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 | Putnam County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Household Income | $56,529 | $67,486 | $78,145 |
| Median Personal Income | $46,220 | $54,029 | $61,726 |
| Average income growth | 6.4% | 5.4% | 5.1% |
| Six-Figure Earners | 6.3% | 9.7% | 13.2% |
The median household income in Putnam County is about 16% lower than in Tennessee. Income has been growing faster in Putnam County (6.4%/yr) than in Tennessee (5.4%/yr).
About 6% of adults in Putnam 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 Putnam County, Tennessee grew by 62.9% from 2009 to 2023, reaching $56,529 in 2023. That's an average of about 6.4% per year.
Economic Inequality in Putnam County | Gender Pay Gap | Gini Coefficient
| Metric | Putnam County | Tennessee Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.565 | 0.558 | 0.570 |
| Male Median Income | $50,071 | $60,097 | $67,746 |
| Female Median Income | $41,634 | $48,310 | $54,793 |
| Gender Pay Gap | 16.9% | 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 Putnam County, it is 0.565, higher than Tennessee's 0.558, so income is less evenly distributed here than there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 20% more than women's income in Putnam County, Tennessee. Over a 35-year career, a 20% wage gap accumulates to roughly $295,295 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Putnam County, Tennessee has narrowed from about 22% to 17% in 2023. In dollar terms, the gap has widened by $401 since 2009.
Employment
| Metric | Putnam County | Tennessee Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.8% | 4.7% | 5.2% |
| Working from Home | 8.0% | 11.4% | 13.4% |
| Commute time (minutes) | 17 | 22 | 22 |
Approximately 1,525 people are unemployed in Putnam County, Tennessee.
The average commute time in Putnam County is 17 minutes, shorter than the 22 minutes in Tennessee.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Putnam County, Tennessee has fallen from 8.1% to 3.8% in 2023.
Conclusion
Considering all these factors, Putnam 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 Putnam County, Tennessee.
How Rich Is Putnam County, Tennessee?
Putnam 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 $56,529, about 16% lower than the Tennessee average of $67,486.
What is the current median household income in Putnam County, Tennessee?
As of 2023, the median household income in Putnam County, Tennessee is $56,529.
What was the median household income in Putnam County in 2023?
In 2023, the median household income in Putnam County, Tennessee was $56,529.
What was the median household income in Putnam County in 2020?
In 2020, the median household income in Putnam County, Tennessee was $45,170.
What is the Gini coefficient in Putnam County, Tennessee?
The Gini coefficient in Putnam County is 0.565. 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 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Putnam County, Tennessee?
Since 2009, the income gap between men and women in Putnam County, Tennessee has narrowed from about 22% to 17% in 2023. In dollar terms, the gap has widened by $401 since 2009.