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 | Henderson County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Household Income | $52,832 | $67,486 | $78,145 |
| Median Personal Income | $46,745 | $54,029 | $61,726 |
| Average income growth | 3.5% | 5.4% | 5.1% |
| Six-Figure Earners | 5.1% | 9.7% | 13.2% |
The median household income in Henderson County is about 22% lower than in Tennessee. Income has been growing slower in Henderson County (3.5%/yr) than in Tennessee (5.4%/yr).
About 5% of adults in Henderson 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 Henderson County, Tennessee grew by 34.6% from 2009 to 2023, reaching $52,832 in 2023. That's an average of about 3.5% per year.
Economic Inequality in Henderson County | Gender Pay Gap | Gini Coefficient
| Metric | Henderson County | Tennessee Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.545 | 0.558 | 0.570 |
| Male Median Income | $52,690 | $60,097 | $67,746 |
| Female Median Income | $42,290 | $48,310 | $54,793 |
| Gender Pay Gap | 19.7% | 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 Henderson County, it is 0.545, 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 25% more than women's income in Henderson County, Tennessee. Over a 35-year career, a 25% wage gap accumulates to roughly $364,000 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Henderson County, Tennessee has widened from about 19% to 20% in 2023. In dollar terms, the gap has widened by $3,204 since 2009.
Employment
| Metric | Henderson County | Tennessee Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 7.1% | 4.7% | 5.2% |
| Working from Home | 9.4% | 11.4% | 13.4% |
| Commute time (minutes) | 22 | 22 | 22 |
Approximately 860 people are unemployed in Henderson County, Tennessee.
The average commute time in Henderson County is 22 minutes, about the same as in Tennessee.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Henderson County, Tennessee has fallen from 11.1% to 7.1% in 2023.
Conclusion
Considering all these factors, Henderson 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 Henderson County, Tennessee.
How Rich Is Henderson County, Tennessee?
Henderson 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 $52,832, about 22% lower than the Tennessee average of $67,486.
What is the current median household income in Henderson County, Tennessee?
As of 2023, the median household income in Henderson County, Tennessee is $52,832.
What was the median household income in Henderson County in 2023?
In 2023, the median household income in Henderson County, Tennessee was $52,832.
What was the median household income in Henderson County in 2020?
In 2020, the median household income in Henderson County, Tennessee was $44,581.
What is the Gini coefficient in Henderson County, Tennessee?
The Gini coefficient in Henderson County is 0.545. 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 Henderson County, Tennessee?
Since 2009, the income gap between men and women in Henderson County, Tennessee has widened from about 19% to 20% in 2023. In dollar terms, the gap has widened by $3,204 since 2009.