VitalSigns-2018
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
AFFORDABILITY<br />
The Nashville region’s growth since the Great Recession has resulted in a 5.3 percent increase in median household income in the decade<br />
between 2006 and 2016, equating to $3,042. The first quarter of <strong>2018</strong> found average weekly wages in Davidson County increasing by 6.2 percent,<br />
which was well above the U.S. average of a 3.7 percent increase in wages.<br />
CHANGE IN MEDIAN HOUSEHOLD INCOME FROM 2006 - 2016<br />
Source: American Community Survey, 1 Year estimates, 2016<br />
Austin<br />
$ 7, 8 2 0<br />
12.38%<br />
Denver<br />
$6,223<br />
9.47%<br />
Portland<br />
Raleigh<br />
$4,782<br />
$4,601<br />
7.4 8 %<br />
6.86%<br />
Nashville<br />
$3,042<br />
5.34%<br />
Charlotte<br />
Columbus<br />
Minneapolis<br />
Clarksville<br />
$1,027<br />
$653<br />
-$1,109<br />
-$942<br />
1.74%<br />
1.09%<br />
-1.49%<br />
-1.80%<br />
Takeaway: When adjusted for<br />
inflation, many areas have seen<br />
median household incomes<br />
decline. The Nashville MSA median<br />
household income grew by 5.3% in<br />
the past decade.<br />
Atlanta<br />
-$3,757<br />
-5.66%<br />
Indianapolis<br />
-$3,992<br />
-6.57%<br />
Despite these increases in income, there is a growing concern among Middle Tennesseans that the region is becoming increasingly unaffordable<br />
for low-income and middle-income residents.<br />
Assessment of earnings from 21 of the most common jobs in Nashville shows that 13 of the jobs have earnings that would not cover fair market<br />
rent for a two-bedroom home, making these employees housing-cost-burdened.<br />
Poll result: The <strong>2018</strong> Vital Signs poll found that four out of 10 respondents stated their household<br />
has difficulty covering monthly expenses; this is up from 34 percent in 2017.<br />
42
Change language