Knox County sees nearly four percent increase in average annual pay
The pay increase was more than the national inflation average, which was around three percent for the same time period.
It’s common to hear conversations about inflation and the increasing cost to live in Knoxville/ Knox County. But, data collected by the U.S. Bureau of Labor Statistics (BLS) tells a different story.
Recent reports show the 2024 average annual pay for Knox County is now $64,996. This is a $2,441 or nearly four percent increase from the 2023 estimate of $62,555.
In some respects, this is an encouraging figure. After all, the BLS reported an inflation rate of about three percent nationwide from January 2024 to January 2025. Meaning, Knox County pay increased more than the rate of inflation.
From 2014 through 2019, Knox County’s average annual pay has been increasing by an average of 2.4 percent, except in 2020, when it increased by 7.6 percent. The BLS believes the reason for the pandemic increase was a worker shortage, which in turn drove up pay to be more competitive.
Knox County’s 3.9 percent average annual pay growth from 2023 to 2024 ranks fifth highest among the ten peer counties.
- Durham County (Durham, NC) grew 7.6% from $91,850 to $98,837
- Davidson County (Nashville) grew 5.6% from $78,615 to $83,005
- Buncombe County (Asheville, NC) grew 5.0% from $56,015 to $58,790
- Greenville County (Greenville, SC) grew 4.6% from $60,441 to $63,213
- Knox County (Knoxville, TN) grew 3.9% from $62,555 to $64,996
- Wake County (Raleigh, NC) grew 3.7% from $74,085 to $76,806
- Madison County (Huntsville, AL) grew 3.5% from $74,466 to $77,092
- Fayette County (Lexington, KY) grew 3.0% from $62,553 to $64,437
- Shelby County (Memphis) grew 1.8% from $70,165 to $71,429
- Hamilton County (Chattanooga) grew 1.6% from $64,959 to $65,972.
Learn more from the Knoxville Chamber ECO Report.
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