Wealth Index
Less wealthy than 94% 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 | Wayne County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Household Income | $53,686 | $67,486 | $78,145 |
| Median Personal Income | $42,445 | $54,029 | $61,726 |
| Average income growth | 6.6% | 5.4% | 5.1% |
| Six-Figure Earners | 4.8% | 9.7% | 13.2% |
The median household income in Wayne County is about 20% lower than in Tennessee. Income has been growing faster in Wayne County (6.6%/yr) than in Tennessee (5.4%/yr).
About 5% of adults in Wayne 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 Wayne County, Tennessee grew by 72.0% from 2009 to 2023, reaching $53,686 in 2023. That's an average of about 6.6% per year.
Economic Inequality in Wayne County | Gender Pay Gap | Gini Coefficient
| Metric | Wayne County | Tennessee Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.580 | 0.558 | 0.570 |
| Male Median Income | $44,360 | $60,097 | $67,746 |
| Female Median Income | $40,444 | $48,310 | $54,793 |
| Gender Pay Gap | 8.8% | 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 Wayne County, it is 0.580, higher than Tennessee's 0.558, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 10% more than women's income in Wayne County, Tennessee. Over a 35-year career, a 10% wage gap accumulates to roughly $137,060 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Wayne County, Tennessee has narrowed from about 22% to 9% in 2023. In dollar terms, the gap has narrowed by $3,400 since 2009.
Employment
| Metric | Wayne County | Tennessee Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.8% | 4.7% | 5.2% |
| Working from Home | 8.9% | 11.4% | 13.4% |
| Commute time (minutes) | 28 | 22 | 22 |
Approximately 254 people are unemployed in Wayne County, Tennessee.
The average commute time in Wayne County is 28 minutes, longer than the 22 minutes in Tennessee.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Wayne County, Tennessee has fallen from 14.0% to 3.8% in 2023.
Conclusion
Considering all these factors, Wayne 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 Wayne County, Tennessee.
How Rich Is Wayne County, Tennessee?
Wayne 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 $53,686, about 20% lower than the Tennessee average of $67,486.
What is the current median household income in Wayne County, Tennessee?
As of 2023, the median household income in Wayne County, Tennessee is $53,686.
What was the median household income in Wayne County in 2023?
In 2023, the median household income in Wayne County, Tennessee was $53,686.
What was the median household income in Wayne County in 2020?
In 2020, the median household income in Wayne County, Tennessee was $42,614.
What is the Gini coefficient in Wayne County, Tennessee?
The Gini coefficient in Wayne County is 0.580. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Wayne County, Tennessee?
Since 2009, the income gap between men and women in Wayne County, Tennessee has narrowed from about 22% to 9% in 2023. In dollar terms, the gap has narrowed by $3,400 since 2009.