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 | Overton County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Household Income | $45,928 | $67,486 | $78,145 |
| Median Personal Income | $44,913 | $54,029 | $61,726 |
| Average income growth | 4.1% | 5.4% | 5.1% |
| Six-Figure Earners | 6.5% | 9.7% | 13.2% |
The median household income in Overton County is about 32% lower than in Tennessee. Income has been growing slower in Overton County (4.1%/yr) than in Tennessee (5.4%/yr).
About 7% of adults in Overton 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 Overton County, Tennessee grew by 38.8% from 2009 to 2023, reaching $45,928 in 2023. That's an average of about 4.1% per year.
Economic Inequality in Overton County | Gender Pay Gap | Gini Coefficient
| Metric | Overton County | Tennessee Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.519 | 0.558 | 0.570 |
| Male Median Income | $50,481 | $60,097 | $67,746 |
| Female Median Income | $37,723 | $48,310 | $54,793 |
| Gender Pay Gap | 25.3% | 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 Overton County, it is 0.519, 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 34% more than women's income in Overton County, Tennessee. Over a 35-year career, a 34% wage gap accumulates to roughly $446,530 in unearned income for female workers in the area.
Income by Sex Over Time
The income gap between men and women in Overton County, Tennessee has stayed about the same since 2009, at around 25%. In dollar terms, the gap has widened by $4,050 since 2009.
Employment
| Metric | Overton County | Tennessee Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.9% | 4.7% | 5.2% |
| Working from Home | 6.9% | 11.4% | 13.4% |
| Commute time (minutes) | 23 | 22 | 22 |
Approximately 306 people are unemployed in Overton County, Tennessee.
The average commute time in Overton County is 23 minutes, longer than the 22 minutes in Tennessee.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Overton County, Tennessee has fallen from 7.6% to 2.9% in 2023.
Conclusion
Considering all these factors, Overton County, Tennessee has an overall wealth index grade of D, making it about on par with Tennessee, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Overton County, Tennessee.
How Wealthy Is Overton County, Tennessee?
Overton 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 $45,928, about 32% lower than the Tennessee average of $67,486.
What is the current median household income in Overton County, Tennessee?
As of 2023, the median household income in Overton County, Tennessee is $45,928.
What was the median household income in Overton County in 2023?
In 2023, the median household income in Overton County, Tennessee was $45,928.
What was the median household income in Overton County in 2020?
In 2020, the median household income in Overton County, Tennessee was $37,246.
What is the Gini coefficient in Overton County, Tennessee?
The Gini coefficient in Overton County is 0.519. 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 Overton County, Tennessee?
The income gap between men and women in Overton County, Tennessee has stayed about the same since 2009, at around 25%. In dollar terms, the gap has widened by $4,050 since 2009.