Wealth Index
Wealthier than 85% 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 | Loudon County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Household Income | $79,906 | $67,486 | $78,145 |
| Median Personal Income | $53,993 | $54,029 | $61,726 |
| Average income growth | 6.1% | 5.4% | 5.1% |
| Six-Figure Earners | 11.6% | 9.7% | 13.2% |
The median household income in Loudon County is about 18% higher than in Tennessee. Income has been growing faster in Loudon County (6.1%/yr) than in Tennessee (5.4%/yr).
About 12% of adults in Loudon 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 Loudon County, Tennessee grew by 60.8% from 2009 to 2023, reaching $79,906 in 2023. That's an average of about 6.1% per year.
Economic Inequality in Loudon County | Gender Pay Gap | Gini Coefficient
| Metric | Loudon County | Tennessee Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.545 | 0.558 | 0.570 |
| Male Median Income | $59,983 | $60,097 | $67,746 |
| Female Median Income | $48,753 | $48,310 | $54,793 |
| Gender Pay Gap | 18.7% | 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 Loudon 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 23% more than women's income in Loudon County, Tennessee. Over a 35-year career, a 23% wage gap accumulates to roughly $393,050 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Loudon County, Tennessee has narrowed from about 32% to 19% in 2023. In dollar terms, the gap has narrowed by $3,103 since 2009.
Employment
| Metric | Loudon County | Tennessee Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.7% | 4.7% | 5.2% |
| Working from Home | 10.7% | 11.4% | 13.4% |
| Commute time (minutes) | 21 | 22 | 22 |
Approximately 690 people are unemployed in Loudon County, Tennessee.
The average commute time in Loudon County is 21 minutes, shorter than the 22 minutes in Tennessee.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Loudon County, Tennessee has fallen from 10.1% to 2.7% in 2023.
Conclusion
Considering all these factors, Loudon 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 Loudon County, Tennessee.
How Rich Is Loudon County, Tennessee?
Loudon 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 $79,906, about 18% higher than the Tennessee average of $67,486.
What is the current median household income in Loudon County, Tennessee?
As of 2023, the median household income in Loudon County, Tennessee is $79,906.
What was the median household income in Loudon County in 2023?
In 2023, the median household income in Loudon County, Tennessee was $79,906.
What was the median household income in Loudon County in 2020?
In 2020, the median household income in Loudon County, Tennessee was $62,144.
What is the Gini coefficient in Loudon County, Tennessee?
The Gini coefficient in Loudon 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 Loudon County, Tennessee?
Since 2009, the income gap between men and women in Loudon County, Tennessee has narrowed from about 32% to 19% in 2023. In dollar terms, the gap has narrowed by $3,103 since 2009.