–A study by personal finance company Go Banking Rates finds in order to live comfortably in Nashville, residents need to make $80,548 per year. The study examined housing costs, the price of necessities such as food and healthcare, and average incomes among America’s 50 largest cities.
What is a livable wage in Tennessee?
Living Wage Calculation for Davidson County, Tennessee
| 1 ADULT | 2 ADULTS (BOTH WORKING) | |
|---|---|---|
| 0 Children | 2 Children | |
| Living Wage | $17.63 | $21.44 |
| Poverty Wage | $6.19 | $6.37 |
| Minimum Wage | $7.25 | $7.25 |
What is a comfortable salary in Tennessee?
$42,058 a year
How much does a Comfortable make in Tennessee? As of Jul 31, 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 a good salary for a single person in Tennessee?
While ZipRecruiter is seeing salaries as high as $74,467 and as low as $15,187, the majority of salaries within the Person jobs category currently range between $25,475 (25th percentile) to $39,683 (75th percentile) with top earners (90th percentile) making $54,870 annually in Tennessee.
How much do you need to make to live comfortably in Nashville TN?
A 2018 study by GoBankingRates found Nashville residents need to make $85,000 a year to “live comfortably,” $34,000 more than the city’s median income.
What is middle class income in TN?
You’ll need to make an income of at least $492,000 to find yourself in the 1% of the Volunteer State. That average of just under $500K puts Tennessee around the middle of the pack compared to the other states.
What is 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.
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.
Is it cheaper to live in Georgia or Tennessee?
Tennessee is 5.7% cheaper than Georgia.
Is it cheaper to live in Tennessee or Florida?
If the average cost of living in the United States is 100, Florida has an overall score of 97.9. This is considerably more than Tennessee, which has an overall cost of living score of 88.7. When comparing the numbers, this means Florida is nearly 10% more expensive to live in than Tennessee.
What is considered rich in TN?
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 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 salary is considered rich?
For high earners, a three-person family needed an income between $106,827 and $373,894 to be considered upper-middle class, Rose says. Those who earn more than $373,894 are rich.
What is the cheapest 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.
- Chattanooga.
- Johnson City.
- Clarksville.
- Oak Ridge.
- Murfreesboro.
- Collierville.
- Bartlett.
- Portland.
What is the poorest town in Tennessee?
Morristown was ranked the poorest city in Tennessee in a 24/7 Wall St.
The Center Square.
| Poorest City | Morristown |
|---|---|
| Median Household Income | $32,193 |
| Poverty Rate | 26.6% |
| Median Home Value | $115,900 |
| Population | 29,782 |
What is the poorest county in TN?
The poverty rate is more than 11% higher in Grundy than the rest of the state. Compared to all of Tennessee, about 15% less adults hold a bachelor’s degree in Grundy.
What are the negatives about living in Tennessee?
List of the Cons of Living in Tennessee
- The summers can be brutal when you start living in Tennessee.
- Tennessee barbecue is not for the faint of heart.
- It can be challenging to make new friends when living in this state.
- The growth levels in Tennessee’s cities can be challenging as well.
What are the dangers of living in Tennessee?
If you’re wondering “is Tennessee a good place to live?” read on.
Here Are The 9 Biggest Risks Living In The State of Tennessee
- Rapid weather changes.
- Humidity.
- Tornados.
- Stars in your eyes.
- Rabid football fans.
- Too much of a good thing.
- Flooding.
- Snakes!
Is Tennessee or North Carolina cheaper to live?
Tennessee is 3.1% cheaper than North Carolina.
Is TN a good state to live in?
Famous for its country music, low cost of living, southern comfort food, and beautiful natural landscape, moving to Tennessee could be the best decision of your life. Ranked as the second cheapest state to live in the United States, and the number one state to retire, Tennessee is a good state to live in.
Is it better to retire in GA or TN?
Retiring in the Volunteer State comes with many advantages: Lowest tax burden: Tennessee offers a lower tax burden than Georgia. In Tennessee, there’s no income tax, while Georgia’s income tax rate is 5.75%. Tennessee taxes dividends and interest at 6%, but it’s still lower overall than Georgia.