Morristown, Tennessee Income Statistics
Morristown Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
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D
Morristown Well below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Morristown | Tennessee Avg | US Average |
|---|---|---|---|
| Median Household Income | $46,329 | $69,901 | $80,455 |
| Median Personal Income | $41,148 | $53,263 | $60,758 |
| Average Yearly Income Growth | 5.1% | 5.2% | 4.8% |
| Six-Figure Earners | 3.5% | 10.4% | 13.9% |
| $200k+ Households | 2.9% | 9.0% | 13.2% |
The median household income in Morristown is about 34% lower than in Tennessee. Income has been growing slower in Morristown (5.1%/yr) than in Tennessee (5.2%/yr).
About 4% of adults in Morristown 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 Morristown, Tennessee grew by 41.6% from 2009 to 2024, reaching $46,329 in 2024. That's an average of about 5.1% per year.
Income Inequality and the Gender Pay Gap in Morristown
| Metric | Morristown | Tennessee Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.548 | 0.542 | 0.552 |
| Male Median Income | $45,084 | $61,993 | $69,667 |
| Female Median Income | $43,047 | $50,108 | $56,850 |
| Gender Pay Gap | 4.5% | 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 Morristown, it is 0.548, higher than Tennessee's 0.542, so income is less evenly distributed here than there, and about the same as the US's 0.552, so income here is about as evenly distributed as there.
Men's income is about 5% more than women's income in Morristown, Tennessee. Over a 35-year career, a 5% wage gap accumulates to roughly $71,295 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Morristown, Tennessee has narrowed from about 13% to 5% in 2024. Over that period the gap was widest at 22% in 2016. In dollar terms, the gap has narrowed by $2,026 since 2009.
Employment
| Metric | Morristown | Tennessee Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 7.5% | 4.6% | 5.2% |
| Working from Home | 3.0% | 12.9% | 15.0% |
| Commute time (minutes) | 16 | 22 | 22 |
Approximately 949 people are unemployed in Morristown, Tennessee.
The average commute time in Morristown is 16 minutes, shorter than the 22 minutes in Tennessee.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Morristown, Tennessee has fallen from 13.3% to 7.5% in 2024. Over that period the rate peaked at 14.6% in 2013.
Conclusion
Considering all these factors, Morristown, 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 Morristown, Tennessee.
How Rich Is Morristown, Tennessee?
Morristown 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 $46,329, about 34% lower than the Tennessee average of $69,901.
How fast is household income rising in Morristown, Tennessee?
Between 2009 and 2024, the median household income in Morristown, Tennessee rose 42%, from $32,719 to $46,329. Over the same years, income here lagged behind Tennessee as a whole: +42% against +63%.
What was the median household income in Morristown in 2023?
In 2023, the median household income in Morristown, Tennessee was $44,467, up 13% from $39,441 in 2022. The Tennessee median that year was $67,483.
What was the median household income in Morristown in 2020?
In 2020, the median household income in Morristown, Tennessee was $35,702. By 2024 it had risen 30% to $46,329.
How strong is the job market in Morristown, Tennessee?
Unemployment in Morristown, Tennessee is 7.5%, well above the Tennessee rate of 4.6%, so job seekers may face more competition than elsewhere.
What is the Gini coefficient in Morristown, Tennessee?
The Gini coefficient in Morristown is 0.548. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.552, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Morristown, Tennessee?
Since 2009, the income gap between men and women in Morristown, Tennessee has narrowed from about 13% to 5% in 2024. Over that period the gap was widest at 22% in 2016. In dollar terms, the gap has narrowed by $2,026 since 2009.
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