Tennessee’s Current Median Household Annual Income Stands At $56,071.
(The Center Square) – In Tennessee, households must earn a minimum of $109,765 per year to be among the top one-fifth of the state’s income earners, according to a new 24/7 Wall St. analysis examining the threshold of “richness” in all 50 states.
The total share of household income in Tennessee controlled by that top 20% of earners is 51.1%, 24/7 Wall St. reports. In the nation as a whole, the richest 20% of households earn at least $131,350 annually, according to the analysis.
And to be in the top 5% of income earners in Tennessee, households need to make at least $205,063 per year. The state’s current median household income stands at $56,071 annually, the report says.
To determine the income needed to be classified as rich in each state, 24/7 Wall St. examined household income data from a 2019 survey conducted by the U.S. Census Bureau. In those states where the top 20% income threshold is higher than most – such as Massachusetts – residents face a higher cost of living, the analysis concluded.
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What Households Must Earn to Be in Top 20%
| State | Minimum Annual Income to Be in Top 20% of Earners | Share of Income Controlled by Top 20% | Minimum Annual Income to Be in Top 5% | Median Household Income |
| Alabama | $106,225 | 50.5% | $189,695 | $51,734 |
| Alaska | $144,736 | 47.6% | $242,208 | $75,463 |
| Arizona | $120,982 | 49.7% | $220,936 | $62,055 |
| Arkansas | $98,014 | 51.0% | $176,997 | $48,952 |
| California | $162,657 | 52.0% | $250,000 | $80,440 |
| Colorado | $147,217 | 49.3% | $250,000 | $77,127 |
| Connecticut | $161,063 | 53.4% | $250,000 | $78,833 |
| Delaware | $134,594 | 48.7% | $235,059 | $70,176 |
| Florida | $117,017 | 51.9% | $226,319 | $59,227 |
| Georgia | $122,832 | 51.4% | $233,979 | $61,980 |
| Hawaii | $153,431 | 47.5% | $250,000 | $83,102 |
| Idaho | $111,822 | 47.6% | $199,218 | $60,999 |
| Illinois | $137,248 | 51.2% | $250,000 | $69,187 |
| Indiana | $110,606 | 49.5% | $194,407 | $57,603 |
| Iowa | $113,238 | 48.1% | $199,328 | $61,691 |
| Kansas | $117,303 | 48.9% | $211,256 | $62,087 |
| Kentucky | $103,349 | 50.8% | $185,241 | $52,295 |
| Louisiana | $107,505 | 52.3% | $199,417 | $51,073 |
| Maine | $111,898 | 48.7% | $202,639 | $58,924 |
| Maryland | $164,179 | 49.1% | $250,000 | $86,738 |
| Massachusetts | $171,613 | 50.9% | $250,000 | $85,843 |
| Michigan | $115,802 | 50.0% | $209,099 | $59,584 |
| Minnesota | $138,273 | 48.2% | $244,552 | $74,593 |
| Mississippi | $94,744 | 52.0% | $172,337 | $45,792 |
| Missouri | $111,802 | 49.9% | $201,541 | $57,409 |
| Montana | $108,877 | 49.6% | $187,867 | $57,153 |
| Nebraska | $117,570 | 48.0% | $203,793 | $63,229 |
| Nevada | $119,790 | 50.6% | $221,626 | $63,276 |
| New Hampshire | $145,865 | 48.0% | $250,000 | $77,933 |
| New Jersey | $171,760 | 51.2% | $250,000 | $85,751 |
| New Mexico | $105,652 | 50.8% | $192,480 | $51,945 |
| New York | $151,926 | 54.4% | $250,000 | $72,108 |
| North Carolina | $113,302 | 51.0% | $213,009 | $57,341 |
| North Dakota | $121,975 | 49.1% | $220,611 | $64,577 |
| Ohio | $113,789 | 50.1% | $204,940 | $58,642 |
| Oklahoma | $107,252 | 50.9% | $194,523 | $54,449 |
| Oregon | $129,218 | 48.6% | $229,747 | $67,058 |
| Pennsylvania | $124,987 | 50.9% | $233,467 | $63,463 |
| Rhode Island | $133,423 | 49.5% | $235,524 | $71,169 |
| South Carolina | $112,365 | 50.9% | $204,826 | $56,227 |
| South Dakota | $111,512 | 47.6% | $190,156 | $59,533 |
| Tennessee | $109,765 | 51.1% | $205,063 | $56,071 |
| Texas | $128,878 | 51.0% | $241,212 | $64,034 |
| Utah | $132,560 | 47.1% | $235,835 | $75,780 |
| Vermont | $120,270 | 48.4% | $212,823 | $63,001 |
| Virginia | $153,003 | 50.5% | $250,000 | $76,456 |
| Washington | $151,396 | 49.6% | $250,000 | $78,687 |
| West Virginia | $97,399 | 49.6% | $171,816 | $48,850 |
| Wisconsin | $117,929 | 47.8% | $202,582 | $64,168 |
| Wyoming | $120,196 | 47.2% | $199,944 | $65,003 |
Source: 24/7 Wall St.
