by Kristen Carney
Updated: June 20, 2024
The richest county in Tennessee is Williamson County with an average household income of $169,404 as of 2022 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 | $169,404 | $125,943 |
2 | Wilson County | 163,674 | $114,341 | $89,462 |
3 | Davidson County | 712,334 | $105,799 | $71,863 |
4 | Sumner County | 207,994 | $104,078 | $81,883 |
5 | Fayette County | 44,175 | $101,659 | $81,074 |
6 | Hamilton County | 379,864 | $98,703 | $69,069 |
7 | Loudon County | 60,591 | $96,654 | $75,008 |
8 | Rutherford County | 367,101 | $95,579 | $78,291 |
9 | Knox County | 500,669 | $95,220 | $68,580 |
10 | Dyer County | 36,498 | $92,632 | $53,150 |
11 | Robertson County | 76,776 | $92,227 | $74,440 |
12 | Cheatham County | 42,254 | $92,149 | $77,014 |
13 | Shelby County | 910,042 | $90,500 | $59,621 |
14 | Maury County | 110,760 | $89,976 | $71,500 |
15 | Blount County | 141,456 | $89,542 | $70,935 |
16 | Roane County | 56,096 | $87,984 | $66,460 |
17 | Dickson County | 56,729 | $86,922 | $68,492 |
18 | Moore County | 6,748 | $86,601 | $69,250 |
19 | Tipton County | 62,015 | $85,338 | $70,674 |
20 | Washington County | 138,420 | $83,142 | $58,507 |
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.
Join thousands of subscribers and receive just 1 (ONE!) email a year in December when the US Census Bureau releases new income data for Tennessee richest counties.
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, 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 7 December 2023. http://www.census.gov/.
United States Census Bureau. B19013 Median Household Income, 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 7 December 2023. http://www.census.gov/.
United States Census Bureau. “DP03 SELECTED ECONOMIC CHARACTERISTICS.” 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 07 December 2023. http://www.census.gov/.
© Copyright 2024 Cubit Planning, Inc.