Farragut feels the bill squeeze
Farragut households are feeling more of a squeeze than any other city in Tennessee, or even in the country.
According to DoxoINSIGHTS, an online data tool that reports household bill-paying spending statistics, residents in the Town of Farragut are paying more than the average median than the state and the country.
The site reported the median household in the United States pays $2,107 per month — or $25,286 per year — on bills, which is 30% of the income.
Meanwhile, Household bills in Farragut are 6 % higher than U.S. median, according to DoxoINSIGHTS.
“The median household in Farragut pays $2,228 per month or $26,734 per year on bills,” the site reported. “Farragut household bills are $1,449 per year higher than U.S. median of $25,285.
In Tennessee, “statewide, household bills are 17% lower than the U.S. median at $1,743 per month,” it reported.
Also, it stated, Farragut is the No. 14 most expensive municipality in Tennessee for household bills.
“The median household in Tennessee pays $1,743 per month or $20,914 per year on bills,” it added.
“Tennessee households bills are $4,371 per year lower than U.S. median of $25,285,” DoxoINSIGHTS reported. “However, the state is No. 36 most expensive state in the U.S. for household bills.
“Household bills account for 20 percent of annual household income of $135,472 in Farragut,” it stated. “Statewide, household bills account for 30% of annual income of $70,757 in state.”
More concisely, cable and satellite TV bills are 40% higher than national median in Farragut, which averages $175 while the national median is $125.
According to its website, doxoINSIGHT, it “provides a unique, aggregated and anonymized view into America’s bill pay economy.”
Concerning auto insurance payments, doxoINSIGHT reported Farragut is 107% higher than the national median. While the Town residents pay an average of $150, the national median is $130.
Likewise, Town residents are paying 11% percent more for mobile phone service than the national median.
And, Farragut residents are paying 15% more for electric services compared to the national median.
It’s Cost of Bills Index “empowers billers and service providers to make precise comparisons of household bills across all 50 states, encompassing, 97% of zip codes.”
