Richest Cities in Tennessee (2025)

by Kristen Carney Kristen Carney

Updated: December 17, 2024

Richest City in Tennessee

The richest city in Tennessee is Petros in Morgan County with an average household income of $312,188 as of 2023. While exceptionally affluent, Petros only has a population of 269 as of 2023. The richest city in Tennessee with at least 5,000 people is Brentwood in Williamson County with an average household income of $261,248 as of 2023 and 45,265 people as of 2023 according to the most current Census data available (citation).

Download the newest population data for Tennessee cities

Save 40+ hours of searching for data in the deep, dark internet rabbit hole, and get the most current Census income data for all Tennessee cities. Sort your Excel file from the most affluent cities to the least affluent cities in Tennessee with 2 mouse clicks. Download the sample below.

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20 Richest Cities in Tennessee

Rank City County Population Average Income Median Income
1 Petros Morgan 269 $312,188 -$1
2 Lookout Mountain Hamilton 2,053 $305,525 $195,063
3 Taft Lincoln 305 $266,049 -$1
4 Brentwood Williamson 45,265 $261,248 $184,720
5 Signal Mountain Hamilton 8,916 $204,362 $139,714
6 Ridgeside Hamilton 447 $203,822 $177,500
7 Piperton Fayette 2,689 $196,359 $125,982
8 Walden Hamilton 1,979 $191,122 $135,000
9 Germantown Shelby 40,267 $190,980 $144,799
10 Farragut Knox 25,579 $190,140 $142,402
11 Nolensville Williamson 15,437 $179,578 $170,068
12 Collierville Shelby 51,317 $177,371 $134,319
13 Flat Top Mountain Hamilton 1,052 $169,640 $118,766
14 Shackle Island Sumner 4,164 $162,858 $131,944
15 Fairmount Hamilton 1,932 $161,342 $133,232
16 Thompson's Station Williamson 8,580 $157,580 $122,139
17 Apison Hamilton 4,397 $155,809 $104,741
18 Sewanee Franklin 3,000 $155,125 $128,295
19 Dellrose Lincoln 98 $153,238 -$1
20 Ocoee Polk 210 $150,871 $174,773

Median Income versus Average Income: Which Should You Use?

We usually suggest using median income data – either instead of or in addition to – average income data as a true indicator of wealth. If you haven’t thought about median versus average since your last standardized test, you aren’t alone. Here’s what they are:

  • average is the sum of a set of numbers divided by the count of numbers in the set
  • median is the middle number in the set of numbers
illustation of median vs average

Now let’s say you had the following simplified set of income data.

Household 1: $30,000
Household 2: $50,000
Household 3: $1,000,000

The average income for this set is $360,000. The outlier data point ($1,000,000) skews the average WAY up. Conversely, the average income would be skewed WAY down if someone had an income of $500. The median income for the same data set is $50,000. Outlier data doesn’t skew the median.

Most Business Owners Should Use Median Income

So most business owners should use the median income as a true indicator of wealth, because it provides a more accurate representation of a typical income, especially in areas with significant income disparity.

When Should You Use Average Income

If your target market is high-income households, the average income may be more relevant. This is because the average income can highlight the presence of a higher concentration of wealthy individuals, which is beneficial for luxury goods and services marketing. We’re using average income on this page because using the Census’s highest reported median value of $250,001 could result in multiple ties for the richest geography.

Why do so many cities have a median value of $250,001?

The Census' American Community Survey uses $250,000+ as a jam value for median income estimates to protect privacy, ensure data consistency, and simplify reporting. A "jam value" in survey data refers to a placeholder or default value used when actual data points are unavailable, incomplete, or exceed certain thresholds. We represent this jam value as $250,001 to make it easy for you to sort.

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SOURCES

United States Census Bureau. Annual Estimates of the Resident Population: April 1, 2020 to July 1, 2023. U.S. Census Bureau, Population Division. Web. May 2024. http://www.census.gov/.

United States Census Bureau. B01001 SEX BY AGE, 2023 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 12 December 2024. http://www.census.gov/.

United States Census Bureau. B19013 Median Household Income, 2023 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 12 December 2024. http://www.census.gov/.

United States Census Bureau. “DP03 SELECTED ECONOMIC CHARACTERISTICS.” 2023 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 12 December 2024. http://www.census.gov/.

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