by Kristen Carney
Updated: December 17, 2024
The richest county in Tennessee is Williamson County with an average household income of $177,673 as of 2023 and 264,460 people as of 2023 according to the most current Census data available (citation).
Rank | County | Population | Average Income | Median Income |
---|---|---|---|---|
1 | Williamson County | 264,460 | $177,673 | $131,202 |
2 | Wilson County | 163,674 | $120,719 | $94,048 |
3 | Davidson County | 712,334 | $110,098 | $75,664 |
4 | Sumner County | 207,994 | $108,835 | $86,005 |
5 | Fayette County | 44,175 | $105,471 | $84,764 |
6 | Hamilton County | 379,864 | $103,813 | $72,568 |
7 | Loudon County | 60,591 | $101,958 | $80,296 |
8 | Rutherford County | 367,101 | $101,352 | $82,588 |
9 | Knox County | 500,669 | $101,286 | $71,662 |
10 | Cheatham County | 42,254 | $97,824 | $82,015 |
11 | Blount County | 141,456 | $95,542 | $74,607 |
12 | Robertson County | 76,776 | $95,255 | $78,439 |
13 | Shelby County | 910,042 | $93,795 | $62,337 |
14 | Dickson County | 56,729 | $93,410 | $73,223 |
15 | Maury County | 110,760 | $92,848 | $74,162 |
16 | Marshall County | 36,961 | $92,668 | $70,829 |
17 | Moore County | 6,748 | $89,343 | $66,687 |
18 | Dyer County | 36,498 | $89,280 | $54,973 |
19 | Montgomery County | 239,872 | $88,167 | $72,365 |
20 | Jefferson County | 57,838 | $87,614 | $63,084 |
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:
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.
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.
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.
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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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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