Answer for "How much does it cost to live in Gatlinburg Tennessee?"
Gatlinburg is a charming little mountain resort town in Sevier County, Tennessee. According to the 2021 census, Gatlinburg has a population of about 3,800 souls. Yet, we can not help but notice a slight decline in its residents over the years (in 2016 being 4,200). On 10.41 square miles, the city offers plenty of unique and engaging activities and a highly newcomer-friendly community. In short, it indeed has got all the features to be called an excellent place to stay.
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The local economy in Gatlinburg, TN
While in 2021, the American average unemployment rate is six percent, the Gatlinburg statistics are promising, at only 5.1 percent. At the same time, local job growth is on the rise, increasing by two percent. The median income in Gatlinburg, TN, is approximately $36,000 in 2021.
With so many essential things to see in Gatlinburg, first-class resorts, and remarkable
The cost of living in Gatlinburg, Tennessee
In 2021, prices in Gatlinburg increased by 1.3 percent compared to last year’s. Food, housing, and transportation are the main areas that inflation hit the hardest. Nevertheless, the cost of living in Gatlinburg, TN, is 14 percent lower than in the rest of the United States. Gatlinburg is more cost-effective than the rest of the country in all relevant aspects. Energy is 16.7 percent less expensive, food is 17.4 percent, and healthcare by 28.5 percent than the US average.
Statistics prove that Gatlinburg steals major US cities’ thunder in terms of cost of living. Compared to San Francisco, CA, Gatlinburg is less expensive by 97 percent. While compared to New York, life in Gatlinburg is more affordable by approximately 91.5 percent.
It all adds up to a 69/100 percent livability score, which is above average when considering all American cities. Residents in Gatlinburg, Tennessee, value the reliable public transportation system, safety at night, family-friendly neighborhoods, and the overall condition of public places and streets.
The real estate market in Gatlinburg, TN
Lately, the housing market in Gatlinburg, TN, experienced a genuine boom in prices. As of November 2021, property prices in Gatlinburg increased by about 61 percent compared to 2020. Thus, the median sale price reached a stunning $617,000. Homes stay on the market on average 73 days.
Conclusion
Due to its affordable cost of living and
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