Upper Class Income In Tennessee
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According to senior researcher rakesh kochhar.
Upper class income in tennessee. Average top 5 income. Overall workers in tennessee are among the lowest paid in the country. A new study from the pew research center says the american middle class is stable in size but is slowly losing ground due to upper income families. Household income quintiles from the u.
However the size of this gap can vary widely depending on where you live. Lower limit of top 5. Tennessee had a 44 7 percent average of middle class households a 57 508 median household income adjusted for cost of living a 177 500 median home value a 66 2 percent home ownership rate and. Tennessee ranked 6th among all states with a net migration of 3 215 to the.
The threshold to be considered upper income is 118 080 nationally but that figure is different when broken down by the state level. For example if you live in new york or washington d c you ll need to earn four times the median income to crack the top 10. 2020 metro income data including memphis median household. While for the middle class it was 78 442 and for the lower class it was 25 624 in.
Upper middle class households were defined as households with an adjusted gross income between 100 000 and 200 000. Memphis tennessee household income. The census acs 1 year survey reports that the median household income for the memphis tennessee metro area was 54 859 in 2019 the latest figures available memphis median household income is 1 212 lower than the median tennessee household income and 10 853 less than the us median household income. To determine the income it takes for a family to be considered middle class in every state 24 7 wall st.
However the salary of the average 1 percenter in the state remains fairly high on a relative basis at 947 021. According to the census acs 1 year survey the median household income for tennessee was 56 071 in 2019 the latest figures available compared to the median us household income tennessee median household income is 9 641 lower 2020 census acs data including 2020 tennessee household income numbers will be released in september of 2021.
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