Economists Salary
In Tennessee, economists earn $117,650 at the median, or about $56.56 an hour. The range runs from $84K at the entry level to $163K for experienced workers. Cost of living is below average (RPP 89.78), which stretches that salary to about $131,043 in buying power. Rent on a 2-bedroom averages $1,215/month, or 15.4% of estimated take-home pay.
Statewide average. Salary and cost of living vary significantly across Tennessee. Jump to a metro for precise data:
So what does $118K get you in Tennessee?
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What this looks like in Tennessee
Economists pay in Tennessee tracks closely to the national median, $118K locally vs. $125K nationwide, a 6% difference. Housing is manageable: a 2-bedroom at the HUD median costs $1,215/month, 16% of take-home, well inside the 30% guideline. Regional Price Parity sits at 89.78 (national = 100), meaning everyday costs run about 10% cheaper here. Your dollar stretches further than the headline salary suggests. Use the affordability calculator above to model your specific situation.
Compensation breakdown
Annual earnings by percentile, Tennessee
Entry-level economists (10th percentile) start around $84K. Mid-career wages sit at $118K. Top earners bring in $163K or more, a $79K spread from bottom to top.
Economists salary by metro in Tennessee
1 metro area with BLS data, ranked by median pay
| Metro area | Median salary | vs. state | Employment |
|---|---|---|---|
| Nashville-Davidson--Murfreesboro--Franklin | $117K | -1% | 40 |
Compare to other states
Track economists salary changes
BLS updates this data quarterly. We'll email you when Tennessee numbers change.
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Frequently asked questions
Can a economist afford a 2BR apartment alone in Tennessee?
Yes — at the median salary of $118K, rent takes 16% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $1,215/month. That stays under the 30% guideline most financial planners use.
What’s the entry-level salary for economists in Tennessee?
The 10th-percentile wage — what new economists typically earn — is $84K/year. Take-home on that works out to about $5,017/month. At HUD’s $1,215/month FMR, rent would take 24% of that take-home — manageable on an entry-level income.
Is economist a high-paying job in Tennessee?
Pay here is roughly in line with the national average — $118K locally vs. $125K nationally, a 6% difference.
How does Tennessee compare to the national average for economists?
Tennessee pays $118K median vs. the U.S. average of $125K — that’s -6%. After adjusting for local cost of living (RPP 89.78), the purchasing-power equivalent is $131K — still ahead of the national median.
How much do economists make in Tennessee?
The median is $117,650 a year, that works out to about $57 an hour. But the range is wide: entry-level workers start around $83,610, and experienced economists can clear $162,670. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $118K enough to live in Tennessee?
On that salary, you'd take home roughly $7,596/month after taxes. A 2-bedroom here rents for about $1,215/month, which eats 16% of your paycheck. That's under the 30% guideline most financial planners use, so the numbers work.
How far does a economists salary go in Tennessee?
Tennessee has a Regional Price Parity of 89.78 (100 is the national average). That's below average, your money stretches further here than the raw salary number suggests. After cost-of-living adjustment, the median economists salary is worth about $131,043 in national-average purchasing power.
Where do economists get paid the most?
The table above ranks every state by median pay for this role. Keep in mind that the highest-paying states tend to have the highest costs of living, so the top salary doesn't always mean the most money in your pocket.