What Are Wages In Tennessee?

Living Wage Calculation for Tennessee

What are the average wages in Tennessee?

“We are pleased to report that the average wage for all occupations in Tennessee increased $0.30 cents per hour from $19.55 to $19.85/hourly,” Commissioner Burns Phillips said. Increase in the state’s average hourly wage represents a yearly average wage of $41,296.00.

What is the hourly wage in Tennessee?

$7.25 per hour
Tennessee’s current minimum wage is $7.25 per hour. Tennessee does not have any state-specific labor laws relating to the minimum wage or overtime – a “promised wage law” does exist, however, requiring employers to promptly pay the wages promised to their employees.

What is Tennessee’s minimum wage 2022?

This bill establishes an hourly minimum wage in Tennessee, which will be the greater of the federal minimum wage or, on and after January 1, 2022, not less than $12.00 per hour.

What was the average income in Tennessee 2022?

As of Jul 26, 2022, the average annual pay for the Person jobs category in Tennessee is $36,357 a year.

What salary do you need to live in Tennessee?

Typical Expenses

What is good salary in TN?

As of Jul 13, 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.

Is it expensive to live in TN?

Tennessee’s quality of life is high, and its cost of living is low. Based on 2020 annual averages, Tennessee has the 8th lowest cost of living in the nation at 10.3% below the national average.

What is considered low income in Tennessee?

What is considered low income? What is considered an affordable housing cost* for families? A full-time employee, for example, earning the minimum wage of $7.25/hour in Tennessee (last increase was in 2008) earns $15,080/year – considered very low income if they are a single person household.

What states have a $15 an hour minimum wage?

Where are $15 minimum wages? Besides California and New York, nine states are headed to a $15 pay base over the next four years – Connecticut, Delaware, Florida, Illinois, Maryland, Massachusetts, New Jersey, Rhode Island and Virginia.

How many hours is full time in Tennessee?

30 hours
Full-time (PPACA) – working on average 30 hours or more a week during the measurement or stability period.

Is minimum wage going up to $15 an hour in Tennessee?

The wages would go up to $12 in 2023, $13 in 2024, $14 in 2025 and finally to $15 in 2026. This bill would also require an employer to pay an employee at least one-and-a-half times the hourly rate for overtime (more than 40 hours a week).

What state has lowest minimum wage?

Mississippi. No state minimum wage law. Employers subject to the Fair Labor Standards Act must pay the current Federal minimum wage of $7.25 per hour.

What is the average single person income in Tennessee?

In 2018, the annual per capita personal income was $47,179 in Tennessee, with county averages ranging from $23,175 to $95,339. The average income for rural counties in Tennessee is just $36,377.

How much does it cost to live comfortably in Tennessee?

Average Cost of Living in Tennessee: $37,499 per year
If you’re planning to move to Tennessee, your monthly budget might get a nice break. Why? Tennessee is among the most affordable 10 states, at No.

Is cost of living cheap in Tennessee?

In short, Tennessee enjoys an especially low cost of living. According to a study conducted by the World Population Review, in 2021 Tennessee is the country’s sixth cheapest state to live in. That’s pretty standard for The Volunteer State, where living costs have historically landed it in the top ten for affordability.

Why is it so cheap to live in Tennessee?

This is mostly due to the majority of the state being in rural areas and the lack of a state income tax. While cities such as Nashville have high housing costs, this is balanced by below average costs of transportation, healthcare and child care.

What’s the poorest city in Tennessee?

Morristown was ranked the poorest city in Tennessee in a 24/7 Wall St.
The Center Square.

What is upper class in Tennessee?

The average income of the top 20% comes in at $172,622. For the top 5%, the average income is $335,653. In Music City, the lowest income to be considered “rich” (Top 20%) is $115,609. The average income of the top 20% comes in at $212,201.

Is rent expensive in Tennessee?

If you’re looking to rent, Tennessee is about as good an option as you’ll find. According to Apartment List data from 2019, a two bedroom apartment in the Volunteer State goes for just $854 a month, as compared to the $1,175 national median.

Where is the cheapest and safest place to live in Tennessee?

Alcoa is the cheapest place to live in Tennessee. The median home value is around $146,500 and monthly apartment rentals are around $700 per month. There are also many other affordable cities in Tennessee that attract many people to move to the state.