Economy, jobs and prices in Tennessee, United States: official figures
The economy of Tennessee (gross domestic product) was worth $586.2 billion in 2025 at current prices, 1.9% of the US total of $30.86 trillion; 16th largest of 51. In current dollars it was up 4.9% on 2024.
How fast is the economy of Tennessee growing?
After adjusting for inflation, real GDP in Tennessee grew 2.1% in 2025, against 2.3% for the United States; 21st fastest-growing of 51.
Source: U.S. Bureau of Economic Analysis · saved copyWhat is the GDP per capita of Tennessee?
Dividing 2025 GDP by the Census Bureau's population estimate gives $80,137 of output per resident, against $90,294 for the US economy divided by the population of the 50 states and DC; 22nd lowest of 51.
Source: U.S. Bureau of Economic Analysis · saved copyIs the economy of Tennessee growing or shrinking?
In the second quarter of 2026, real GDP in Tennessee grew at an annual rate of 1.7% (United States: 2.2%); tied for 25th fastest-growing of 51.
Source: U.S. Bureau of Economic Analysis · saved copyWhat are the main industries in Tennessee?
In 2025 the largest private industry in Tennessee's economy was real estate, rental and leasing (12.6% of GDP), followed by manufacturing (11.6%) and health care and social assistance (9.2%). Government accounted for 9.8%; the manufacturing share was 14th highest of 51 (United States: 9.5%).
Source: U.S. Bureau of Economic Analysis · saved copyHow much do people in Tennessee spend?
Consumer spending (personal consumption expenditures) in Tennessee came to $53,530 per person in 2025 (United States: $61,062); 11th lowest of 51.
Source: U.S. Bureau of Economic Analysis · saved copyIs Tennessee expensive to live in?
Prices in Tennessee were 8.1% below the national average in 2024, by BEA's regional price parity of 91.9 (US = 100), which covers goods, services and housing; 14th least expensive of 51.
Source: U.S. Bureau of Economic Analysis · saved copyWhat is the inflation rate in Tennessee?
Prices in Tennessee rose 2.4% in 2024, measured by BEA's implicit regional price deflator, against 2.6% nationally (PCE price index).
Source: U.S. Bureau of Economic Analysis · saved copyWhat is the per capita income in Tennessee?
Personal income per person in Tennessee was $69,274 in 2025, against $77,028 for the United States; 20th lowest of 51. It was up 4.7% on 2024 and up 33.3% on 2020, before inflation.
Source: U.S. Bureau of Economic Analysis · saved copyWhat is the disposable income per person in Tennessee?
After taxes, disposable personal income per person was $62,738 in 2025 (United States: $67,251); 23rd lowest of 51.
Source: U.S. Bureau of Economic Analysis · saved copyHow far does income go in Tennessee?
Adjusted for local price levels, real personal income per person in Tennessee was $58,582 in 2024 in 2017 dollars (United States: $59,195); 25th highest of 51.
Source: U.S. Bureau of Economic Analysis · saved copyWhat is the median household income in Tennessee?
Median household income in Tennessee was $71,997 in 2024 (margin of error ±$638), against $81,604 for the United States; 11th lowest of 51 by the point estimate. It was up 3.4% on 2023 after adjusting for inflation (American Community Survey).
Source: U.S. Census Bureau · saved copyHow unequal are incomes in Tennessee?
The Gini index of household income inequality in Tennessee was 0.475 in 2024 (0 means equal incomes, 1 means one household has everything; United States: 0.481); tied for 12th most unequal of 51.
Source: U.S. Census Bureau · saved copyWhat is the unemployment rate in Tennessee?
The unemployment rate in Tennessee was 3.4% in September 2026 (seasonally adjusted, preliminary), down from 3.5% a year earlier; tied for 14th lowest of 51. The rate for the 50 states and DC combined was 4.2%.
Source: U.S. Bureau of Labor Statistics · saved copyHow many people are unemployed in Tennessee?
In September 2026, 117,949 people in Tennessee were unemployed and 3,372,284 employed, out of a labor force of 3,490,233.
Source: U.S. Bureau of Labor Statistics · saved copyWhat was the unemployment rate in Tennessee in 2025?
Over 2025 the unemployment rate in Tennessee averaged 3.5% (an 11-month average: October 2025 was not collected during the federal shutdown), against 3.4% in 2024; tied for 15th lowest of 51. The lowest annual rate since 1976 was 3.3% in 2019.
