Study: How much do you need to make to be middle class in Nashville?
The study found that Nashville is ranked No. 52 among the largest cities in the U.S.
NASHVILLE, Tenn. (WSMV) - The middle class has been the focal point of America for quite some time, but according to a new study, the middle class has been shrinking over the last 50 years.
So, just how much do you need to make to be considered middle class in Tennessee and, more specifically, Nashville in 2023? A study conducted by Smart Asset found what you need to earn to be considered middle class in 100 of the largest cities in the U.S. and all 50 states.
The study says Nashville is ranked No. 52 among the 100 largest cities in the U.S., with a median household income of $64,857. The middle income lower limit is just over $43,000, and the upper limit is just shy of $130,000.
For the entire state of Tennessee, the median household income to be considered middle class is $59,695, with the lower limit being just shy of $40,000 and the upper limit at $119,390.
The study found that Northeastern middle-class salaries are around 20% higher than salaries in the South, and that also accounts for the difference in cost of living.
- Northeast middle-class salaries: $60K to $170K
- Southern middle-class salaries: $35K to $100K
Smart Asset determined the income limits for the middle class by analyzing the U.S. Census Bureau data from its 2021 1-year American Community Survey for the median household income in all 50 states and the 100 largest cities.
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