Wealth Index
Wealthier than 78% 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 | Roane County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Household Income | $66,662 | $67,486 | $78,145 |
| Median Personal Income | $53,674 | $54,029 | $61,726 |
| Average income growth | 6.7% | 5.4% | 5.1% |
| Six-Figure Earners | 9.9% | 9.7% | 13.2% |
The median household income in Roane County is about 1% lower than in Tennessee. Income has been growing faster in Roane County (6.7%/yr) than in Tennessee (5.4%/yr).
About 10% of adults in Roane County earn six figures ($100,000 or more) a year, about the same as the Tennessee average of 10%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Roane County, Tennessee grew by 53.9% from 2009 to 2023, reaching $66,662 in 2023. That's an average of about 6.7% per year.
Economic Inequality in Roane County | Gender Pay Gap | Gini Coefficient
| Metric | Roane County | Tennessee Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.572 | 0.558 | 0.570 |
| Male Median Income | $63,273 | $60,097 | $67,746 |
| Female Median Income | $46,077 | $48,310 | $54,793 |
| Gender Pay Gap | 27.2% | 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 Roane County, it is 0.572, 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 37% more than women's income in Roane County, Tennessee. Over a 35-year career, a 37% wage gap accumulates to roughly $601,860 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Roane County, Tennessee has narrowed from about 33% to 27% in 2023. In dollar terms, the gap has widened by $2,391 since 2009.
Employment
| Metric | Roane County | Tennessee Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.8% | 4.7% | 5.2% |
| Working from Home | 9.1% | 11.4% | 13.4% |
| Commute time (minutes) | 26 | 22 | 22 |
Approximately 1,169 people are unemployed in Roane County, Tennessee.
The average commute time in Roane County is 26 minutes, longer than the 22 minutes in Tennessee.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Roane County, Tennessee has fallen from 9.0% to 4.8% in 2023.
Conclusion
Considering all these factors, Roane County, Tennessee has an overall wealth index grade of C, making it about on par with Tennessee, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Roane County, Tennessee.
How Rich Is Roane County, Tennessee?
Roane 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 $66,662, about 1% lower than the Tennessee average of $67,486.
What is the current median household income in Roane County, Tennessee?
As of 2023, the median household income in Roane County, Tennessee is $66,662.
What was the median household income in Roane County in 2023?
In 2023, the median household income in Roane County, Tennessee was $66,662.
What was the median household income in Roane County in 2020?
In 2020, the median household income in Roane County, Tennessee was $56,132.
What is the Gini coefficient in Roane County, Tennessee?
The Gini coefficient in Roane County is 0.572. 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 Roane County, Tennessee?
Since 2009, the income gap between men and women in Roane County, Tennessee has narrowed from about 33% to 27% in 2023. In dollar terms, the gap has widened by $2,391 since 2009.