Financial Profile: Tennessee
Financial landscape, tax rates, cost of living, and median income scoring for Tennessee residents.
Tennessee at a Glance
Avg Salary
$54,000
Cost of Living
91
Top Tax Rate
None
Adjusted Income
$59,340
Monthly Take-Home
$3,781
Max Rent (30%)
$1,350
Financial Genome at Median Income
Scores calculated for someone earning $54,000/yr in Tennessee with typical expenses.
PPI
53
C+
FPI
25
F
LRS
56
C+
REW
30
D
Living in Tennessee: Financial Overview
Tennessee has no state income tax on wages. The former tax on investment income was fully repealed in 2021.
- No state income tax
- Booming Nashville economy
- Low cost of living
Major Cities
Nashville, Memphis, Knoxville, Chattanooga
With a cost of living index of 91 (below the national average of 100), your dollar goes further in Tennessee. A $60,000 salary here has the purchasing power equivalent of $65,934 in an average-cost area.
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