Now, the bad news: Nashville’s metro area has an abundance of wealthy areas, some of which are among the wealthiest in the nation. Join the Memphis Business Journal to unlock even more insights!
Where does the rich live in Nashville?
Known for large country estates and rolling hills, Brentwood is an affluent suburb south of Nashville and one of the wealthiest cities in the country. The wealth in the area is relatively new too and has luxury car dealers, such as Mini, Porsche, and Audi, to thank for its growth.
Are there rich people in Nashville?
Three of the richest billionaires live in Nashville and have a total wealth of $20.7 billion dollars. Thomas J. Frist ranks as the wealthiest. Franklin, Tennesse has another three billionaires with approximately a third of Nashville’s combined wealth.
What is considered rich in Nashville?
Here’s what it takes to be considered ‘rich’ in Nashville
In Nashville, you’ll need to earn $115,609 or more to be considered a “rich” person in the top 20% of the city’s 663,750 residents. The ultra-rich, or the top 5% of earners in Nashville, make way more: $393,014 on average, according to the analysis.
What is considered wealthy in Tennessee?
Two Tennessee cities made the list – Memphis (47) and Nashville (26). The lowest income to be considered “rich” (Top 20%) in Memphis is $86,964. The average income of the top 20% comes in at $172,622. For the top 5%, the average income is $335,653.
What’s the richest city in Tennessee?
1. Nolensville. Much smaller than Brentwood, Nolensville is a suburb of Nashville and the richest town in Tennessee and is home to some of the wealthiest residents of the state.
What is a good salary in Nashville?
In 2017, GoBankingRates.com estimated that residents should earn at least $70,150 annually. Actual median household income lags far behind, at $49,891. In contrast, the national median income is $55,300, according to the U.S. Census Bureau.
Where do celebrities live in Nashville?
So, the truth of the matter is that when it comes to celebs, most celebrity homes in Nashville are actually in Brentwood or Franklin, TN. These are two of the most affluent suburbs in the Nashville area.
Where do the rich live in Tennessee?
Top 9 Richest Cities In Tennessee
- City 9: Farragut. – Median household income: $106,032 – Median property value: $350,300.
- City 8: Collierville.
- City 7: Germantown.
- City 6: Lookout Mountain.
- City 5: Nolensville.
- City 4: Oak Hill.
- City 3: Brentwood.
- City 2: Belle Meade.
Who is the wealthiest person in Nashville?
Richest billionaires in Tennessee
- #7. Bill Haslam.
- #6. Brad Kelley.
- #5. Jon Yarbrough.
- #4. Jimmy Haslam.
- #3. Martha Ingram & family.
- #2. Fred Smith.
- #1. Thomas Frist Jr & family. – Net worth: $18.2 billion (#91 wealthiest in the world)
- You may also like: Highest earning zip codes in Knoxville metro area.
What is middle class in Nashville?
There seems to be an engine of prosperity in Nashville that’s helping pull the income distribution to the right.” In 2017, 63.2 percent of the metro area’s households were in the broad middle class, defined as having incomes between $23,000 and $113,000, according to the Brookings analysis of Census data.
What salary is upper class?
In 2021, the median household income is roughly $68,000. An upper class income is usually considered at least 50% higher than the median household income. Therefore, an upper class income in America is $100,000 and higher.
What is a good salary in Tennessee?
As of Aug 6, 2022, the average annual pay for the Comfortable jobs category in Tennessee is $42,058 a year. Just in case you need a simple salary calculator, that works out to be approximately $20.22 an hour. This is the equivalent of $809/week or $3,505/month.
What is middle class salary in TN?
Tennessee households must make at least $21,573 to reach middle class, study finds. (The Center Square) – In Tennessee, households must earn a minimum of $21,573 per year to be considered middle class, with the upper earnings boundary set at $98,679, according to a new 24/7 Wall St. analysis.
How many billionaires are in Tennessee?
Billionaires are ranked by net worth as of June 30. Forbes lists 9 billionaires in Tennessee.
What is the average income in Nashville Tennessee?
Table
| Population | |
|---|---|
| Transportation | |
| Mean travel time to work (minutes), workers age 16 years+, 2016-2020 | 25.3 |
| Income & Poverty | |
| Median household income (in 2020 dollars), 2016-2020 | $62,515 |
What is the poorest city in Tennessee?
Morristown was ranked the poorest city in Tennessee in a 24/7 Wall St. analysis examining U.S. municipalities where households earn less than the nation’s median annual household income of $65,712.
Is Tennessee rich or poor?
From the 2022 edition of Rich States, Poor States.
Current Economic Outlook Ranks (2022 Edition)
| State | 2022 Ranking |
|---|---|
| Wyoming | 10th |
| Texas | 11th |
| South Dakota | 12th |
| Tennessee | 13th |
What percent of Nashville TN is black?
27.35%
Nashville Demographics
White: 62.30% Black or African American: 27.35% Two or more races: 3.67% Asian: 3.64%
Is it worth moving to Nashville?
Best known as the “Capital City of Country Music,” Nashville is home to many musicians and aspiring artists. With a growing job market, a booming craft beer scene, and some of the best food and entertainment in the country, it is no surprise that moving to Nashville, Tennessee is a dream come true for many.
What is minimum wage in Nashville?
$7.25
Tennessee’s minimum wage hasn’t changed since 2009, when the federal minimum wage changed to $7.25. Someone working full time on minimum wage would only make about $15,000 a year. The Bureau of Labor Statistics says about 4% of Tennessee’s workforce was paid the minimum hourly rate in 2020.