Tennessee

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Overview

Between the 2022 and 2023 filing years, Tennessee saw a net gain of 23,884 tax-filing households and a net gain of 42,740 individuals. Against a population of about 7,126,489, that is a net inflow of about 6 per 1,000 residents. On net, the area gained $2.7B in associated adjusted gross income (AGI, nominal dollars).

• Net income (AGI): +$2.7B nominal dollars
• Net households: +23,884 tax returns
• Net people: +42,740 exemptions
• +6.0 net people per 1,000 residents (population 7,126,489)

Income (AGI) in and out:

• Moved in: $9.1B
• Moved out: $6.4B
• Net: +$2.7B (nominal)

Top Origin States

• Florida: 12,505 households, $945.3M AGI
• California: 10,246 households, $1.1B AGI
• Georgia: 8,430 households, $618M AGI
• Texas: 6,952 households, $606.3M AGI
• Mississippi: 5,641 households, $271.2M AGI
• Kentucky: 5,634 households, $313.4M AGI
• Illinois: 5,141 households, $531.8M AGI
• North Carolina: 5,058 households, $365.6M AGI
• Alabama: 4,554 households, $292.2M AGI
• Virginia: 4,371 households, $338.9M AGI

Top Destination States

• Florida: 9,475 households, $816M AGI
• Georgia: 7,832 households, $523M AGI
• Texas: 6,776 households, $522.9M AGI
• Mississippi: 5,685 households, $301.6M AGI
• Kentucky: 5,516 households, $294.5M AGI
• Alabama: 4,905 households, $324.1M AGI
• North Carolina: 4,796 households, $360M AGI
• California: 3,810 households, $327.4M AGI
• Virginia: 3,637 households, $236M AGI
• Illinois: 2,901 households, $185.6M AGI

Churn by State (Two-Way Exchanges)

The biggest two-way exchanges of filing households, 2022–2023. Moved in and moved out are gross one-way counts; net is the difference.

• Florida: 12,505 in, 9,475 out, +3,030 net, +$129.3M AGI
• Georgia: 8,430 in, 7,832 out, +598 net, +$95M AGI
• California: 10,246 in, 3,810 out, +6,436 net, +$786.7M AGI
• Texas: 6,952 in, 6,776 out, +176 net, +$83.4M AGI
• Mississippi: 5,641 in, 5,685 out, -44 net, -$30.3M AGI
• Kentucky: 5,634 in, 5,516 out, +118 net, +$18.9M AGI
• North Carolina: 5,058 in, 4,796 out, +262 net, +$5.6M AGI
• Alabama: 4,554 in, 4,905 out, -351 net, -$32M AGI
• Illinois: 5,141 in, 2,901 out, +2,240 net, +$346.1M AGI
• Virginia: 4,371 in, 3,637 out, +734 net, +$102.9M AGI
• New York: 3,817 in, 2,279 out, +1,538 net, +$161.7M AGI
• Ohio: 3,365 in, 2,672 out, +693 net, +$154M AGI

Net Migration by Year

Net 2012–2023: +$23.1B (+414,347 people)

• 2012: +$627.6M AGI, +19,585 people
• 2013: +$355M AGI, +14,818 people
• 2014: +$864.5M AGI, +16,550 people
• 2015: +$580.3M AGI, +13,829 people
• 2016: +$1.3B AGI, +26,158 people
• 2017: +$1.8B AGI, +45,007 people
• 2018: +$1.6B AGI, +32,778 people
• 2019: +$1.9B AGI, +34,155 people
• 2020: +$2.6B AGI, +45,464 people
• 2021: +$4.1B AGI, +62,304 people
• 2022: +$4.7B AGI, +60,959 people
• 2023: +$2.7B AGI, +42,740 people

Migration in Context

In the 2022–2023 filing year, about 42,740 more people moved into Tennessee than left (counting tax filers and their dependents) — a net gain of about $2.7B in income (nominal) — in a state of 7,153,029 people.

• Population: 7,153,029 (Census 2023 estimate)
• Net migration rate: +6.0 net people per 1,000 residents
• Net income per resident: +$383 nominal dollars (≈ +$2.7B total across 7,153,029 residents)

Components of Population Change (2023 Census)

• Births: +83,201
• Deaths: 81,142
• Net domestic migration: +60,397
• Net international migration: +26,129
• Total change: +89,704

Income & Cost of Living

Prices around Tennessee run about 8% below the national average. In plain terms: $100 spent here buys about what $109 buys in the average American community.

• Income per person: $63,479 (BEA 2023, nominal), 9% below the U.S. average
• Price level: 92.1 (100 = U.S. average prices), everyday costs about 7.9% lower than average
• What that income buys: $68,928 local income restated at U.S.-average prices, 2% below the U.S. average

Price Parity by Category

Index where 100 = U.S. average for that category.

• Housing & rents: 77.9
• Goods: 94.3
• Utilities: 76.4
• Other services: 97.1

Demographics

• Median age: 38.9 years
• Median household income: $67,097 per household (15% below the U.S. median)
• College degree: 30% of adults 25+ with a bachelor's or higher
• Poverty rate: 13.8% of residents below the poverty line
• Average commute: 26 minutes mean travel time to work
• Broadband at home: 87% of households with any broadband

Race and ethnicity (share of residents):

• White: 71%
• Hispanic: 7%
• Black: 16%
• Asian: 2%