(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 middle class income in Tennessee?
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 considered a good income in Tennessee?
How much does a Comfortable make in Tennessee? As of Jul 19, 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 qualifies as middle class income?
So who is in the middle class? Broadly, Pew Research Center defines middle-class households as making two-thirds to double America’s median income. That adds up to an income range of about $30,000 to $90,000 for single Americans in 2020 dollars.
What is the average individual income in Tennessee?
Poverty is a measure of income, and is an important indicator for many federal, state, and local assistance programs. 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.
What is a living wage 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 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.
How much 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 salary for a single person in Tennessee?
Person Salary in Tennessee. $25,475 is the 25th percentile. Salaries below this are outliers. $39,683 is the 75th percentile.
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.
What salary is considered high class?
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 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 wealthiest zip code in Tennessee?
In Tennessee, the 37215 ZIP code, located in Nashville in the Nashville-Davidson–Murfreesboro–Franklin, TN metro area, is the most expensive place to buy a home.
This is the Most Expensive ZIP Code in Tennessee.
| State: | Tennessee |
|---|---|
| Most expensive ZIP code: | 37215 |
| City: | Nashville |
| Median home sale price, 2020: | $719,000 |
| Median household income: | $127,203 |
What is a good median household income?
Median household income was $67,521 in 2020, a decrease of 2.9 percent from the 2019 median of $69,560 (Figure 1 and Table A-1).
How much is $45 000 a year hourly?
approximately $22.06 per hour
A salary of $45,000 per year is approximately $22.06 per hour, but factors including taxes and benefits will affect annual salary to hourly pay conversions.
What is a livable salary in Nashville?
Cost-of-living increases have hit Nashville for years. 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.
Is $27 an hour good pay?
Two people who each work full-time and earn $27 dollars an hour have a net take-home of $7014, which is a pretty solid amount for living well in most places!
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 |
What is the poverty line in Tennessee 2022?
Income Guidelines
| Number in Household | Maximum Income |
|---|---|
| 6 | $51,322 |
| 7 | $57,836 |
| 8 | $64,349 |
| Add $4,720 for each household over 8 persons. Based on 2022 federal poverty guidelines. Current as of 1/12/2022.Income guidelines are subject to change. |
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 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 |