Skip to main content
LiveWhere us
Memphis, TN-MS-AR

Cost of living in Fayette County, TN

Part of the Memphis Metro Area

Estimated monthly cost
$3,138/mo
for a single person, all categories combined

Population 42,653 · Last updated May 21, 2026

Cost breakdown

Single person, by category, per month.

Rent $1,207 38%
Federal tax $568 18%
Healthcare $480 15%
Transport $320 10%
Groceries $317 10%
Energy $191 6%
Water $55 2%
State tax $0 0%

Rent in Fayette County

Fair Market Rents by bedroom count.

Studio
$1,105
per month
1 bedroom
$1,207
per month
2 bedroom
$1,355
per month
3 bedroom
$1,781
per month
4 bedroom
$2,086
per month

Source: HUD FMR FY2025

Income and earnings in Fayette County

Annual earnings figures from the Census ACS.

Household income
$84,764
per year
Individual earnings
$44,810
per year
Per capita
$42,294
per year

Source: ACS 2019-2023 5-Year.

Home values in Fayette County

Average values reported by homeowners.

Average home value
$316,000
Annual property tax
$1,092

Source: ACS 2019-2023 5-Year

Energy costs in Fayette County

Estimated monthly electricity and gas costs.

Electricity
$147
per month · 13.4¢/kWh
Natural gas
$44
per month
Annual total
$2,292
per year

Source: EIA

Healthcare in Fayette County

Insurance premiums and coverage rates.

Individual premium
$480
per month
Family premium
$1,350
per month
Uninsured rate
7.9%

Source: ACS + national avg. Marketplace benchmark premiums are second-lowest Silver plan estimates and do not reflect employer plans, subsidies, or out-of-pocket costs. This is not healthcare advice.

Taxes in Fayette County

State and local tax rates for Tennessee.

No state income tax
Tennessee does not levy a personal income tax.
State sales tax
7.0%
Combined sales tax
9.6%
incl. average local

Tax rates change. Consult a qualified tax professional for advice on your specific situation. This is not tax advice.

Transportation in Fayette County

Commute patterns and estimated costs.

Average commute
34.2 min
Drive alone
76.6%
Public transit
0.1%
Work from home
9.8%

Source: ACS

Monthly cost estimates for Fayette County

What it costs to live in Fayette County each month.

Single person
$3,138
per month
  • Rent $1,207
  • Energy $191
  • Water $55
  • Groceries $317
  • Transport $320
  • Healthcare $480
  • Federal tax $568
  • State tax $0
Couple
$4,515
per month
  • Rent $1,355
  • Energy $229
  • Water $65
  • Groceries $525
  • Transport $420
  • Healthcare $864
  • Federal tax $1,057
  • State tax $0
Family
$7,066
per month
  • Rent $1,781
  • Energy $286
  • Water $75
  • Groceries $797
  • Transport $520
  • Healthcare $1,350
  • Childcare $1,200
  • Federal tax $1,057
  • State tax $0

Frequently asked questions about Fayette County

Common questions about cost of living, rent and salary.

What is the average rent in Fayette County?

In Fayette County, TN, a one-bedroom apartment averages $1,207 per month, a two-bedroom averages $1,355 per month, a three-bedroom averages $1,781 per month, according to HUD Fair Market Rent data.

What is the average salary in Fayette County?

In Fayette County, TN, the average household income is $84,764 per year and individual earnings for full-time workers average $44,810 per year, according to U.S. Census Bureau data.

What is the cost of living in Fayette County?

The estimated cost of living in Fayette County, TN is approximately $3,138 per month for a single person, $4,515 for a couple, $7,066 for a family. This includes rent, utilities, groceries, transportation, healthcare, and taxes.

What is the sales tax rate in Fayette County?

The combined sales tax rate in Fayette County, TN is 9.55%, which includes the Tennessee state rate of 7.00% plus an average local rate of 2.55%.

Is Fayette County an affordable place to live?

Based on the data, a single person in Fayette County, TN would need approximately $3,138 per month to cover rent, utilities, food, transport, healthcare, and taxes. The average household income is $84,764 per year ($7,064 per month). Fayette County is relatively affordable compared to the national average.

How much does healthcare cost in Fayette County?

The ACA marketplace benchmark premium in Fayette County, TN is approximately $480 per month for an individual. Approximately 7.9% of residents are uninsured. Actual costs vary based on employer coverage, plan type, and individual circumstances.

What are house prices in Fayette County?

The average home value in Fayette County, TN is $316,000, with average annual property taxes of $1,092, according to U.S. Census Bureau data.

How does Fayette County compare to other areas?

You can compare Fayette County, TN with any other US county using our comparison tool at /compare. Fayette County is in the Memphis, TN-MS-AR metro area.

Other counties in Tennessee

Browse the full list of counties in Tennessee, ranked by cost of living.

See all counties in Tennessee

Compare Fayette County with another area

Put two counties side by side to see how rent, taxes and everyday costs stack up.

About this data

All figures on this page come from official U.S. government sources, listed below.

  • HUD FMR FY2025
  • ACS 2019-2023 5-Year
  • EIA
  • ACS + national avg
  • ACS
  • USDA + BEA RPP
Methodology All data sources