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 | Giles County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Household Income | $61,650 | $67,486 | $78,145 |
| Median Personal Income | $49,575 | $54,029 | $61,726 |
| Average income growth | 6.2% | 5.4% | 5.1% |
| Six-Figure Earners | 7.9% | 9.7% | 13.2% |
The median household income in Giles County is about 9% lower than in Tennessee. Income has been growing faster in Giles County (6.2%/yr) than in Tennessee (5.4%/yr).
About 8% of adults in Giles 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 Giles County, Tennessee grew by 57.1% from 2009 to 2023, reaching $61,650 in 2023. That's an average of about 6.2% per year.
Economic Inequality in Giles County | Gender Pay Gap | Gini Coefficient
| Metric | Giles County | Tennessee Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.522 | 0.558 | 0.570 |
| Male Median Income | $53,370 | $60,097 | $67,746 |
| Female Median Income | $46,439 | $48,310 | $54,793 |
| Gender Pay Gap | 13.0% | 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 Giles County, it is 0.522, 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 15% more than women's income in Giles County, Tennessee. Over a 35-year career, a 15% wage gap accumulates to roughly $242,585 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Giles County, Tennessee has narrowed from about 21% to 13% in 2023. In dollar terms, the gap has narrowed by $871 since 2009.
Employment
| Metric | Giles County | Tennessee Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.1% | 4.7% | 5.2% |
| Working from Home | 5.6% | 11.4% | 13.4% |
| Commute time (minutes) | 25 | 22 | 22 |
Approximately 722 people are unemployed in Giles County, Tennessee.
The average commute time in Giles County is 25 minutes, longer than the 22 minutes in Tennessee.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Giles County, Tennessee has fallen from 12.3% to 5.1% in 2023.
Conclusion
Considering all these factors, Giles 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 Giles County, Tennessee.
How Rich Is Giles County, Tennessee?
Giles 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 $61,650, about 9% lower than the Tennessee average of $67,486.
What is the current median household income in Giles County, Tennessee?
As of 2023, the median household income in Giles County, Tennessee is $61,650.
What was the median household income in Giles County in 2023?
In 2023, the median household income in Giles County, Tennessee was $61,650.
What was the median household income in Giles County in 2020?
In 2020, the median household income in Giles County, Tennessee was $49,763.
What is the Gini coefficient in Giles County, Tennessee?
The Gini coefficient in Giles County is 0.522. 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 Giles County, Tennessee?
Since 2009, the income gap between men and women in Giles County, Tennessee has narrowed from about 21% to 13% in 2023. In dollar terms, the gap has narrowed by $871 since 2009.