Salary Needed to Live in Knoxville as a Retiree
A retired individual (65+) needs approximately $18,514/year to live comfortably in Knoxville, TN — including 5% savings.
Comfortable Salary
$18,514
with 5% savings
Bare Minimum
$17,280
no savings buffer
Monthly Expenses
$1,080
11% below national avg
Detailed Monthly Budget for a Retiree in Knoxville
| Expense | Knoxville | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $115 | $121 | -5% |
| 🛒 Groceries | $18 | $16 | +13% |
| ⚡ Utilities | $11 | $15 | -27% |
| 🚗 Transportation | $14 | $18 | -22% |
| 🛡️ Car Insurance | $201 | $223 | -10% |
| 🏥 Health Insurance | $51 | $56 | -9% |
| Medicare Supplement | $174 | $200 | -13% |
| Prescription Drugs | $131 | $150 | -13% |
| Internet + Phone | $104 | $120 | -13% |
| Recreation & Social | $174 | $200 | -13% |
| Home Maintenance | $87 | $100 | -13% |
| Total Monthly | $1,080 | $1,219 | -11% |
How We Calculated the Salary
Monthly expenses:$1,080
Target savings (5%):$61/mo
Monthly after-tax needed:$1,141
Effective tax rate:25%
Gross annual salary needed:$18,514
Other Household Types in Knoxville
Related Pages
FAQ
What salary does a retiree need in Knoxville?
A retiree needs approximately $18,514/year ($1,543/month gross) to live comfortably in Knoxville with a 5% savings rate.
How much is rent for a retiree in Knoxville?
A 1-2br senior-friendly in Knoxville costs approximately $115/month, which is the largest single expense at 11% of the total budget.
Is Knoxville affordable for a retiree?
Yes, Knoxville is 11% more affordable than the national average for a retiree.