Tennessee Income Statistics
Tennessee Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of a state's residents based on income levels, employment rates, and income inequality metrics.
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C
Tennessee Below averageLess wealthy than 80% of states in US
Source: Map AI Methodology
Wealthiest and Least Wealthy Counties in Tennessee
- Williamson County (131% of U.S. avg)
- Wilson County (111% of U.S. avg)
- Sumner County (106% of U.S. avg)
- Lake County (52% of U.S. avg)
- Hardeman County (70% of U.S. avg)
- Lauderdale County (70% of U.S. avg)
Ranked by the Map AI Wealth Index, which combines income, employment, and income inequality metrics.
Income Statistics Overview
| Metric | Tennessee | US Average |
|---|---|---|
| Median Household Income | $69,901 | $80,455 |
| Median Personal Income | $53,263 | $60,758 |
| Average Yearly Income Growth | 5.2% | 4.8% |
| Six-Figure Earners | 10.4% | 13.9% |
| $200k+ Households | 9.0% | 13.2% |
The median household income in Tennessee is about 13% lower than in US. Income has been growing faster in Tennessee (5.2%/yr) than in US (4.8%/yr).
About 10% of adults in Tennessee earn six figures ($100,000 or more) a year, lower than the US average of 14%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Tennessee grew by 62.9% from 2009 to 2024, reaching $69,901 in 2024. That's an average of about 5.2% per year.
Income Inequality and the Gender Pay Gap in Tennessee
| Metric | Tennessee | US Average |
|---|---|---|
| Gini Coefficient | 0.542 | 0.552 |
| Male Median Income | $61,993 | $69,667 |
| Female Median Income | $50,108 | $56,850 |
| Gender Pay Gap | 19.2% | 18.4% |
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 Tennessee, it is 0.542, lower than US's 0.552, so income is more evenly distributed here than there.
Men's income is about 24% more than women's income in Tennessee. Over a 35-year career, a 24% wage gap accumulates to roughly $415,975 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Tennessee has narrowed from about 23% to 19% in 2024. Over that period the gap was narrowest at 19% in 2017. In dollar terms, the gap has widened by $2,424 since 2009.
Employment
| Metric | Tennessee | US Average |
|---|---|---|
| Unemployment Rate | 4.6% | 5.2% |
| Working from Home | 12.9% | 15.0% |
| Commute time (minutes) | 22 | 22 |
Approximately 164,805 people are unemployed in Tennessee.
The average commute time in Tennessee is 22 minutes, about the same as in US.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Tennessee has fallen from 9.2% to 4.6% in 2024. Over that period the rate peaked at 10.1% in 2013.
Tennessee Wealth Compared With Nearby States
Tennessee is the 2nd largest of the 6 states compared here, 7,058,506 residents against a local median of 5,083,438. There is no headline here. Every measure below sits within 15% of the median across the nearest states, which makes Tennessee an unremarkable member of its own neighbourhood rather than an outlier in it.
The largest of those small differences is income growth, 12% above the local median at 5.2%/yr against 4.6%/yr. Tennessee has the 2nd highest income growth of the 6 areas compared here.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Tennessee | 7,058,506 | $69,901 #3/6 | 5.2%/yr #2/6 | 4.6% #2/6 | 0.542 #2/6 |
| Kentucky | 4,533,530 | $64,312 | 4.6%/yr | 4.8% | 0.547 |
| Alabama | 5,083,438 | $64,544 | 4.7%/yr | 4.7% | 0.560 |
| Indiana | 6,845,048 | $71,967 | 4.5%/yr | 4.3% | 0.534 |
| Georgia | 10,939,918 | $77,523 | 5.3%/yr | 5.1% | 0.561 |
| Mississippi | 2,946,497 | $56,669 | 4.3%/yr | 5.7% | 0.566 |
Conclusion
Considering all these factors, Tennessee has an overall wealth index grade of C, making it about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Tennessee.
How Rich Is Tennessee?
Tennessee 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 $69,901, about 13% lower than the US average of $80,455.
How has median household income changed in Tennessee?
Between 2009 and 2024, the median household income in Tennessee rose 63%, from $42,918 to $69,901. Over the same years, income here outpaced the U.S. as a whole: +63% against +57%.
What was the median household income in Tennessee in 2023?
In 2023, the median household income in Tennessee was $67,483, up 5% from $64,208 in 2022. The US median that year was $78,147.
What was the median household income in Tennessee in 2020?
In 2020, the median household income in Tennessee was $55,260. By 2024 it had risen 26% to $69,901.
What is the Gini coefficient in Tennessee?
The Gini coefficient in Tennessee is 0.542. 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 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Tennessee?
Since 2009, the income gap between men and women in Tennessee has narrowed from about 23% to 19% in 2024. Over that period the gap was narrowest at 19% in 2017. In dollar terms, the gap has widened by $2,424 since 2009.
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