Wealth Index
Wealthier than 88% of counties in Tennessee
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 | Hamilton County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Household Income | $73,302 | $67,486 | $78,145 |
| Median Personal Income | $57,860 | $54,029 | $61,726 |
| Average income growth | 5.8% | 5.4% | 5.1% |
| Six-Figure Earners | 12.2% | 9.7% | 13.2% |
The median household income in Hamilton County is about 9% higher than in Tennessee. Income has been growing faster in Hamilton County (5.8%/yr) than in Tennessee (5.4%/yr).
About 12% of adults in Hamilton County earn six figures ($100,000 or more) a year, higher than the Tennessee average of 10%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Hamilton County, Tennessee grew by 61.0% from 2009 to 2023, reaching $73,302 in 2023. That's an average of about 5.8% per year.
Economic Inequality in Hamilton County | Gender Pay Gap | Gini Coefficient
| Metric | Hamilton County | Tennessee Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.553 | 0.558 | 0.570 |
| Male Median Income | $65,546 | $60,097 | $67,746 |
| Female Median Income | $50,497 | $48,310 | $54,793 |
| Gender Pay Gap | 23.0% | 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 Hamilton County, it is 0.553, about the same as Tennessee's 0.558, so income here is about as evenly distributed as there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 30% more than women's income in Hamilton County, Tennessee. Over a 35-year career, a 30% wage gap accumulates to roughly $526,715 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Hamilton County, Tennessee has narrowed from about 27% to 23% in 2023. In dollar terms, the gap has widened by $3,259 since 2009.
Employment
| Metric | Hamilton County | Tennessee Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.2% | 4.7% | 5.2% |
| Working from Home | 13.0% | 11.4% | 13.4% |
| Commute time (minutes) | 20 | 22 | 22 |
Approximately 8,045 people are unemployed in Hamilton County, Tennessee.
The average commute time in Hamilton County is 20 minutes, shorter than the 22 minutes in Tennessee.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Hamilton County, Tennessee has fallen from 9.6% to 4.2% in 2023.
Conclusion
Considering all these factors, Hamilton County, Tennessee has an overall wealth index grade of C, making it somewhat better than Tennessee, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Hamilton County, Tennessee.
How Rich Is Hamilton County, Tennessee?
Hamilton 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 $73,302, about 9% higher than the Tennessee average of $67,486.
What is the current median household income in Hamilton County, Tennessee?
As of 2023, the median household income in Hamilton County, Tennessee is $73,302.
What was the median household income in Hamilton County in 2023?
In 2023, the median household income in Hamilton County, Tennessee was $73,302.
What was the median household income in Hamilton County in 2020?
In 2020, the median household income in Hamilton County, Tennessee was $56,851.
What is the Gini coefficient in Hamilton County, Tennessee?
The Gini coefficient in Hamilton County is 0.553. 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 Hamilton County, Tennessee?
Since 2009, the income gap between men and women in Hamilton County, Tennessee has narrowed from about 27% to 23% in 2023. In dollar terms, the gap has widened by $3,259 since 2009.