Best Value Cities 2011:3. Nashville, Tenn.
Booming entertainment, health care and education sectors are music to the ears of its residents.
Nashville is home to the Grand Ole Opry and countless country stars (plus a few rock idols), and it has the highest concentration of record labels, recording studios, and music publishers and distributors in the nation. But Music City also means business. The area is making a strong comeback from the recession and is expected to add more than 151,000 jobs by 2019 -- an annual rate that’s higher than the national average.
VIDEO: Take a virtual walking tour of Nashville.
The majority of the new openings will be in the education and health-services fields, although the city has a slug of workers in manufacturing as well. Top employers include Vanderbilt University (Nashville has 21 four-year and postgraduate institutions), Hospital Corporation of America and Nissan North America.
Even during the recession, new businesses opened and existing ones expanded. And Mayor Karl Dean has increased the budget for public schools -- while other cities have cut education funding -- and expanded the city’s public-safety departments. Dean says Nashville also has one of the nation’s most aggressive open-space plans, calling for the preservation of 22,000 acres of public and private land. And it will be adding 3,000 acres of parkland (a 30% increase) over the next ten years.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Nashville is diverse and progressive -- a “Southern melting pot of many different people and ethnic groups,” says resident David Pittman. The music industry gives the city a buzz and energy that lures people from across the country. A budding technology industry helps draw bright young minds. And the city’s low cost of living has attracted large numbers of immigrants, especially from Iraq. “People come to Nashville and just fall in love with it,” Dean says.
Why It's Affordable
Nashville’s cost of living is about 10% below the national average; housing costs are 28% less. For example, you can get a four-bedroom house in Brentwood, a Nashville suburb with great schools, for $300,000. The city has held the property tax rate steady for the past four years, and Tennessee has no state income tax. “It’s a good deal,” especially compared with other large Southern cities, says Nashville realtor Josh Anderson. Little amenities, such as a free bike-share program for residents, add up to great value.
Why It's Fun
Nashville, of course, oozes music. You can listen to up-and-coming bands (and occasionally big-name musicians) play seven days a week at the honky-tonks downtown without paying a cover charge. Galleries stay open late on the first Thursday and Saturday of every month for art crawls, and several art museums feature world-class exhibits. The Tennessee Performing Arts Center attracts Broadway acts. There are free movies in Centennial Park every Wednesday in June, and jazz concerts on the lawn of Belle Meade Plantation from June through August. The city has 11,000 acres of public parks, a zoo, two lakes, and 192 miles of trails (both paved and primitive). Plus, Nashville has five professional sports teams and one of the South’s biggest film festivals.
SLIDE SHOW: See the Top 10 Best Value Cities
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
Award-winning journalist, speaker, family finance expert, and author of Mom and Dad, We Need to Talk.
Cameron Huddleston wrote the daily "Kip Tips" column for Kiplinger.com. She joined Kiplinger in 2001 after graduating from American University with an MA in economic journalism.
-
Five FAQs About 529 College Savings Plans
Thanks to recent policy changes, families have more options for what to do with money sitting in tax-advantaged 529 accounts.
By Mallika Mitra Published
-
7 Best Places in the US for Wellness Tourism — Beyond California
California doesn't have a monopoly on wellness tourism. These U.S. retreats offer exercise, relaxation and good food in stunning scenery that might be closer to home.
By Becca van Sambeck Published
-
Roth IRA Contribution Limits for 2024 and 2025
Roth IRAs Roth IRA contribution limits have gone up. Here's what you need to know.
By Jackie Stewart Last updated
-
How to Find Foreclosed Homes: Best Foreclosure Listings Sites
Making Your Money Last Find foreclosed homes for sale on these foreclosure listing websites. Search for properties on these free, paid or government sites.
By Bob Niedt Last updated
-
Luxury Home Prices Rise as the Rich Dodge High Mortgage Rates
Luxury home prices rose 9% to the highest third-quarter level on record, Redfin reports, growing nearly three times faster than non-luxury prices.
By Kathryn Pomroy Published
-
Four Tips for Renting Out Your Home on Airbnb
real estate Here's what you should know before listing your home on Airbnb.
By Miriam Cross Published
-
Five Ways to a Cheap Last-Minute Vacation
Travel It is possible to pull off a cheap last-minute vacation. Here are some tips to make it happen.
By Vaishali Varu Last updated
-
How to Figure Out How Much Life Insurance You Need
insurance Instead of relying on rules of thumb, you’re better off taking a systematic approach to figuring your life insurance needs.
By Kimberly Lankford Last updated
-
Amazon Big Deal Days Is Coming! We’ve Got All the Details
Amazon Prime To kick off the holiday season with a bang, Amazon Big Deal Days runs Tuesday, October 8 and Wednesday, October 9.
By Bob Niedt Last updated
-
How to Shop for Life Insurance in 3 Easy Steps
insurance Shopping for life insurance? You may be able to estimate how much you need online, but that's just the start of your search.
By Kaitlin Pitsker Published