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.
What is considered a good income in Tennessee?
$28,414 is the 25th percentile. Salaries below this are outliers. $63,688 is the 90th percentile. Salaries above this are outliers.
What is the income level for 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. However, an upper class income also depends on where you live.
What is a middle class income in Tennessee?
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.
What is a good salary in Nashville TN?
In 2017, GoBankingRates.com estimated that residents should earn at least $70,150 annually. Actual median household income lags far behind, at $49,891.
What is a livable salary in Tennessee?
The values are reported in 2020 dollars. For a full breakdown of the data, click here. Based on MIT’s calculation, the average living wage for a single adult with no children to get by in Tennessee is $13.25. The wage is $6.00 higher than the minimum wage.
What is the top 1 percent of income in Tennessee?
Tennessee
- Top 1% income threshold: $492,583.
- Top 5% income threshold: $201,597.
Who belongs to upper class?
Today, celebrities, politicians, investors, and other wealthy individuals fall into this group. In the United States, those who lived—and continue to live—in leadership roles in society are often considered part of the upper class. These are people whose status has been passed down through generations.
What is an upper class lifestyle?
Upper class — this is a term about a noble social class with a lot of admiration. These people are very rich and normally, their immense wealth has been passed through many generations.
What are the 5 social classes?
Gallup has, for a number of years, asked Americans to place themselves — without any guidance — into five social classes: upper, upper-middle, middle, working and lower. These five class labels are representative of the general approach used in popular language and by researchers.
Is Tennessee a wealthy state?
Tennessee is the thirty-fifth-richest state in the United States of America, with a per capita income of $28,764 (2017).
What is the average household income in TN?
Table
| Population | |
|---|---|
| Transportation | |
| Mean travel time to work (minutes), workers age 16 years+, 2016-2020 | 25.4 |
| Income & Poverty | |
| Median household income (in 2020 dollars), 2016-2020 | $54,833 |
How many millionaires are in Tennessee?
139,335
List
| Rank | State | Number of millionaire households |
|---|---|---|
| 19 | Tennessee | 139,335 |
| 20 | Indiana | 138,739 |
| 21 | Wisconsin | 138,283 |
| 22 | Missouri | 132,176 |
Where do rich live in Nashville?
Belle Meade – With homes ranging all the way up to $18 million, this is one of the most expensive areas in the entire city. You will find many homes on large lots with at least 5,000 square feet in this neighborhood. Green Hills – Many homes in this neighborhoods range from $1 to $3 million.
Is it cheaper to live in Oklahoma or Tennessee?
The cost of living in Nashville, TN is 2.2% higher than in Oklahoma City, OK. You would have to earn a salary of $61,343 to maintain your current standard of living. Employers in Nashville, TN typically pay 1.7% more than employeers in Oklahoma City, OK.
What is middle class in Nashville TN?
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.
Is the cost of living high in Tennessee?
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 the richest city in Tennessee?
Top 9 Richest Cities In Tennessee
- City 8: Collierville.
- City 7: Germantown.
- City 6: Lookout Mountain.
- City 5: Nolensville.
- City 4: Oak Hill.
- City 3: Brentwood.
- City 2: Belle Meade.
- City 1: Forest Hills. – Median household income: $299,069 – Median property value: $853,000.
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 wealthiest zip code in Tennessee?
10 Richest Tennessee Zip Codes
| Rank | Zip Code | Mean Income |
|---|---|---|
| 1 | 37350 | $241,946 |
| 2 | 37220 | $203,090 |
| 3 | 38120 | $200,657 |
| 4 | 37069 | $198,443 |
How do you know if someone is upper class?
Pew defines the upper class as adults whose annual household income is more than double the national median. That’s after incomes have been adjusted for household size, since smaller households require less money to support the same lifestyle as larger ones.