Wealth Index
Less wealthy than 95% 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 | Morgan County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Household Income | $58,607 | $67,486 | $78,145 |
| Median Personal Income | $52,608 | $54,029 | $61,726 |
| Average income growth | 5.8% | 5.4% | 5.1% |
| Six-Figure Earners | 4.3% | 9.7% | 13.2% |
The median household income in Morgan County is about 13% lower than in Tennessee. Income has been growing faster in Morgan County (5.8%/yr) than in Tennessee (5.4%/yr).
About 4% of adults in Morgan 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 Morgan County, Tennessee grew by 77.6% from 2009 to 2023, reaching $58,607 in 2023. That's an average of about 5.8% per year.
Economic Inequality in Morgan County | Gender Pay Gap | Gini Coefficient
| Metric | Morgan County | Tennessee Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.626 | 0.558 | 0.570 |
| Male Median Income | $56,588 | $60,097 | $67,746 |
| Female Median Income | $43,088 | $48,310 | $54,793 |
| Gender Pay Gap | 23.9% | 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 Morgan County, it is 0.626, higher than Tennessee's 0.558, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 31% more than women's income in Morgan County, Tennessee. Over a 35-year career, a 31% wage gap accumulates to roughly $472,500 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Morgan County, Tennessee has widened from about 21% to 24% in 2023. In dollar terms, the gap has widened by $6,112 since 2009.
Employment
| Metric | Morgan County | Tennessee Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.0% | 4.7% | 5.2% |
| Working from Home | 5.2% | 11.4% | 13.4% |
| Commute time (minutes) | 30 | 22 | 22 |
Approximately 494 people are unemployed in Morgan County, Tennessee.
The average commute time in Morgan County is 30 minutes, longer than the 22 minutes in Tennessee.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Morgan County, Tennessee has fallen from 8.1% to 6.0% in 2023.
Conclusion
Considering all these factors, Morgan 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 Morgan County, Tennessee.
How Rich Is Morgan County, Tennessee?
Morgan 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 $58,607, about 13% lower than the Tennessee average of $67,486.
What is the current median household income in Morgan County, Tennessee?
As of 2023, the median household income in Morgan County, Tennessee is $58,607.
What was the median household income in Morgan County in 2023?
In 2023, the median household income in Morgan County, Tennessee was $58,607.
What was the median household income in Morgan County in 2020?
In 2020, the median household income in Morgan County, Tennessee was $41,887.
What is the Gini coefficient in Morgan County, Tennessee?
The Gini coefficient in Morgan County is 0.626. 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 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Morgan County, Tennessee?
Since 2009, the income gap between men and women in Morgan County, Tennessee has widened from about 21% to 24% in 2023. In dollar terms, the gap has widened by $6,112 since 2009.