The Cost of Living Diaries: Collierville, TN
Get the inside scoop on what it's like to live in this West Tennessee city.
Welcome to The Cost of Living Diaries. How much does it cost to live in Collierville, TN? What’s it like to live and work here? Keep reading because we asked a local resident to tell us all about the cost of living in Collierville.
People are flocking to Collierville, a suburb of Memphis, and relocating to build a life they love. Attracted by its affordability, Southern hospitality and quality of life, the city of nearly 52,000 is growing by leaps and bounds.
The Morgan family
Matt Morgan and his wife, Ashley, moved to the city in 2013. Ashley is a physical therapist, and he is a real estate broker. They have three children.
What brought you to Collierville?
I was born in Memphis, and my wife is from Collierville. We wanted a family, and that’s what brought us back here – we wanted them to enjoy the same quaint, Southern lifestyle we grew up with.
How would you describe Collierville?
Collierville is a perfect cosmopolitan town with irreplaceable Southern charm. Parade magazine awarded us America’s Best Main Street in America. We have a historic town square – right in the center is a sanctuary of the Methodist church, where we were married – there’s a boot and Western wear store, Hewlett & Dunn, but it also has all of today’s modern amenities. There are several restaurants, pubs, cafes, and retail shops, and a major medical center.
How affordable is rent/mortgage in Collierville?
I think it’s still a very attainable slice of the American dream. We went through a crazy price increase just like the rest of the country during COVID. The median sales price is $497,250 for a four-bedroom home. When we sold our first home, I looked at single-family detached homes to rent, and those are about $1,800 a month, but those can increase if there are more bedrooms and amenities.
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What is grocery shopping like, and what’s your average grocery bill?
We don’t have a Whole Foods or Trader Joe’s in Collierville, but we are a 10-minute drive from Germantown, which does have them. We have a Kroger here, an Aldi and a Walmart Supercenter, which are all more affordable options. We entertain quite a bit, so we probably spend upward of $400 a month. … I used to live in New York City and the difference is ridiculous. The cost of living in Collierville is so much more affordable.
What’s your favorite restaurant in town and how much would it be for dinner for two?
If it’s date night, we go to the Town Square, where our favorite restaurant is called Raven & Lily. It’s a little bit pricier than a family spot, but with dinner and drinks, it’s probably about $70. They serve really cool eclectic southern French cuisine. If it’s a Sunday-after-church lunch, all five of us go to a Mexican restaurant, and it would be under $50.
What’s your favorite coffee shop, and what do you typically order?
My favorite coffee shop is also on Town Square – it’s called Square Beans. They have been there for quite a while, but they have new owners who are doing a great job. I order an Americano (which I get iced in the summer), and it’s about $3.25.
Get to Know Tennessee
Want to learn more about living and working in Tennessee? Check out the latest edition of Livability Tennessee Economic Development Guide.
