Farragut, Tennessee Income Statistics
Farragut Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
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A
Farragut Above average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Farragut | Tennessee Avg | US Average |
|---|---|---|---|
| Median Household Income | $137,090 | $69,901 | $80,455 |
| Median Personal Income | $92,195 | $53,263 | $60,758 |
| Average Yearly Income Growth | 3.8% | 5.2% | 4.8% |
| Six-Figure Earners | 27.9% | 10.4% | 13.9% |
| $200k+ Households | 30.2% | 9.0% | 13.2% |
The median household income in Farragut is about 96% higher than in Tennessee. Income has been growing slower in Farragut (3.8%/yr) than in Tennessee (5.2%/yr).
About 28% of adults in Farragut earn six figures ($100,000 or more) a year, higher than the Tennessee average of 10%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Farragut, Tennessee grew by 41.5% from 2009 to 2024, reaching $137,090 in 2024. That's an average of about 3.8% per year.
Income Inequality and the Gender Pay Gap in Farragut
| Metric | Farragut | Tennessee Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.529 | 0.542 | 0.552 |
| Male Median Income | $117,944 | $61,993 | $69,667 |
| Female Median Income | $67,145 | $50,108 | $56,850 |
| Gender Pay Gap | 43.1% | 19.2% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Farragut, it is 0.529, lower than Tennessee's 0.542, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 76% more than women's income in Farragut, Tennessee. Over a 35-year career, a 76% wage gap accumulates to roughly $1,777,965 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Farragut, Tennessee has narrowed from about 55% to 43% in 2024. Over that period the gap was widest at 56% in 2011, and was narrowest at 35% in 2022. In dollar terms, the gap has narrowed by $1,626 since 2009.
Employment
| Metric | Farragut | Tennessee Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.4% | 4.6% | 5.2% |
| Working from Home | 23.8% | 12.9% | 15.0% |
| Commute time (minutes) | 21 | 22 | 22 |
Approximately 283 people are unemployed in Farragut, Tennessee.
The average commute time in Farragut is 21 minutes, shorter than the 22 minutes in Tennessee.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Farragut, Tennessee has fallen from 4.1% to 2.4% in 2024. Over that period the rate peaked at 6.3% in 2013 and fell as low as 1.8% in 2021.
Farragut, TN Wealth Compared With Nearby Cities
How Farragut, TN compares with the 1 cities closest to it.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Farragut, TN | 24,078 | $137,090 #1/2 | 3.8%/yr #2/2 | 2.4% #1/2 | 0.529 #1/2 |
| Oak Ridge, TN | 30,080 | $73,381 | 5.4%/yr | 3.9% | 0.532 |
Conclusion
Considering all these factors, Farragut, Tennessee has an overall wealth index grade of A, making it far better than Tennessee, and notably better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Farragut, Tennessee.
How Rich Is Farragut, Tennessee?
Farragut has a wealth index grade of A. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an A grade means residents are much better off than the U.S. average. The median household income is $137,090, about 96% higher than the Tennessee average of $69,901.
Are incomes growing in Farragut, Tennessee?
Between 2009 and 2024, the median household income in Farragut, Tennessee rose 41%, from $96,894 to $137,090. Over the same years, income here lagged behind Tennessee as a whole: +41% against +63%.
What was the median household income in Farragut in 2023?
In 2023, the median household income in Farragut, Tennessee was $134,785, up 6% from $127,394 in 2022. The Tennessee median that year was $67,483.
What was the median household income in Farragut in 2020?
In 2020, the median household income in Farragut, Tennessee was $105,996. By 2024 it had risen 29% to $137,090.
Do many residents of Farragut, Tennessee earn over $100,000?
Yes. 28% of adults in Farragut, Tennessee earn $100,000 or more a year (about 1 in 4), against 10% (about 1 in 10) in Tennessee. 30% of households have a combined income of $200,000 or more, compared with 9% in Tennessee.
How strong is the job market in Farragut, Tennessee?
Unemployment in Farragut, Tennessee is only 2.4%, well below the Tennessee rate of 4.6%, a sign of a tight labor market where employers compete for workers.
What is the Gini coefficient in Farragut, Tennessee?
The Gini coefficient in Farragut is 0.529. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Farragut, Tennessee?
Since 2009, the income gap between men and women in Farragut, Tennessee has narrowed from about 55% to 43% in 2024. Over that period the gap was widest at 56% in 2011, and was narrowest at 35% in 2022. In dollar terms, the gap has narrowed by $1,626 since 2009.
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