The following data are the most current income statistics for Tennessee from the US Census Bureau, are in 2019 inflation adjusted dollars and are from the American Community Survey 2019 5-year estimates. Median Household Income: $53,320. Average Household Income: $74,750.
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What is a good salary for a single person in Tennessee?
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.
What is the average income for a single?
The U.S. Census Bureau lists the annual real median personal income at $35,977 in 2019 with a base year of 2019.
What is a livable wage in Tennessee?
Living Wage Calculation for Davidson County, Tennessee
| 1 ADULT | 2 ADULTS (1 WORKING) | |
|---|---|---|
| 0 Children | 2 Children | |
| Living Wage | $14.84 | $30.69 |
| Poverty Wage | $6.13 | $12.60 |
| Minimum Wage | $7.25 | $7.25 |
What is a good wage in Tennessee?
Hourly Rate Salary in Tennessee
| Annual Salary | Hourly Wage | |
|---|---|---|
| Top Earners | $58,754 | $28 |
| 75th Percentile | $45,593 | $22 |
| Average | $37,551 | $18 |
| 25th Percentile | $27,262 | $13 |
What is considered low income for a single person in Tennessee?
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 considered low income for a single person?
By government standards, “low-income” earners are men and women whose household income is less than double the Federal Poverty Level (FPL). For a single person household, the 2019 FPL was $12,490 a year. That means that a single person making less than $25,000 a year would be considered low income.
What is high income for a single person?
For its purposes, the Pew Research Center considers a household to be upper class if its income is double the U.S. median household income. This means that, on average, a single person living alone needs to make just $78,281 to be considered upper class.
Is 75k a good salary 2020?
Today, $75,000 is a statistical gateway to the modern middle class: Though it’s more than what many Americans earn, it’s still not enough to relieve the many anxieties rooted in money.
What is a good salary to live comfortably on?
The median necessary living wage across the entire US is $67,690. The state with the lowest annual living wage is Mississippi, with $58,321. The state with the highest living wage is Hawaii, with $136,437.
What is considered middle class 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.
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 jobs are in high demand in Tennessee?
Detailed List Of The Fastest Growing Jobs In Tennessee
| Rank | Job Title | Jobs in 2024 |
|---|---|---|
| 1 | Physical Therapist Assistant | 3,630 |
| 2 | Diagnostic Medical Sonographer | 2,220 |
| 3 | Tax Preparer | 3,400 |
| 4 | Physical Therapy Aide | 1,750 |
How much do you need to make an hour to live comfortably in Tennessee?
Living Wage Calculation for Tennessee
| 1 ADULT | 2 ADULTS (1 WORKING) | |
|---|---|---|
| 0 Children | 2 Children | |
| Living Wage | $13.25 | $28.97 |
| Poverty Wage | $6.13 | $12.60 |
| Minimum Wage | $7.25 | $7.25 |
How much do you need to make to live comfortably alone?
In order to just get by in California for a single person, the recommended annual income is $74,371.
Is Tennessee expensive to live in?
Is it expensive to live in Tennessee? In short, no, Tennessee is actually a very inexpensive place to live. According to the 2021 Cost of Living Index, Tennessee ranks sixth place for lowest cost of living in the United States.With a score of 88.7, Tennessee comes in well below the national average.
What is considered poor in Tennessee?
Income and Poverty
Household Income: Tennessee’s median household income continued to increase — from about $51,000 in 2017 to more than $52,000 in 2018 (Figure 1).* In 2018, the poverty threshold for a family of three was about $20,000 per year.
What is considered poverty income in TN?
In order to qualify for CoverRx, applicants must earn incomes at or below 138% of the federal poverty level (FPL).
Income Guidelines.
| Number in Household | Maximum Income |
|---|---|
| 6 | $49,100 |
| 7 | $55,366 |
| 8 | $61,631 |
| Based on 2021 federal poverty guidelines. Current as of 2/1/2021. Income guidelines are subject to change |
What is Tennessee poverty?
The poverty rate in Tennessee is 16.7%. One out of every 6 residents of Tennessee lives in poverty.
What is a middle class income for a single person?
Range of household incomes needed to be considered middle class, by family size
| State | Single | Couple |
|---|---|---|
| Arkansas | $22,675 – $68,025 | $32,067 – $96,202 |
| California | $29,851 – $89,552 | $42,215 – $126,646 |
| Colorado | $26,876 – $80,629 | $38,009 – $114,026 |
| Connecticut | $28,364 – $85,091 | $40,112 – $120,336 |
What income is the poverty line?
2021 POVERTY GUIDELINES FOR THE 48 CONTIGUOUS STATES AND THE DISTRICT OF COLUMBIA
| Persons in family/household | Poverty guideline |
|---|---|
| 1 | $12,880 |
| 2 | $17,420 |
| 3 | $21,960 |
| 4 | $26,500 |
