Tennessee's affordability crisis: More than 1 in 3 households struggle

Why it matters: Consumers nationwide have been dealing with rising prices — but those in some areas are having a harder time making ends meet than others.

By the numbers: About 37% of Tennessee adults said they were in households that found it somewhat or very difficult to cover everyday expenses.

• That figure is in line with the national average.

Between the lines: The data comes from the U.S. Census Bureau's Household Pulse Survey, an online survey meant to collect key socioeconomic data in near real-time.

The big picture: Other analyses suggest the situation has become even more dire over the course of years. A 2024 report from the United Way of Tennessee found nearly half of households in the state lack the money necessary to cover the bills.

• That amounts to 1.2 million households statewide that can't cover the cost of food, child care, transportation and utilities.

Threat level: While Tennessee's poverty rate declined between 2021 and 2022, the United Way report found a growing share of families who made more but still struggled to afford their basic needs.

Zoom in: The report found a single Tennessee resident needed $26,856 to get by as of 2022, which is well above what's considered the poverty line.

• That figure jumped to $75,612 for a family of four.

Zoom out: The Census data shows financial struggles are particularly pronounced in the South and Southeast.

• Mississippi (49.5%), Alabama (45.5%) and West Virginia (43.5%) have the highest percentage of adults who said they're having trouble affording their typical expenses.

What we're watching: A new report out last week suggested that the inflation crisis might be over. The Federal Reserve is looking to lower interest rates as soon as this week and take some pressure off the economy.

Go deeper: Read Axios' national story.