Franklin County, Tennessee Income Statistics
Franklin County Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of a county's residents based on income levels, employment rates, and income inequality metrics.
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C
Franklin County Below averageWealthier than 72% of counties in Tennessee
Source: Map AI Methodology
Income Statistics Overview
| Metric | Franklin County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Household Income | $62,739 | $69,901 | $80,455 |
| Median Personal Income | $47,073 | $53,263 | $60,758 |
| Average Yearly Income Growth | 4.4% | 5.2% | 4.8% |
| Six-Figure Earners | 7.3% | 10.4% | 13.9% |
| $200k+ Households | 5.5% | 9.0% | 13.2% |
The median household income in Franklin County is about 10% lower than in Tennessee. Income has been growing slower in Franklin County (4.4%/yr) than in Tennessee (5.2%/yr).
About 7% of adults in Franklin County earn six figures ($100,000 or more) a year, lower than the Tennessee average of 10%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Franklin County, Tennessee grew by 51.8% from 2009 to 2024, reaching $62,739 in 2024. That's an average of about 4.4% per year.
Income Inequality and the Gender Pay Gap in Franklin County
| Metric | Franklin County | Tennessee Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.529 | 0.542 | 0.552 |
| Male Median Income | $60,440 | $61,993 | $69,667 |
| Female Median Income | $42,149 | $50,108 | $56,850 |
| Gender Pay Gap | 30.3% | 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 Franklin County, 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 43% more than women's income in Franklin County, Tennessee. Over a 35-year career, a 43% wage gap accumulates to roughly $640,185 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Franklin County, Tennessee has widened from about 28% to 30% in 2024. Over that period the gap was widest at 31% in 2016, and was narrowest at 25% in 2021. In dollar terms, the gap has widened by $6,758 since 2009.
Sharply against the trend: the pay gap in Franklin County widened by 2.1 points while Tennessee's narrowed by 3.7 points.
Employment
| Metric | Franklin County | Tennessee Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.9% | 4.6% | 5.2% |
| Working from Home | 8.3% | 12.9% | 15.0% |
| Commute time (minutes) | 20 | 22 | 22 |
Approximately 592 people are unemployed in Franklin County, Tennessee.
The average commute time in Franklin County is 20 minutes, shorter than the 22 minutes in Tennessee.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Franklin County, Tennessee has fallen from 10.1% to 2.9% in 2024. Over that period the rate peaked at 11.7% in 2013 and fell as low as 2.6% in 2022.
Franklin County, TN Wealth Compared With Nearby Counties
Franklin County, TN is the 3rd largest of the 6 counties compared here, 44,097 residents against a local median of 29,249. The measure that sets Franklin County, TN apart most is unemployment: 2.9%, 36% below the local median of 4.5%. That is the better end of the local range on this measure.
The counties themselves spread 5.4% on unemployment, so Franklin County, TN sits at one end of an already wide local range rather than apart from it. Franklin County, TN has the lowest unemployment of the 6 areas compared here.
| 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. |
|---|---|---|---|---|---|
| Franklin County, TN | 44,097 | $62,739 #2/6 | 4.4%/yr #3/6 | 2.9% #1/6 | 0.529 #2/6 |
| Moore County, TN | 6,674 | $66,938 | 4.0%/yr | 4.5% | 0.529 |
| Coffee County, TN | 59,710 | $61,155 | 3.8%/yr | 3.5% | 0.534 |
| Jackson County, AL | 53,053 | $52,554 | 4.1%/yr | 4.5% | 0.553 |
| Grundy County, TN | 13,819 | $48,237 | 6.7%/yr | 9.0% | 0.554 |
| Marion County, TN | 29,249 | $61,839 | 5.0%/yr | 7.1% | 0.532 |
Conclusion
Considering all these factors, Franklin County, Tennessee has an overall wealth index grade of C, making it about on par with Tennessee, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Franklin County, Tennessee.
How Rich Is Franklin County, Tennessee?
Franklin County has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $62,739, about 10% lower than the Tennessee average of $69,901.
How fast is household income rising in Franklin County, Tennessee?
Between 2009 and 2024, the median household income in Franklin County, Tennessee rose 52%, from $41,318 to $62,739. Over the same years, income here lagged behind Tennessee as a whole: +52% against +63%.
What was the median household income in Franklin County in 2023?
In 2023, the median household income in Franklin County, Tennessee was $61,218, up 6% from $57,809 in 2022. The Tennessee median that year was $67,483.
What was the median household income in Franklin County in 2020?
In 2020, the median household income in Franklin County, Tennessee was $47,902. By 2024 it had risen 31% to $62,739.
How strong is the job market in Franklin County, Tennessee?
Unemployment in Franklin County, Tennessee is only 2.9%, 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 Franklin County, Tennessee?
The Gini coefficient in Franklin County 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 Franklin County, Tennessee?
Since 2009, the income gap between men and women in Franklin County, Tennessee has widened from about 28% to 30% in 2024. Over that period the gap was widest at 31% in 2016, and was narrowest at 25% in 2021. In dollar terms, the gap has widened by $6,758 since 2009.
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