A good salary in Memphis, TN is anything over $39,000. That’s because the median income in Memphis is $39,000, which means if you earn more than that you’re earning more than 50% of the people living in Memphis. The average salary in Memphis is $47,593. A good hourly wage in Memphis is $18.75 per hour.
How much do you need to make to live comfortably in Memphis?
In Memphis, the site lists the median income as $38,230 a year, but says the needed income if you’re a homeowner is $63,595 a year, and that the needed income if you’re a renter is $69,331.
What is a good salary to make in Tennessee?
How much does a Comfortable make in Tennessee? As of May 17, 2022, the average annual pay for the Comfortable jobs category in Tennessee is $39,591 a year. Just in case you need a simple salary calculator, that works out to be approximately $19.03 an hour. This is the equivalent of $761/week or $3,299/month.
What is the highest paying job in Memphis?
Internists, General
Detailed List Of Highest Paying Jobs In Memphis
| Rank | Job Title | Average Salary |
|---|---|---|
| 1 | Internists, General | $274,720 |
| 2 | Surgeons | $265,790 |
| 3 | Physicians and Surgeons, All Other | $238,530 |
| 4 | Pediatricians, General | $220,990 |
What is the cost of living in Memphis?
Memphis cost of living is 76.0
| COST OF LIVING | Memphis | Tennessee |
|---|---|---|
| Grocery | 93.3 | 95.4 |
| Health | 98.4 | 101.9 |
| Housing | 37.1 | 71.2 |
| Median Home Cost | $123,800 | $231,600 |
How much 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.
How much is minimum wages in Memphis Tennessee?
NASHVILLE, Tenn. (WTVF) — On Tuesday, a bill is to be discussed by a Senate committee to increase the minimum wage in Tennessee from $7.25 to $15 over four years. The wages would go up to $12 in 2023, $13 in 2024, $14 in 2025 and finally to $15 in 2026.
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. The average income of the top 20% comes in at $212,201.
What is a good salary for a single person?
The average salary for a single person is $1,089 for men and $900 for women per week in the US. This equates to an annual income of $56,628 for men and $46,800 for women on average.
What is the best salary to live comfortably?
This means a single person needs to make at least $66,434 after taxes to live comfortably. After their basic living expenses are covered, an individual could spend $19,930 on wants and set $13,287 aside for savings or debt paydown.
What is the highest paying job in Tennessee?
Vice President, Field Operations
Detailed List Of Highest Paying Jobs In Tennessee
| Rank | Job Title | Average Salary |
|---|---|---|
| 1 | Vice President, Field Operations | $182,008 |
| 2 | Consultant And Sales Representative | $176,557 |
| 3 | Primary Care Physician | $172,355 |
| 4 | Chief Operating Officer, Chief Technology Officer | $165,128 |
Why is rent so high in Memphis?
The increasing number of renovations is related to what national experts say is the main driver of rent increases in places like Memphis: more people deciding to rent there. During earlier parts of the pandemic, many people moved out of cities and more young adults decided to live with friends or family.
Is Memphis a poor city?
In 2019, Memphis continued in second place in both overall poverty and child poverty among large Metropolitan Statistical Areas (MSA) with populations greater than 1,000,000 and in child poverty among large cities with populations greater than 500,000.
Is Memphis a expensive city?
Memphis’s housing expenses are 34% lower than the national average and the utility prices are 3% higher than the national average. Transportation expenses like bus fares and gas prices are 11% lower than the national average. Memphis has grocery prices that are 9% lower than the national average.
What is a good hourly 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 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.
Whats the average salary in TN?
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 does Chick Fil A pay in TN?
The average Chick-fil-A hourly pay ranges from approximately $10 per hour for a Hostess/Cashier to $21 per hour for an Executive Director. Chick-fil-A employees rate the overall compensation and benefits package 3.4/5 stars.
What does Mcdonald’s pay in Tennessee?
Mcdonalds Restaurant Salary in Tennessee
| Annual Salary | Hourly Wage | |
|---|---|---|
| Top Earners | $61,105 | $29 |
| 75th Percentile | $55,464 | $27 |
| Average | $41,693 | $20 |
| 25th Percentile | $37,133 | $18 |
What state has the highest minimum wage?
The 10 States with the Highest Minimum Wage Rates in 2022
- Maine $12.75 (tie)
- Arizona $12.80.
- New Jersey $13 (tie)
- Connecticut $13 (tie)
- New York $13.20.
- 8. California $14.
- Massachusetts $14.25.
- Washington $14.49. Washington has been a leading state when it comes to high minimum wages for quite some time.
What is middle class in Memphis?
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.
