The recommended salary in Nashville is $4,323 per month or $51,876 annually. This total reflects a salary that would allow a renter to live comfortably and afford to cover the median rent for a one-bedroom apartment in Nashville which sits at $1,297.
What is a good salary to live in Nashville?
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. Between 2016 and 2017, Music City experienced the greatest cost-of-living increase in the nation, GoBankingRates determined.
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.
How much does a single person need to make to live in Nashville TN?
How much money does it take for a single person to live comfortably in Nashville? $61,015 a year, according to a new report from GoBankingRates.com. Nashville’s salary needs were on par with Atlanta, New Orleans and Denver, but emerged as more expensive than peer cities Raleigh, Austin and Charlotte.
Is 80k a good salary in Nashville?
NASHVILLE, Tenn. –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.
Can I afford to live in Nashville?
According to the U.S. Department of Housing and Urban Development, affordable housing is units available for people who make up to 80% of the area median income. For a family of four in Nashville, that would be $67,450 or less.
What is considered a good salary in Tennessee?
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 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 upper class 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.
Why is rent so high in Nashville?
Two major contributors to the increase are limited supply of rental units and the number of high-income households entering the rental market. A recent study by Nashville-based Apartment Insiders found the incomes for the average renter in the city had grown 25% over the last year to $70,000.
Is it cheaper to live in Nashville or Atlanta?
Atlanta is 6.0% more expensive than Nashville-Davidson. Atlanta housing costs are 1.1% less expensive than Nashville-Davidson housing costs. Health related expenses are 5.1% less in Atlanta.
What is Nashville’s cost of living?
The cost of living in Nashville is 101.4, putting it slightly higher than the national average and about 14% higher than the Tennessee state average.
What is the average income in Nashville TN?
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 80k a year after taxes in Tennessee?
$63,512 per year
If you make $80,000 a year living in the region of Tennessee, USA, you will be taxed $16,488. That means that your net pay will be $63,512 per year, or $5,293 per month. Your average tax rate is 20.6% and your marginal tax rate is 29.7%.
Is rent expensive in Nashville?
The average highest rent is just over $2300 in downtown Nashville. And the lowest rent average is about $1,079 in the Bordeaux-Whites Creek area. The data also showed that rent had increased almost 13.92% from the first quarter of 2021. And the average rent price is $1530.
What is an affordable suburb of Nashville?
With a median home sale price of $284,000, almost $130K less than Nashville, La Vergne lands the number one spot on our list of best affordable Nashville suburbs.
Where does Nashville rank in cost of living?
Nashville-Davidson cost of living is 101.4
| COST OF LIVING | Nashville-Davidson | USA |
|---|---|---|
| Overall | 101.4 | 100 |
| Grocery | 102 | 100 |
| Health | 96.7 | 100 |
| Housing | 113.3 | 100 |
What’s 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 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.
What is 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 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.