Jackson Ranks Sixth Most Affordable Place to Live in U.S.
Reverend Jesse & The Holy Smokes play at Jackson's AMP at the market for one of its free outdoor concerts provided to the community.
Jackson, Tennessee has been recognized as one of the “Best Cities to Live in on a $100K Salary” in the U.S. according to Fortune Magazine’s August issue. The article is based on MagnifyMoney’s look at the cost of living in 381 U.S. major metropolitan areas. This comparison loan-shopping site ranks their results by comparing how much cash is leftover after paying household expenses. In their study, Jackson ranked number six in the nation, with five metro areas in Tennessee falling into the top 10. The $100,000 income level can be used as a comparison tool for families either below or above that combined income level.
“We are pleased to receive this ranking,” said City of Jackson Mayor Jerry Gist. “We have a great city that not only offers healthy living, a great education, health care and a thriving workforce; but this reinstates that we are one of the most affordable places to live in the U.S.”
The analysis was made by comparing a two-earner household with one child and a gross annual income of $100,000 in U.S. Metro areas. Estimated monthly expenses included childcare, transportation, food, housing, student loans, savings and entertainment. These were subtracted from after-tax income. The percentage of remaining income verses total monthly expenses were the defining factors. Jackson, Tennessee can boast that it is a great place to live to stretch a paycheck with only 64% of annual income being paid for routine expenses.
“Jackson, Tennessee is one of the top places in the country to maximize your income while enjoying a wonderful quality of life,” says Jackson Chamber President/CEO Kyle Spurgeon. “Low cost of living is one factor that makes us attractive to industry, businesses and entrepreneurs of all kinds. We have and are continuing to create an environment centered around healthy lifestyles, an educated workforce, and strong cultural amenities.”
Jackson's latest mural painted by local artists in Downtown.
Jackson boasts a great community, touting health-consciousness, great medical facilities, a robust econmomic climate, a strong workforce, and contiuous improvements to education and public safety. Known for its innovation and forward thinking, Jackson is also recognized as a Smart Gigabit Community (or “Gig City”) bringing ultra-fast Internet speeds for the next generation of education, medical care, public safety and economic development.
Jackson also provides great entertainment including festivals, outdoors and parks, The Jackson Generals - a AA minor league baseball team, arts, symphony concerts, free outdoor concerts at the AMP, a farmer’s market and much more. On Jackson’s horizon are amenities such as new greenways, bike trails, kayaking, bike share, theLOCAL which is a micro-retail development for entrepreneurs and artisans, and many good things to come.
“We strive to attain the best environment for creating jobs and expanding existing businesses in Jackson and Madison County,” said Madison County Mayor Jimmy Harris. “Knowing that our workforce can make a great living while providing for their family, sets us apart from many cities in America.”