Source: U.S. Bureau of Labor Statistics · saved copyWhat is the average salary in Tennessee?
Workers covered by unemployment insurance in Tennessee were paid $70,409 on average in 2025 ($1,354 a week), up 4.4% on 2024; the US average was $78,720. That is 26th highest of 51.
Source: U.S. Bureau of Labor Statistics · saved copyHow many jobs are there in Tennessee?
Employers in Tennessee had an average of 3,265,460 jobs on their payrolls in 2025 across 214,457 establishments, down 0.2% on 2024 (United States: up 0.5%).
Source: U.S. Bureau of Labor Statistics · saved copyWhat is the median wage in Tennessee?
The median annual wage across all occupations in Tennessee was $47,380 in May 2025 (mean $60,800); 11th lowest of 51. One in ten workers earned less than $28,600 and one in ten more than $103,130.
Source: U.S. Bureau of Labor Statistics · saved copyWhat is the most common job in Tennessee?
The most common occupation in Tennessee in May 2025 was laborers and freight, stock, and material movers, hand, with 105,870 workers and a median annual wage of $38,160.
Source: U.S. Bureau of Labor Statistics · saved copyWhat is the median household income in Tennessee?
Median household income in Tennessee was $72,007 in 2024, 11th lowest among the 50 states and DC (U.S.: $81,604). In 2019 it was $56,047, so it has risen 28.5% before allowing for inflation.
Source: U.S. Census Bureau · saved copyWhat is the average rent in Tennessee?
The median gross rent in Tennessee, including utilities, was $1,284 a month in 2024, up 5.8% on 2023 ($1,214); 24th lowest among the 50 states and DC (U.S.: $1,487).
Source: U.S. Census Bureau · saved copyWhat is the median home value in Tennessee?
Homeowners in Tennessee valued their homes at a median of $332,600 in 2024, up 8.2% on 2023 ($307,300); 23rd lowest among the 50 states and DC (U.S.: $360,600).
Source: U.S. Census Bureau · saved copyHow affordable are homes in Tennessee?
The median home value in Tennessee was 4.6 times the median household income in 2024 ($332,600 against $72,007); 17th highest ratio among the 50 states and DC (U.S.: 4.4).
Source: U.S. Census Bureau · saved copyIs rent affordable in Tennessee?
A household on the median income in Tennessee would spend 21.4% of its income on the median rent of $1,284 a month in 2024 (U.S.: 21.9%).
Source: U.S. Census Bureau · saved copyHow Tennessee compares with other states
Gross domestic product, 2025 (current dollars) (2025)
Tennessee ranks 16 of 51, highest first.
| Rank | Region | Gross domestic product, 2025 (current dollars) |
|---|---|---|
| 13 | Virginia | $807.9 billion |
| 14 | Michigan | $733.9 billion |
| 15 | Arizona | $592.1 billion |
| 16 | Tennessee | $586.2 billion |
| 17 | Colorado | $574.9 billion |
| 18 | Maryland | $567.0 billion |
| 19 | Indiana | $542.5 billion |
GDP per resident, 2025 (BEA GDP / Census population) (2025)
Tennessee ranks 30 of 51, highest first.
| Rank | Region | GDP per resident, 2025 (BEA GDP / Census population) |
|---|---|---|
| 27 | Pennsylvania | $80,898 |
| 28 | Oregon | $80,317 |
| 29 | Wisconsin | $80,160 |
| 30 | Tennessee | $80,137 |
| 31 | North Carolina | $80,007 |
| 32 | Rhode Island | $79,174 |
| 33 | Kansas | $77,961 |
Real GDP growth, 2025 (2025)
Tennessee ranks 21 of 51, highest first.
| Rank | Region | Real GDP growth, 2025 |
|---|---|---|
| 18 | Virginia | 2.3% |
| 19 | Oklahoma | 2.2% |
| 20 | Michigan | 2.2% |
| 21 | Tennessee | 2.1% |
| 22 | New Jersey | 2.0% |
| 23 | Nevada | 2.0% |
| 24 | Montana | 2.0% |
Real GDP growth, 2026:Q2 (annual rate) (2026:Q2)
Tennessee ranks 26 of 51, highest first.
| Rank | Region | Real GDP growth, 2026:Q2 (annual rate) |
|---|---|---|
| 23 | New Hampshire | 2.0% |
| 24 | Missouri | 1.9% |
| 25 | New Jersey | 1.7% |
| 26 | Tennessee | 1.7% |
| 27 | Iowa | 1.7% |
| 28 | Idaho | 1.5% |
| 29 | Maine | 1.4% |
Personal income per person, 2025 (2025)
Tennessee ranks 32 of 51, highest first.
