Lake County, Tennessee Income Statistics
Lake County Wealth Score
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.
-
F
Lake County Well below averageLeast wealthy county in Tennessee
Source: Map AI Methodology
Income Statistics Overview
| Metric | Lake County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Household Income | $29,158 | $69,901 | $80,455 |
| Median Personal Income | $37,707 | $53,263 | $60,758 |
| Average Yearly Income Growth | -0.1% | 5.2% | 4.8% |
| Six-Figure Earners | 2.8% | 10.4% | 13.9% |
| $200k+ Households | 2.1% | 9.0% | 13.2% |
The median household income in Lake County is about 58% lower than in Tennessee. Income has been growing slower in Lake County (-0.1%/yr) than in Tennessee (5.2%/yr).
About 3% of adults in Lake County earn six figures ($100,000 or more) a year, lower than the Tennessee average of 10%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Lake County, Tennessee grew by 24.1% from 2009 to 2024, reaching $29,158 in 2024. That's an average of about 0.1% per year.
Income Inequality and the Gender Pay Gap in Lake County
| Metric | Lake County | Tennessee Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.711 | 0.542 | 0.552 |
| Male Median Income | $46,832 | $61,993 | $69,667 |
| Female Median Income | $37,900 | $50,108 | $56,850 |
| Gender Pay Gap | 19.1% | 19.2% | 18.4% |
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 Lake County, it is 0.711, higher than Tennessee's 0.542, so income is less evenly distributed here than there, and higher than the US's 0.552, so income is less evenly distributed here than there.
Men's income is about 24% more than women's income in Lake County, Tennessee. Over a 35-year career, a 24% wage gap accumulates to roughly $312,620 in unearned income for female workers in the area.
Income by Sex Over Time
The income gap between men and women in Lake County, Tennessee has stayed about the same since 2009, at around 19%. Over that period the gap was widest at 39% in 2020, and was narrowest at 5% in 2015. In dollar terms, the gap has widened by $2,820 since 2009.
Employment
| Metric | Lake County | Tennessee Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.9% | 4.6% | 5.2% |
| Working from Home | 2.7% | 12.9% | 15.0% |
| Commute time (minutes) | 18 | 22 | 22 |
Approximately 85 people are unemployed in Lake County, Tennessee.
The average commute time in Lake County is 18 minutes, shorter than the 22 minutes in Tennessee.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Lake County, Tennessee has fallen from 13.7% to 4.9% in 2024. Over that period the rate peaked at 14.2% in 2013 and fell as low as 4.3% in 2023.
Lake County, TN Wealth Compared With Nearby Counties
Lake County, TN is the 5th largest of the 6 counties compared here, 6,577 residents against a local median of 15,731. Lake County, TN's income growth, at -0.1%/yr, runs 103% below the 4.2%/yr typical of the counties around it. That is the weaker end of the local range on this measure.
Median household income tells the same story from another angle: $29,158 against a local median of $51,538, 43% below it. Every measure here with a clear better direction points the same way, and it is the wrong way: Lake County, TN reads weaker than its neighbours on all of them. The counties themselves spread 3.2%/yr on income growth, so Lake County, TN sits at one end of an already wide local range rather than apart from it. Lake County, TN has the 6th highest income growth of the 6 areas compared here.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Lake County, TN | 6,577 | $29,158 #6/6 | -0.1%/yr #6/6 | 4.9% #5/6 | 0.711 #6/6 |
| Dyer County, TN | 36,498 | $57,668 | 3.8%/yr | 4.7% | 0.543 |
| New Madrid County, MO | 15,731 | $51,538 | 6.2%/yr | 3.4% | 0.529 |
| Pemiscot County, MO | 14,958 | $40,104 | 3.0%/yr | 9.7% | 0.587 |
| Obion County, TN | 30,444 | $53,903 | 4.2%/yr | 4.2% | 0.528 |
| Fulton County, KY | 6,409 | $38,509 | 4.6%/yr | 3.3% | 0.542 |
Conclusion
Considering all these factors, Lake County, Tennessee has an overall wealth index grade of F, making it worse than Tennessee, and worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Lake County, Tennessee.
How Rich Is Lake County, Tennessee?
Lake County has a wealth index grade of F. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an F grade means residents are well below the U.S. average. The median household income is $29,158, about 58% lower than the Tennessee average of $69,901.
Are incomes growing in Lake County, Tennessee?
Between 2009 and 2024, the median household income in Lake County, Tennessee rose 24%, from $23,487 to $29,158. Over the same years, income here lagged behind Tennessee as a whole: +24% against +63%.
What was the median household income in Lake County in 2023?
In 2023, the median household income in Lake County, Tennessee was $30,192, down 6% from $32,233 in 2022. The Tennessee median that year was $67,483.
What was the median household income in Lake County in 2020?
In 2020, the median household income in Lake County, Tennessee was $33,587. By 2024 it had fallen 13% to $29,158.
What is the Gini coefficient in Lake County, Tennessee?
The Gini coefficient in Lake County is 0.711. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.552, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Lake County, Tennessee?
The income gap between men and women in Lake County, Tennessee has stayed about the same since 2009, at around 19%. Over that period the gap was widest at 39% in 2020, and was narrowest at 5% in 2015. In dollar terms, the gap has widened by $2,820 since 2009.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →