Special Report

The States With the Highest Minimum Wage

Source: Kruck20 / iStock via Getty Images

45. Tennessee
> Minimum hourly wage: $7.25 (Federal minimum wage)
> Est. hourly wage needed for a family of four: $33.17 — the lowest
> Unemployment rate, Aug 2022: 3.5% — 24th highest
> Total population: 6,975,218 — 16th highest

Source: DenisTangneyJr / E+ via Getty Images

44. Wyoming
> Minimum hourly wage: $7.25 (Federal minimum wage)
> Est. hourly wage needed for a family of four: $33.88 — 3rd lowest
> Unemployment rate, Aug 2022: 3.1% — 18th lowest
> Total population: 578,803 — the lowest

Source: vkbhat / E+ via Getty Images

43. Idaho
> Minimum hourly wage: $7.25
> Est. hourly wage needed for a family of four: $36.99 — 25th lowest
> Unemployment rate, Aug 2022: 2.7% — 9th lowest
> Total population: 1,900,923 — 13th lowest

Source: Sean Pavone / iStock via Getty Images

42. Indiana
> Minimum hourly wage: $7.25
> Est. hourly wage needed for a family of four: $34.73 — 5th lowest
> Unemployment rate, Aug 2022: 3.1% — 18th lowest
> Total population: 6,805,985 — 17th highest

Source: dangarneau / iStock via Getty Images

41. Iowa
> Minimum hourly wage: $7.25
> Est. hourly wage needed for a family of four: $37.87 — 17th highest
> Unemployment rate, Aug 2022: 2.9% — 13th lowest
> Total population: 3,193,079 — 20th lowest

Sponsored: Tips for Investing

A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.