| Rank | Region | Personal income per person, 2025 |
|---|---|---|
| 29 | Wisconsin | $71,219 |
| 30 | Utah | $70,323 |
| 31 | Missouri | $69,836 |
| 32 | Tennessee | $69,274 |
| 33 | Kansas | $69,149 |
| 34 | Delaware | $68,630 |
| 35 | Arizona | $68,373 |
Real personal income per person, 2024 (adjusted for local prices, 2017 dollars) (2024)
Tennessee ranks 25 of 51, highest first.
| Rank | Region | Real personal income per person, 2024 (adjusted for local prices, 2017 dollars) |
|---|---|---|
| 22 | Vermont | $58,893 |
| 23 | Oklahoma | $58,692 |
| 24 | Pennsylvania | $58,620 |
| 25 | Tennessee | $58,582 |
| 26 | Wisconsin | $58,273 |
| 27 | Texas | $58,219 |
| 28 | Missouri | $57,850 |
Median household income, 2024 (ACS) (2024)
Tennessee ranks 41 of 51, highest first.
| Rank | Region | Median household income, 2024 (ACS) |
|---|---|---|
| 38 | Michigan | $72,389 |
| 39 | South Carolina | $72,350 |
| 40 | Ohio | $72,212 |
| 41 | Tennessee | $71,997 |
| 42 | Indiana | $71,959 |
| 43 | Missouri | $71,589 |
| 44 | New Mexico | $67,816 |
Regional price parity, 2024 (US = 100) (2024)
Tennessee ranks 38 of 51, highest first.
| Rank | Region | Regional price parity, 2024 (US = 100) |
|---|---|---|
| 35 | Ohio | 92.8 |
| 36 | Wyoming | 92.7 |
| 37 | New Mexico | 92.2 |
| 38 | Tennessee | 91.9 |
| 39 | Missouri | 90.8 |
| 40 | Kentucky | 90.2 |
| 41 | Nebraska | 90.1 |
Unemployment rate, September 2026 (seasonally adjusted) (September 2026)
Tennessee ranks 37 of 51, highest first.
| Rank | Region | Unemployment rate, September 2026 (seasonally adjusted) |
|---|---|---|
| 34 | Utah | 3.5% |
| 35 | Ohio | 3.4% |
| 36 | North Carolina | 3.4% |
| 37 | Tennessee | 3.4% |
| 38 | Indiana | 3.4% |
| 39 | Georgia | 3.3% |
| 40 | Mississippi | 3.3% |
Unemployment rate, 2025 annual average (2025)
Tennessee ranks 36 of 51, highest first.
| Rank | Region | Unemployment rate, 2025 annual average |
|---|---|---|
| 33 | Indiana | 3.7% |
| 34 | Idaho | 3.7% |
| 35 | Utah | 3.6% |
| 36 | Tennessee | 3.5% |
| 37 | Iowa | 3.5% |
| 38 | Georgia | 3.4% |
| 39 | Virginia | 3.4% |
Labor force participation rate, September 2026 (September 2026)
Tennessee ranks 38 of 51, highest first.
| Rank | Region | Labor force participation rate, September 2026 |
|---|---|---|
| 35 | Georgia | 61.1% |
| 36 | Wyoming | 60.2% |
| 37 | Arizona | 59.7% |
| 38 | Tennessee | 59.3% |
| 39 | Arkansas | 59.1% |
| 40 | South Carolina | 58.8% |
| 41 | Michigan | 58.5% |
Average annual pay, 2025 (QCEW) (2025)
Tennessee ranks 26 of 51, highest first.
| Rank | Region | Average annual pay, 2025 (QCEW) |
|---|---|---|
| 23 | Rhode Island | $71,123 |
| 24 | Michigan | $70,809 |
| 25 | Hawaii | $70,649 |
| 26 | Tennessee | $70,409 |
| 27 | Nevada | $69,776 |
| 28 | Utah | $69,316 |
| 29 | Ohio | $68,298 |
Median annual wage, all occupations, May 2025 (OEWS) (May 2025)
Tennessee ranks 41 of 51, highest first.
