Wealth Index
Among the top 3 wealthiest 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 | Sumner County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Household Income | $87,142 | $67,486 | $78,145 |
| Median Personal Income | $61,086 | $54,029 | $61,726 |
| Average income growth | 5.7% | 5.4% | 5.1% |
| Six-Figure Earners | 12.3% | 9.7% | 13.2% |
The median household income in Sumner County is about 29% higher than in Tennessee. Income has been growing faster in Sumner County (5.7%/yr) than in Tennessee (5.4%/yr).
About 12% of adults in Sumner County earn six figures ($100,000 or more) a year, higher than the Tennessee average of 10%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Sumner County, Tennessee grew by 59.0% from 2009 to 2023, reaching $87,142 in 2023. That's an average of about 5.7% per year.
Economic Inequality in Sumner County | Gender Pay Gap | Gini Coefficient
| Metric | Sumner County | Tennessee Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.535 | 0.558 | 0.570 |
| Male Median Income | $69,830 | $60,097 | $67,746 |
| Female Median Income | $52,881 | $48,310 | $54,793 |
| Gender Pay Gap | 24.3% | 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 Sumner County, it is 0.535, 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 32% more than women's income in Sumner County, Tennessee. Over a 35-year career, a 32% wage gap accumulates to roughly $593,215 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Sumner County, Tennessee has narrowed from about 25% to 24% in 2023. In dollar terms, the gap has widened by $5,228 since 2009.
Employment
| Metric | Sumner County | Tennessee Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.2% | 4.7% | 5.2% |
| Working from Home | 14.4% | 11.4% | 13.4% |
| Commute time (minutes) | 26 | 22 | 22 |
Approximately 3,430 people are unemployed in Sumner County, Tennessee.
The average commute time in Sumner County is 26 minutes, longer than the 22 minutes in Tennessee.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Sumner County, Tennessee has fallen from 7.6% to 3.2% in 2023.
Conclusion
Considering all these factors, Sumner County, Tennessee has an overall wealth index grade of B, making it somewhat better than Tennessee, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Sumner County, Tennessee.
How Rich Is Sumner County, Tennessee?
Sumner County has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $87,142, about 29% higher than the Tennessee average of $67,486.
What is the current median household income in Sumner County, Tennessee?
As of 2023, the median household income in Sumner County, Tennessee is $87,142.
What was the median household income in Sumner County in 2023?
In 2023, the median household income in Sumner County, Tennessee was $87,142.
What was the median household income in Sumner County in 2020?
In 2020, the median household income in Sumner County, Tennessee was $70,792.
What is the Gini coefficient in Sumner County, Tennessee?
The Gini coefficient in Sumner County is 0.535. 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 Sumner County, Tennessee?
Since 2009, the income gap between men and women in Sumner County, Tennessee has narrowed from about 25% to 24% in 2023. In dollar terms, the gap has widened by $5,228 since 2009.