A comprehensive side-by-side comparison of taxes, cost of living, housing, income, and insurance costs between Tennessee and North Carolina.
State 1
TN
State 2
NC
No Income Tax State
Tennessee has no state income tax, which can mean significant savings for residents compared to North Carolina (4.50% top rate).
| Category | Tennessee | North Carolina |
|---|---|---|
| Income Tax Rate | No Income TaxBetter | 4.50% |
| Property Tax Rate | 0.64%Better | 0.80% |
| Property Tax (on Median Home) | $1,856/yrBetter | $2,480/yr |
| Sales Tax Rate | 7.00% | 4.75%Better |
| Cost of Living Index | 90Better | 95 |
| Median Home Price | $290,000Better | $310,000 |
| Median Household Income | $59,700 | $64,000Better |
| Avg. Auto Insurance | $1,680/yr | $1,580/yrBetter |
| Avg. Home Insurance | $1,900/yr | $1,700/yrBetter |
Index relative to national average (100)
Tennessee
$290,000
Property Tax: $1,856/yr
North Carolina
$310,000
Property Tax: $2,480/yr
Tennessee homes are 6.5% cheaper than North Carolina homes.
Tennessee
$59,700
North Carolina
$64,000
North Carolina households earn $4,300 more per year on average.
| Type | Tennessee | North Carolina | Difference |
|---|---|---|---|
| Auto Insurance | $1,680/yr | $1,580/yr | $100/yr |
| Home Insurance | $1,900/yr | $1,700/yr | $200/yr |
| Total Insurance | $3,580/yr | $3,280/yr | $300/yr |
Weighted score combining income tax, property tax, sales tax, cost of living, housing, insurance, and income. A lower score indicates better overall financial affordability.
Tennessee
21.3
More Affordable
North Carolina
42.9
Tennessee offers lower income tax, lower property tax, lower cost of living, more affordable housing compared to North Carolina. Meanwhile, North Carolina offers lower sales tax, higher median income. Overall, Tennessee edges ahead in our weighted financial comparison.
Tennessee Advantages
North Carolina Advantages