Salary & Cost of Living in Morristown, TN
Morristown, TN: $43,141 median salary, cost of living index 83.6, $7.25/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$43,141
$21/hr
Cost of Living
83.6
US avg = 100
Minimum Wage
$7.25
per hour
Unemployment
3.6%
rate
Morristown, TN Overview
Population
30,133
Median Salary
$43,141
Average Salary
$48,318
Avg Commute
17 min
Median Home Price
$262,000
Median Rent
$1,063/mo
Job Growth
+2.9%
Sales Tax
7%
Morristown is located in Tennessee with a population of 30,133. The median household salary is $43,141 per year ($21/hour), which is $16,243 below the national median of $59,384. The average commute time is 17 minutes, and the city has a job growth rate of +2.9%.
Morristown Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Morristown, TN, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$36,702
$3,058.52/month · $1,411.63/biweekly · Effective Rate: 14.9%
Gross Pay
$43,141
Federal Tax
-$3,138
State Tax
$0
Local Tax
$0
FICA
-$3,300
Net Pay
$36,702
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $3,595.08 | $43,141.00 |
| Federal Income Tax | -$261.54 | -$3,138.42 |
| Tennessee State Tax (0%) | $0.00 | $0.00 |
| Social Security (6.2%) | -$222.90 | -$2,674.74 |
| Medicare (1.45%) | -$52.13 | -$625.54 |
| Net Take-Home Pay | $3,058.52 | $36,702.29 |
Salary Comparison: Morristown vs Other Cities
See how Morristown's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Morristown, TN | $43,141 | 83.6 | $51,604 |
| National Average | $59,384 | 100 | $59,384 |
| Marrero, LA | $43,145 | 89.5 | $48,207 |
| Fairborn, OH | $43,147 | 88.5 | $48,754 |
| Marion, OH | $43,150 | 84.8 | $50,884 |
| Aventura, FL | $43,156 | 99.7 | $43,286 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Morristown
Morristown's cost of living index is 83.6 (national average = 100). Living in Morristown is 16.400000000000006% less expensive than the national average.
Median Home Price
$262,000
Median Monthly Rent
$1,063
Annual Rent Cost
$12,756
Your Salary's Purchasing Power
Your $36,702 annual take-home pay in Morristown has the purchasing power of approximately $43,902 in an average-cost US area. Your $43,141 salary stretches further here than in most US cities.
Top Industries in Morristown
Morristown's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $43,141.
Salary Tips for Morristown Workers
- Your salary goes further here. Morristown has a cost of living 16.400000000000006% below the national average. A salary of $43,141 here has the purchasing power of about $51,604 in an average-cost area.
- No state income tax advantage. Tennessee has no state income tax, which means more of your paycheck stays in your pocket. Invest the savings in a Roth IRA or 401(k) for long-term growth.
- Research top industries. Morristown's top industries include Healthcare, Music Industry, Automotive. Targeting roles in these sectors can help you earn above the $43,141 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
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Frequently Asked Questions
What is the median salary in Morristown, TN?
The median salary in Morristown, TN is $43,141 per year, or $21 per hour. The average salary is $48,318. This is $16,243 below the national median of $59,384.
What is the cost of living in Morristown, TN?
Morristown's cost of living index is 83.6 (national average = 100), meaning it is 16.400000000000006% less expensive compared to the national average. The median home price is $262,000 and the median monthly rent is $1,063.
What are the best industries in Morristown?
The top industries in Morristown, TN include Healthcare, Music Industry, Automotive. The city has a job growth rate of 2.9% and an unemployment rate of 3.6%. Workers in these industries often earn above the city's median salary of $43,141.
How does Morristown's salary compare to other cities?
Morristown's median salary of $43,141 is 27.4% below the national median of $59,384. However, when adjusted for cost of living (index: 83.6), the real purchasing power is approximately $51,604.
What is the minimum wage in Morristown, TN?
The minimum wage in Morristown, TN is $7.25 per hour. This equals approximately $15,080 per year for a full-time worker (40 hours/week). This matches the federal minimum wage of $7.25/hour.