Wealth Index
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.
Income Statistics Overview
| Metric | Gibson County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Household Income | $58,915 | $67,486 | $78,145 |
| Median Personal Income | $47,707 | $54,029 | $61,726 |
| Average income growth | 6.0% | 5.4% | 5.1% |
| Six-Figure Earners | 5.1% | 9.7% | 13.2% |
The median household income in Gibson County is about 13% lower than in Tennessee. Income has been growing faster in Gibson County (6.0%/yr) than in Tennessee (5.4%/yr).
About 5% of adults in Gibson County earn six figures ($100,000 or more) a year, lower than the Tennessee average of 10%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Gibson County, Tennessee grew by 72.8% from 2009 to 2023, reaching $58,915 in 2023. That's an average of about 6.0% per year.
Economic Inequality in Gibson County | Gender Pay Gap | Gini Coefficient
| Metric | Gibson County | Tennessee Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.547 | 0.558 | 0.570 |
| Male Median Income | $54,512 | $60,097 | $67,746 |
| Female Median Income | $42,588 | $48,310 | $54,793 |
| Gender Pay Gap | 21.9% | 19.6% | 19.1% |
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 Gibson County, it is 0.547, lower than Tennessee's 0.558, so income is more evenly distributed here than there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 28% more than women's income in Gibson County, Tennessee. Over a 35-year career, a 28% wage gap accumulates to roughly $417,340 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Gibson County, Tennessee has narrowed from about 27% to 22% in 2023. In dollar terms, the gap has widened by $1,776 since 2009.
Employment
| Metric | Gibson County | Tennessee Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.2% | 4.7% | 5.2% |
| Working from Home | 5.9% | 11.4% | 13.4% |
| Commute time (minutes) | 23 | 22 | 22 |
Approximately 1,195 people are unemployed in Gibson County, Tennessee.
The average commute time in Gibson County is 23 minutes, longer than the 22 minutes in Tennessee.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Gibson County, Tennessee has fallen from 10.8% to 5.2% in 2023.
Conclusion
Considering all these factors, Gibson County, Tennessee has an overall wealth index grade of D, making it about on par with Tennessee, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Gibson County, Tennessee.
How Rich Is Gibson County, Tennessee?
Gibson County has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $58,915, about 13% lower than the Tennessee average of $67,486.
What is the current median household income in Gibson County, Tennessee?
As of 2023, the median household income in Gibson County, Tennessee is $58,915.
What was the median household income in Gibson County in 2023?
In 2023, the median household income in Gibson County, Tennessee was $58,915.
What was the median household income in Gibson County in 2020?
In 2020, the median household income in Gibson County, Tennessee was $45,577.
What is the Gini coefficient in Gibson County, Tennessee?
The Gini coefficient in Gibson County is 0.547. 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 0.570, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Gibson County, Tennessee?
Since 2009, the income gap between men and women in Gibson County, Tennessee has narrowed from about 27% to 22% in 2023. In dollar terms, the gap has widened by $1,776 since 2009.