Tennessee

Name: Tennessee Economic Profile
Creator: ExecutivePulse

FIPS 47 · Population 7,066,383

6 Sources Updated June 22, 2026

7.1M ▲

Population

334,922,499 U.S.

$69,595 ▲

Median Income

$80,734 national

$561.2B

GDP

3.4%

Unemployment

4% national

Community Data / United States / Tennessee

County Map Demographics Economy Industry Concentration Housing Workforce Counties AI Insights

County Map

Click a county to view its economic profile

Demographics & Population

Census Bureau American Community Survey 2024 · 5-Year Estimates

Household Income

Source: U.S. Census Bureau · American Community Survey 2024 5-Year Estimates

Median Household

$69,595

Per Capita

$39,437

Mean Household

$96,820

Poverty Rate ⓘ

13.8% ▼

Age & Race / Ethnicity

Source: Census Bureau ACS 2024 · Tables B01001, B02001, B03003

Cohorts

Under 18 · 22.2%

18-34 · 22.7%

35-54 · 25.2%

55-64 · 12.8%

65+ · 17.1%

Race & Ethnicity

White72.4%

Black or African American15.6%

Asian1.9%

Hispanic or Latino(any race)7.4%

Hispanic or Latino is an ethnic category and overlaps with the race categories above.

Educational Attainment

Source: Census Bureau ACS 2024 · Table B15003 · Population 25+

90%

High School+

National: 89.6%

▲ +0.4 pts

31.1%

Bachelor's+

National: 35.7%

▼ 4.6 pts

11.7%

Graduate+

National: 14.1%

▼ 2.4 pts

Employment Overview

Source: U.S. Census Bureau · American Community Survey 2024 5-Year Estimates

7,066,383

Population

3,546,912

Labor Force

Employed

3,362,616

Unemployment Rate BLS LAUS 2024 annual

3.4%

Mean Commute 1 min below national avg

25.7 min

Work From Home vs 15.1% national

12.9%

Tennessee's median household income sits 14% below the national median. At 13.8%, its poverty rate runs 1.3 pts above the ~12.5% national level, relevant for federal funding eligibility narratives. Bachelor's-or-higher attainment of 31.1% trails the national average of 35.7%.

Source: U.S. Census Bureau American Community Survey 2024 5-Year Estimates (released December 2025). Figures reflect the most recent Census release, older news reports may cite prior vintages.

Key Takeaways

Broadly in line with U.S. norms across income, poverty, education, and age.

Economy & Industry

Bureau of Labor Statistics QCEW · Bureau of Economic Analysis

$561.2B

Gross Domestic Product · 2024

Source: Bureau of Economic Analysis · SAGDP1 Regional GDP

Top Industries by Employment

Source: Bureau of Labor Statistics · Quarterly Census of Employment & Wages 2025 Annual

Industry	Employment	% of Top Sectors	Avg Wage
1Health Care and Social Assistance	427,275	17.4%	$70,686
2Manufacturing	354,240	14.4%	$78,785
3Retail Trade	343,832	14.0%	$42,490
4Accommodation and Food Services	315,430	12.8%	$28,340
5Administrative and Support and Waste Management	211,709	8.6%	$55,452
6Transportation and Warehousing	203,348	8.3%	$71,843
7Professional, Scientific, and Technical Services	177,695	7.2%	$109,916
8Construction	165,183	6.7%	$82,958
9Wholesale Trade	131,866	5.4%	$100,222
10Finance and Insurance	128,107	5.2%	$117,008

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Key Takeaways

Largest sector: Health Care and Social Assistance employs 427,275 workers (17.4% of the tracked sectors), at an average wage of $70,686.
Economic scale: State GDP of $561.2B (2024).

Source: BLS QCEW + BEA Regional GDP.

Industry Concentration

Location Quotient measures regional specialization vs. national average. LQ > 1.0 = concentrated.

Concentrated Industries

Source: BLS QCEW · 3-digit NAICS sub-sector · Location Quotient vs. national employment share
Same source as the Top Industries table above, sub-sector view surfaces specialization the supersector view masks.

Funds, Trusts, and Other Financial Vehicles

2.74x

1,936

Couriers and Messengers

2.51x

58,961

Electrical Equipment, Appliance Manufacturing

2.48x

22,454

Transportation Equipment Manufacturing

1.90x

69,014

Truck Transportation

1.77x

54,602

Paper Manufacturing

1.75x

12,828

Apparel Manufacturing

1.69x

2,794

Nonmetallic Mineral Product Manufacturing

1.67x

14,435

Plastics and Rubber Products Manufacturing

1.62x

23,768

Water Transportation

1.59x

2,273

Attraction Opportunities - Below-Average Industries

LQ < 0.5, below-average employment, potential attraction targets. Source: BLS QCEW · 3-digit NAICS sub-sector

0.02x

Oil and Gas Extraction

56 employed

0.06x

Support Activities for Mining

316 employed

0.08x

Fishing, Hunting and Trapping

13 employed

0.13x

Web Search Portals, Libraries, and Archives

468 employed

0.16x

Support Activities for Agriculture and Forestry

1,245 employed

0.19x

Wholesale Trade Agents and Brokers

1,803 employed

0.26x

Pipeline Transportation

305 employed

0.31x

Monetary Authorities - Central Bank

135 employed

Key Takeaways

Top specialization: Funds, Trusts, and Other Financial Vehicles concentrates at 2.74x the national norm.
Cluster depth: 10 sub-sectors register LQ ≥ 1.5, suggesting an interconnected industrial base across the state.
Attraction whitespace: 8 sub-sectors register LQ < 0.5, candidates for diversification or recruitment.

