Brentwood, Arlington, Nolensville: These cities aren’t just some of the best places to live in Tennessee. They are also home to some of the richest people in the Volunteer State.
Brentwood in particular houses the richest residents in the state thanks, in part, to a median household income of $148,340 and a ridiculously low poverty rate of 2.8%.
If you’re thinking of moving to one of these towns, you’ll probably need to start saving. The richest places in Tennessee share common characteristics such as having a genius level populous, sky high home prices, and a Pleasantville level of married couples.
How did we come up with these mega wealthy cities? We analyzed Census data from the 2012-2016 American Community Survey for the 97 places in Tennessee with more than 5,000 people.
At the end of the day, here’s the set of the 10 richest places in Tennessee for 2018:
- Brentwood (Photos | Homes For Sale)
- Arlington (Photos | Homes For Sale)
- Nolensville (Photos | Homes For Sale)
- Lakeland (Photos | Homes For Sale)
- Germantown (Photos | Homes For Sale)
- Collierville (Photos | Homes For Sale)
- Signal Mountain (Photos | Homes For Sale)
- Spring Hill (Photos | Homes For Sale)
- Farragut (Photos | Homes For Sale)
- Atoka (Photos | Homes For Sale)
For more on how we calculated the top ten, read on or skip to the end for the full list of the richest cities in Tennessee.
How We Determined The Richest Places In Tennessee For 2018
The first thing that comes to most people’s minds when they think about determining the richest places is to simply identify personal incomes. After all, rich people have really high salaries.
However, we don’t believe that one statistic wholly encompasses what it means to be one of the ‘richest places’. So we looked at this set of criteria from the newly released 2012-2016 American Community Survey:
- Poverty Level
- Median Household Income
- Unemployment Rate
Median household income is the most digestible way to understand how rich a place really is. The unemployment rate tries to capture the prospects for more people to become rich. If more people are employed, the richer the future looks.
After we collected the data for all 97 places with more than 5,000 people in Tennessee, we ranked each place from 1 to 97 for each of the criteria, with 1 being the richest.
We then averaged all the rankings for a place into a ‘Rich Score’ with the place having the lowest overall Rich Score, Brentwood, crowned the ‘Richest Place In Tennessee For 2018’.
You can learn more about the top ten below or skip to the end to see the rankings for all 97 places.
Population: 40,873Median Income: $148,340
Unemployment Rate: 2.8%
Poverty Rate: 2.8%
More on Brentwood: Homes For Sale | Data
Brentwood is a suburb of Nashville, Tennessee; located in Williamson County, it is known for its rolling hills as well as being one of the wealthiest cities in America relative to average cost of living. The population was 37,060 as of the 2010 U.S. Census, and estimated at 40,982 in 2014.
Population: 11,599Median Income: $96,363
Unemployment Rate: 1.4%
Poverty Rate: 1.7%
More on Arlington: Homes For Sale | Data
Arlington is a town in Shelby County, Tennessee. The population was 2,569 at the 2000 census and 11,517 at the 2010 census, for a gain of 348.3% during the decade. The 2010 US Census shows that Arlington is the 2nd fastest growing community in the State of Tennessee. It is one of seven municipalities in Shelby County.
Population: 6,724Median Income: $110,087
Unemployment Rate: 3.0%
Poverty Rate: 5.9%
More on Nolensville: Homes For Sale | Data
Nolensville is a town in Williamson County, Tennessee. The population was 5,861 at the 2010 census.
Population: 12,541Median Income: $100,321
Unemployment Rate: 3.4%
Poverty Rate: 3.8%
More on Lakeland: Homes For Sale | Data
Lakeland is a city in Shelby County, Tennessee, and a suburb of Memphis. The population was 12,430 at the 2010 census.
Population: 39,213Median Income: $107,376
Unemployment Rate: 3.7%
Poverty Rate: 4.4%
More on Germantown: Homes For Sale | Data
Germantown is a city in Shelby County, Tennessee, United States. The population was 38,844 at the 2010 census.
Population: 48,005Median Income: $110,591
Unemployment Rate: 3.8%
Poverty Rate: 5.4%
More on Collierville: Homes For Sale | Data
Collierville is a town in Shelby County, Tennessee, United States, and a suburb located in the Memphis metropolitan area. The town had a population of 43,965 at the 2010 census.
7. Signal Mountain
Population: 8,500Median Income: $98,665
Unemployment Rate: 4.3%
Poverty Rate: 1.4%
More on Signal Mountain: Homes For Sale | Data
Signal Mountain is a town in Hamilton County, Tennessee, United States. The town is a suburb of Chattanooga and is located on Walden Ridge, a land mass often mistakenly referred to as ‘Signal Mountain’ itself. Signal Mountain is also used as a colloquial name for part of the Walden Ridge close to the town. The town population was 7,554 as of the 2010 census. The population for zip code 37377 was 15,310 as of the 2010 census.
8. Spring Hill
Population: 34,364Median Income: $78,525
Unemployment Rate: 3.6%
Poverty Rate: 3.5%
More on Spring Hill: Homes For Sale | Data
Spring Hill is a city in Maury and Williamson counties, Tennessee, located approximately 30 miles (48 km) south of Nashville. Spring Hill’s population as of 2014 was 34,269.
Population: 21,690Median Income: $109,171
Unemployment Rate: 4.6%
Poverty Rate: 4.1%
More on Farragut: Homes For Sale | Data
Farragut is a town which straddles both Knox and Loudon counties in Tennessee and is a suburb of Knoxville. The town’s population was 20,676 at the 2010 census. It is included in the Knoxville Metropolitan Area. The town is named in honor of American Civil War Admiral David Farragut, who was born just east of Farragut at Campbell’s Station in 1801.
Population: 8,917Median Income: $87,047
Unemployment Rate: 4.3%
Poverty Rate: 5.9%
More on Atoka: Homes For Sale | Data
Atoka /.to.k/ is a town in Tipton County, Tennessee, United States. Historians and genealogists can trace Atoka’s origins back to the 1838 charter of Portersville. Atoka adopted Portersville’s charter as its own. World War I Medal of Honor recipient Sgt. Joseph B. Adkison lived in Atoka, and he is buried nearby.
There You Have It – The Wealthiest Places In Tennessee For 2018
Like we said earlier, when we set out to identify the richest places in Tennessee, we weren’t sure what we’d encounter, but it ended up being some of the best places to live in Tennessee.
When you look at the data, the cities and places mentioned above meet the criteria for being at the very top of the income ladder for everyone that lives there.
If you’re curious enough, here are the poorest cities in Tennessee, according to data:
2nd Poorest: Savannah
3rd Poorest: Ripley
For more Tennessee reading , check out:
Detailed List Of The Richest Cities In Tennessee