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 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 qualifies as middle class income?
The Pew Research Center has put a financial definition to the term “middle income.” To be considered part of that group in 2021—which is synonymous with middle-class, according to Pew—a single American must have earned $30,003 to $90,010, according to a new set of reports released Wednesday.
What is the top 10% income in Tennessee?
31. Tennessee
- Median income: $56,071.
- Top 10% income: $199,456.
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 |
What is the top 1 percent of income in Tennessee?
Tennessee
- Top 1% income threshold: $492,583.
- Top 5% income threshold: $201,597.
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 do upper middle class earn?
The fourth earns between Rs 500,000 and Rs 1 million a year and could be classified as the upper middle class and the richest group of households earn more than Rs 1 million in a year.
Is 70k a good salary for a single person?
An income of $70,000 surpasses both the median incomes for individuals and for households. By that standard, $70,000 is a good salary.
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.
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.
What is 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 is the wealthiest county in Tennessee?
Williamson
Tennessee counties ranked by per capita income
| Rank | County | Per capita income |
|---|---|---|
| 1 | Williamson | $27,925 |
| 2 | Wilson | $27,814 |
| 3 | Davidson | $27,780 |
| 4 | Knox | $27,349 |
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 |
Is Tennessee rich or poor?
From the 2022 edition of Rich States, Poor States.
Current Economic Outlook Ranks (2022 Edition)
| State | 2022 Ranking |
|---|---|
| Wyoming | 10th |
| Texas | 11th |
| South Dakota | 12th |
| Tennessee | 13th |
What is a good salary in Nashville?
In 2017, GoBankingRates.com estimated that residents should earn at least $70,150 annually. Actual median household income lags far behind, at $49,891. In contrast, the national median income is $55,300, according to the U.S. Census Bureau.
What is the average salary in Tennessee 2020?
According to Business.org, Tennessee’s average salary is $34,890 per year. With that salary, it would take 71.2 hours to afford rent for a one-bedroom apartment in Tennessee.