paycheck gets bigger. We all benefit from that. So longer term economic development in Chattanooga is really the key,” said Hopkins.
According to doxo, Chattanooga households will spend 37% of their income on household bills.
Hopkins says Chattanooga’s cost of living looks to only get better in the future..
“I am Extremely optimistic about the future for Chattanooga over the next 10 or 20 years, in terms of household incomes, in terms of of controlled growth, of the saving our infrastructure is expanding, and about the same pace to places like Nashville infrastructures just not keeping up with the population expansion. So, Chattanooga is at the sweet spot in my opinion,” Hopkins concluded.