| Rank | Region | Median annual wage, all occupations, May 2025 (OEWS) |
|---|---|---|
| 38 | Indiana | $47,860 |
| 39 | Missouri | $47,800 |
| 40 | Nevada | $47,660 |
| 41 | Tennessee | $47,380 |
| 42 | New Mexico | $47,210 |
| 43 | South Dakota | $47,080 |
| 44 | Kentucky | $46,920 |
Median household income (2024)
Tennessee ranks 41 of 51, highest first. Census Bureau SAIPE model estimates
| Rank | Region | Median household income |
|---|---|---|
| 38 | South Carolina | $72,507 |
| 39 | Michigan | $72,336 |
| 40 | Ohio | $72,259 |
| 41 | Tennessee | $72,007 |
| 42 | Indiana | $71,958 |
| 43 | Missouri | $71,583 |
| 44 | New Mexico | $67,838 |
Median gross rent (monthly) (2024)
Tennessee ranks 28 of 51, highest first. Renter-occupied units paying cash rent
| Rank | Region | Median gross rent (monthly) |
|---|---|---|
| 25 | Illinois | $1,322 |
| 26 | Vermont | $1,319 |
| 27 | Minnesota | $1,291 |
| 28 | Tennessee | $1,284 |
| 29 | South Carolina | $1,272 |
| 30 | Pennsylvania | $1,252 |
| 31 | Maine | $1,210 |
Median value of owner-occupied homes (2024)
Tennessee ranks 29 of 51, highest first. Owner-reported value
| Rank | Region | Median value of owner-occupied homes |
|---|---|---|
| 26 | Maine | $341,900 |
| 27 | Wyoming | $339,500 |
| 28 | North Carolina | $333,000 |
| 29 | Tennessee | $332,600 |
| 30 | Texas | $313,200 |
| 31 | South Carolina | $299,500 |
| 32 | Wisconsin | $294,700 |
More on Tennessee: overview · health · education and schools · poverty and living standards · government budget · the United States
Sources
- U.S. Census Bureau: Household Income in States and Metropolitan Areas: 2024 (ACSBR-025), Appendix Table 1: median household income and Gini index by state, 2023 and 2024 American Community Survey, read 23 October 2026 · saved copy (SHA-256 5de1b0d5ec46…)
- U.S. Bureau of Economic Analysis: SASUMMARY: State annual summary statistics: personal income, GDP, consumer spending, price indexes, and employment (updated 30 September 2026), read 23 October 2026 · saved copy (SHA-256 a3757d207c05…)
- U.S. Bureau of Economic Analysis: SAGDP: Annual GDP by state, 1997-2025 (table SAGDP2, GDP in current dollars by industry), read 23 October 2026 · saved copy (SHA-256 3d3c5bc7bd24…)
- U.S. Bureau of Economic Analysis: SQGDP: Quarterly GDP by state, 2005-2026 Q2 (table SQGDP11, percent change in real GDP at annual rate), read 23 October 2026 · saved copy (SHA-256 1649260cdceb…)
- U.S. Bureau of Labor Statistics: Local Area Unemployment Statistics: employment status of the civilian noninstitutional population, states, monthly, seasonally adjusted, read 23 October 2026 · saved copy (SHA-256 7bb6f18d4145…)
- U.S. Bureau of Labor Statistics: Local Area Unemployment Statistics: employment status of the civilian noninstitutional population, states, annual averages 1976-2025, read 23 October 2026 · saved copy (SHA-256 262aba7d00df…)
- U.S. Bureau of Labor Statistics: Occupational Employment and Wage Statistics, May 2025 state estimates (state_M2025_dl.xlsx), read 23 October 2026 · saved copy (SHA-256 74d5be0e1df8…)
- U.S. Bureau of Labor Statistics: Quarterly Census of Employment and Wages, 2025 annual averages, all industries (open data CSV slice), read 23 October 2026 · saved copy (SHA-256 5a5f89142aae…)
- U.S. Census Bureau: American Community Survey 2024 1-year estimates, table-based summary file: Median gross rent (B25064), read 23 October 2026 · saved copy (SHA-256 8624f9775add…)
- U.S. Census Bureau: American Community Survey 2024 1-year estimates, table-based summary file: Median value of owner-occupied homes (B25077), read 23 October 2026 · saved copy (SHA-256 27120d5d8a5f…)
- U.S. Census Bureau: Small Area Income and Poverty Estimates (SAIPE): 2024 poverty and median household income, states and counties, read 23 October 2026 · saved copy (SHA-256 cb52c47d75c1…)
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