Wealth Index
Less wealthy than 83% 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 | Weakley County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Household Income | $49,486 | $67,486 | $78,145 |
| Median Personal Income | $44,172 | $54,029 | $61,726 |
| Average income growth | 3.8% | 5.4% | 5.1% |
| Six-Figure Earners | 4.2% | 9.7% | 13.2% |
The median household income in Weakley County is about 27% lower than in Tennessee. Income has been growing slower in Weakley County (3.8%/yr) than in Tennessee (5.4%/yr).
About 4% of adults in Weakley 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 Weakley County, Tennessee grew by 47.3% from 2009 to 2023, reaching $49,486 in 2023. That's an average of about 3.8% per year.
Economic Inequality in Weakley County | Gender Pay Gap | Gini Coefficient
| Metric | Weakley County | Tennessee Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.554 | 0.558 | 0.570 |
| Male Median Income | $45,665 | $60,097 | $67,746 |
| Female Median Income | $42,494 | $48,310 | $54,793 |
| Gender Pay Gap | 6.9% | 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 Weakley County, it is 0.554, about the same as Tennessee's 0.558, so income here is about as evenly distributed as there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 7% more than women's income in Weakley County, Tennessee. Over a 35-year career, a 7% wage gap accumulates to roughly $110,985 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Weakley County, Tennessee has narrowed from about 21% to 7% in 2023. In dollar terms, the gap has narrowed by $4,767 since 2009.
Employment
| Metric | Weakley County | Tennessee Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.9% | 4.7% | 5.2% |
| Working from Home | 6.8% | 11.4% | 13.4% |
| Commute time (minutes) | 17 | 22 | 22 |
Approximately 435 people are unemployed in Weakley County, Tennessee.
The average commute time in Weakley County is 17 minutes, shorter than the 22 minutes in Tennessee.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Weakley County, Tennessee has fallen from 11.6% to 2.9% in 2023.
Conclusion
Considering all these factors, Weakley 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 Weakley County, Tennessee.
How Rich Is Weakley County, Tennessee?
Weakley 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 $49,486, about 27% lower than the Tennessee average of $67,486.
What is the current median household income in Weakley County, Tennessee?
As of 2023, the median household income in Weakley County, Tennessee is $49,486.
What was the median household income in Weakley County in 2023?
In 2023, the median household income in Weakley County, Tennessee was $49,486.
What was the median household income in Weakley County in 2020?
In 2020, the median household income in Weakley County, Tennessee was $41,443.
What is the Gini coefficient in Weakley County, Tennessee?
The Gini coefficient in Weakley County is 0.554. 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 Weakley County, Tennessee?
Since 2009, the income gap between men and women in Weakley County, Tennessee has narrowed from about 21% to 7% in 2023. In dollar terms, the gap has narrowed by $4,767 since 2009.