To approximate the cost of living and the housing affordability in Nashville, TN, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Nashville have a median income of $67,723. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,580 per month to avoid calamity and poverty. The renters in the city have an income of about $34,704, which would make their monthly maximum allowable rental costs $810.