What is the average household income in Nashville TN?

The average annual household income in Nashville is $94,899, while the median household income sits at $61,710 per year.

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.

What is considered rich in Nashville TN?

Here's what it takes to be considered 'rich' 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.

What is middle class in Nashville TN?

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 income 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.

Mean and Median Household Income

Where do rich live in Nashville?

Known for large country estates and rolling hills, Brentwood is an affluent suburb south of Nashville and one of the wealthiest cities in the country. The wealth in the area is relatively new too and has luxury car dealers, such as Mini, Porsche, and Audi, to thank for its growth.

How much does a middle class family make in Tennessee?

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 salary is upper middle class?

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 Nashville a wealthy city?

Now, the bad news: Nashville's metro area has an abundance of wealthy areas, some of which are among the wealthiest in the nation. GAIN ACCESS TO EVERY LOCAL INSIGHT, LEAD AND MORE!

What income is considered rich?

With a $500,000+ income, you are considered rich, wherever you live! According to the IRS, any household who makes over $500,000 a year in 2022 is considered a top 1% income earner. Of course, some parts of the country require a higher income level to be in the top 1% income, e.g. Connecticut at $580,000.

What is considered upper middle class in TN?

Upper-middle class households were defined as households with an adjusted gross income between $100,000 and $200,000. Tennessee ranked 6th among all states with a net migration of 3,215 to the state during the time period with 10,664 moving to the Volunteer State and 7,449 moving elsewhere.

What is considered lower class in TN?

Lower-income households had incomes less than $45,200 and upper-income households had incomes greater than $135,600 (incomes in 2016 dollars), Kochhar said.

How much money do you need to make 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 the richest town in TN?

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.

Why is Brentwood TN so rich?

Brentwood placed high on the list because of the number of luxury car dealerships in the area, which includes Mini, Porsche and Audi, which all opened up in the Mallory Park business area around the beginning of the year.

What is the richest place in Tennessee?

The richest town in Tennessee is Belle Meade. Belle Meade is a suburb of Nashville.

How much should I be making at 30?

From ages 25-34, the median wage is $60,000 and will increase to a median wage of $90,000 by ages 45-59. Compare that with a major in the health field, which has a median wage of $53,000 at ages 25-34 and grows to a median wage of $72,000 by ages 45-59.

What percentage of American households make over 300k?

Roughly 4,479,896 made $200,000 or more in full-year 2016. An income of $300,000 approached the 98.9% in 2016. 1,895,340 workers pulled down $300,000 or more in full-year 2016.

What's the average salary in Tennessee?

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.

What is the average wage in Tennessee?

“We are pleased to report that the average wage for all occupations in Tennessee increased $0.30 cents per hour from $19.55 to $19.85/hourly,” Commissioner Burns Phillips said. Increase in the state's average hourly wage represents a yearly average wage of $41,296.00.

What salary is enough to live comfortably?

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 the nicest suburb of Nashville?