Source: BLS QCEW sub-sector Location Quotients.

Industry Employment Composition

Tennessee's Top Sectors by Workforce Share

Each rectangle's area is proportional to that sector's share of the top private supersectors. Hover for exact employment.

Source: Bureau of Labor Statistics QCEW 2025 Annual · Private sector, NAICS supersectors

Housing & Affordability

Census ACS · HUD Fair Market Rents FY2026

Housing Overview

Source: Census Bureau ACS 2024 5-Year Estimates · Tables B25001, B25077, B25064

$286,700 ▲

Median Home Value vs 2019

$1,189 ▲

Rent/Mo

66.9% ▲

Owner-Occ

10.2% ▼

Vacancy

4.1x

Home Value to Income Ratio

vs. ~4.1x national average

HUD Fair Market Rents (Statewide)

Renter-household-weighted average across 95 Fair Market Rent areas · Source: HUD · Fair Market Rents FY2026

Studio

$1,125/mo$638 to $1,507

1 Bedroom

$1,183/mo$705 to $1,578

2 Bedroom

$1,363/mo$925 to $1,730

3 Bedroom

$1,759/mo$1,109 to $2,211

4 Bedroom

$2,051/mo$1,225 to $2,696

30% of monthly median household income (~$1,740/mo) · rents above this line are typically considered cost-burdened.

Key Takeaways

In line with national: Home value to income ratio of 4.1x sits near the ~4.1x national average; affordability is neither a clear advantage nor a recruitment friction.
Elevated vacancy: 10.2% vacancy rate; potential redevelopment opportunity.

Source: Census ACS housing tables.

Workforce Pipeline

Labor force readiness, commuting, and workforce composition

Labor Market Overview

Source: Census ACS 2024 · Tables B01001, B23025, B08303, B08301

4,293,467 ▲

Working Age (18-64) vs 2019

▲ vs 2019

Mean Commute

25.7 min

Work From Home

12.9%

Education & Talent Pipeline

Source: Census ACS 2024 · Table B15003 · College Scorecard

Bachelor's+

31.1%

HS Diploma+

90%

Top Institutions

Degrees, certificates, and other credentials awarded last academic year (College Scorecard).

The University of Tennessee-Knoxville 8,049/yr

Vanderbilt University 5,142/yr

University of Memphis 4,862/yr

Middle Tennessee State University 4,677/yr

East Tennessee State University 3,604/yr

The University of Tennessee-Chattanooga 2,551/yr

Aging Workforce

Source: Census Bureau ACS · Derived from age & employment tables

21.1%

55-64 of working-age population (18-64)

Elevated retirement risk, above the 20% threshold. Succession planning recommended.

Workforce by Occupation

Source: Census ACS 2024 · Table C24010 · Civilian employed population 16+

Management / Professional

39.3%

Service

15.3%

Sales & Office

20.3%

Construction / Maint.

8.7%

Production / Transport

16.4%

Bars scaled 2× for visual differentiation; percentage labels show actual share of 3,362,616 employed workers.

Key Takeaways

Source: ACS workforce data.

County Profiles

95 counties in Tennessee

AI Insights

AI-assisted analysis, drawn from 6 federal data sources

Sample AI Insight

Tennessee shows emerging potential for funds, trusts, and other financial vehicles attraction, with a 2.74x concentration and 1,936 jobs in this sub-sector.

Cluster depth across funds, trusts, and other financial vehicles, couriers and messengers, and electrical equipment, appliance manufacturing creates supply-chain attraction leverage, a structural advantage for industrial recruitment.

Industry Shift Analysis

Manufacturing Automation Risk

High

Healthcare Growth Forecast

+4.2% CAGR

Remote Work Migration

67/100

Prospect Match Scores

Advanced Manufacturing

92/100

Life Sciences

84/100

Data Centers

71/100

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Data Sources

Updated from official federal government data.

Census ACS 5-Year2024

BLS QCEW2025

BEA Regional GDP2024

Census CBP2024

HUD Fair Market RentsFY2026

USAspending.govFY2026

Frequently Asked Questions

Key economic and demographic figures for Tennessee, from federal data sources.

What is the population of Tennessee?

7,066,383 (U.S. Census Bureau, ACS 5-Year Estimates).

What is the median household income in Tennessee?

$69,595 (U.S. Census Bureau, ACS 5-Year Estimates).

What is the unemployment rate in Tennessee?

3.4% (2024 annual average, U.S. Bureau of Labor Statistics, LAUS).

What is the GDP of Tennessee?

$561.2B (BEA SAGDP (state GDP)).

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