Table
| Population | |
|---|---|
| Income & Poverty | |
| Median household income (in 2020 dollars), 2016-2020 | $54,833 |
| Per capita income in past 12 months (in 2020 dollars), 2016-2020 | $30,869 |
| Persons in poverty, percent | 13.6% |
What is considered middle income in Tennessee?
(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 considered 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.
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 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 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 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.
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 a comfortable salary in Nashville?
The price of living in Nashville was found to be higher than in New Orleans. There, residents earn a median income of just $37,488 but need $70,413 to be comfortable.
What salary is considered wealthy?
In the U.S. overall, it takes a net worth of $2.2 million to be considered “wealthy” by other Americans — up from $1.9 million last year, according to financial services company Charles Schwab’s annual Modern Wealth Survey.
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.
How much money do you need to live comfortably in Tennessee?
–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 good hourly wage in Tennessee?
$13.90 is the 25th percentile. Wages below this are outliers. $39.10 is the 90th percentile. Wages above this are outliers.
What are Top 10 Highest Paying Cities for Hourly Rate Jobs in Tennessee.
| City | Johnson City |
|---|---|
| Annual Salary | $40,724 |
| Monthly Pay | $3,394 |
| Weekly Pay | $783 |
| Hourly Wage | $19.58 |
What is the average household income in Tennessee?
$54,833
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 |
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.
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 the income limit for food stamps in TN?
Who is eligible for Tennessee Food Stamp Program?
| Household Size* | Maximum Income Level (Per Year) |
|---|---|
| 1 | $17,667 |
| 2 | $23,803 |
| 3 | $29,939 |
| 4 | $36,075 |
Whats the most you can make on Section 8?
FY 2022 Section 8 Income Limits (Effective 5/1/2022)
| Number of Persons | Extremely Low Income 30% of Median | Very Low Income 50% of Median |
|---|---|---|
| 1 | $25,050 | $41,700 |
| 2 | $28,600 | $47,650 |
| 3 | $32,200 | $53,600 |
| 4 | $35,750 | $59,550 |
What qualifies you for Section 8 in Tennessee?
Determining Eligibility and Qualifying for Section 8
Your household income level—which should be at 80 percent or below the federal poverty line. Number of household family members. U.S. Citizenship status. Past eviction history.
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 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.