Cost of Living in Collierville
Detailed cost of living data — sourced from authoritative datasets and normalized for direct comparison.
Cost of Living in Collierville, Tennessee
The cost of living in Collierville is slightly higher than the national average, with an affordability index of 102 as of March 2026. While utility prices are estimated to be 15% lower than the national average and grocery prices are 1% lower, housing expenses significantly drive up the overall cost. The median home value in Collierville was $409,000 in March 2026, considerably above the national average. Rent for apartments also reflects this, with the average rent for a one-bedroom apartment around $1,489 and a two-bedroom around $1,717 as of July 2026.
Monthly Costs
Detailed Breakdown
About Collierville, Tennessee
Collierville, Tennessee, is an affluent suburb of Memphis known for its blend of historic charm and modern amenities. With a projected population of 52,126 in 2026, the town offers a peaceful and welcoming community environment, attracting families and professionals alike. Its meticulously maintained homes, tree-lined streets, and strong sense of community contribute to a high quality of life. Collierville is particularly recognized for its award-winning historic Town Square, top-tier schools, and safe neighborhoods, making it a desirable place to live in the Mid-South.
About Tennessee
Tennessee, known as the "Volunteer State," offers a diverse landscape ranging from the Appalachian Mountains in the east to the Mississippi River in the west, fostering a rich cultural heritage, particularly in music. The state's economy is robust and diversified, with major industries including manufacturing (automotive, chemicals, advanced manufacturing), healthcare, agriculture (soybeans, tobacco, cotton, beef cattle), and tourism. Living in Tennessee is generally considered affordable, with a cost of living approximately 10-15% lower than the national average, and it boasts no state income tax. The climate is predominantly humid subtropical, characterized by warm, humid summers and mild winters, though temperatures vary with elevation. Residents enjoy a lifestyle that blends natural beauty and outdoor recreation with vibrant cultural scenes in its major cities, alongside a strong sense of community.