Wealth Index
Less wealthy than 90% 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 | Haywood County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Household Income | $43,760 | $67,486 | $78,145 |
| Median Personal Income | $44,292 | $54,029 | $61,726 |
| Average income growth | 3.3% | 5.4% | 5.1% |
| Six-Figure Earners | 3.4% | 9.7% | 13.2% |
The median household income in Haywood County is about 35% lower than in Tennessee. Income has been growing slower in Haywood County (3.3%/yr) than in Tennessee (5.4%/yr).
About 3% of adults in Haywood 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 Haywood County, Tennessee grew by 42.9% from 2009 to 2023, reaching $43,760 in 2023. That's an average of about 3.3% per year.
Economic Inequality in Haywood County | Gender Pay Gap | Gini Coefficient
| Metric | Haywood County | Tennessee Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.521 | 0.558 | 0.570 |
| Male Median Income | $45,932 | $60,097 | $67,746 |
| Female Median Income | $42,922 | $48,310 | $54,793 |
| Gender Pay Gap | 6.6% | 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 Haywood County, it is 0.521, 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 7% more than women's income in Haywood County, Tennessee. Over a 35-year career, a 7% wage gap accumulates to roughly $105,350 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Haywood County, Tennessee has narrowed from about 8% to 7% in 2023. In dollar terms, the gap has widened by $227 since 2009.
Employment
| Metric | Haywood County | Tennessee Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.6% | 4.7% | 5.2% |
| Working from Home | 4.4% | 11.4% | 13.4% |
| Commute time (minutes) | 22 | 22 | 22 |
Approximately 515 people are unemployed in Haywood County, Tennessee.
The average commute time in Haywood County is 22 minutes, about the same as in Tennessee.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Haywood County, Tennessee has fallen from 13.7% to 6.6% in 2023.
Conclusion
Considering all these factors, Haywood County, Tennessee has an overall wealth index grade of D, making it somewhat worse than Tennessee, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Haywood County, Tennessee.
How Rich Is Haywood County, Tennessee?
Haywood 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 $43,760, about 35% lower than the Tennessee average of $67,486.
What is the current median household income in Haywood County, Tennessee?
As of 2023, the median household income in Haywood County, Tennessee is $43,760.
What was the median household income in Haywood County in 2023?
In 2023, the median household income in Haywood County, Tennessee was $43,760.
What was the median household income in Haywood County in 2020?
In 2020, the median household income in Haywood County, Tennessee was $38,832.
What is the Gini coefficient in Haywood County, Tennessee?
The Gini coefficient in Haywood County is 0.521. 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 Haywood County, Tennessee?
Since 2009, the income gap between men and women in Haywood County, Tennessee has narrowed from about 8% to 7% in 2023. In dollar terms, the gap has widened by $227 since 2009.