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While for the middle class it was 78 442 and for the lower class it was 25 624 in.
Upper class income tennessee. For a couple upper. 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. For a single person upper class means an annual income of 72 126 or more but that amount will not enable that individual to buy a typical new york city or san francisco home. Tennessee ranked 6th among all states with a net migration of 3 215 to the.
Upper middle class households were defined as households with an adjusted gross income between 100 000 and 200 000. 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. Four states in our top 10 florida texas nevada and washington have no income tax. Household income quintiles from the u.
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. Furthermore tennessee does not have a personal income tax but does tax some dividends and interest. However the size of this gap can vary widely depending on where you live. Upper middle class americans are gravitating toward tax havens.
By definition there will always be a significant gap between what the median wage is in a state versus what the top 10 earn. Reviewed data on the upper and lower bounds of u s. The 2018 piece from pew reported that in 2016 the median income for the upper income class was 187 872. To determine the income it takes for a family to be considered middle class in every state 24 7 wall st.
Two other states north carolina and colorado have a flat rate income tax.
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