Per Capita Personal Income, BEA, released yesterday:
Fulton County (Atlanta): $74,095
St. Louis County (St. Louis): $62,777
Henrico County (Richmond): $58,876
Travis County (Austin): $58,700
Wake County (Raleigh): $54,063
Cuyahoga County (Cleveland): $50,023
Jefferson County (Birmingham):$49,386
Davidson County (Nashville): $48,283
Marion County (Indianapolis): $48,253
Hamilton County (Chattanooga): $48,053
Pulaski County (Little Rock): $47,834
Jefferson County (New Orleans): $47,591
Oklahoma County (Oklahoma City): $47,583
Jefferson County (Louisville): $47,361
Shelby County (Memphis): $46,234
Knox County (Knoxville): $46,305
Duval County (Jacksonville): $42,574
Orange County (Orlando): $41,515
Wayne County (Detroit): $40,110
Here is the Shelby County narrative from BEA:
Personal Income for Shelby
Shelby is one of 95 counties in Tennessee. It is part of the Memphis, TN-MS-ARÂ Metropolitan Statistical Area. Its 2016 population of 934,603 ranked 1st in the state.
Per Capita Personal Income
In 2016, Shelby had a per capita personal income (PCPI) of $46,234. This PCPI ranked 6th in the state and was 107 percent of the state average, $43,326, and 94 percent of the national average, $49,246.
The 2016 PCPI reflected an increase of 2.8 percent from 2015. The 2015-2016 state change was 2.8 percent and the national change was 1.6 percent. In 2006, the PCPI of Shelby was $38,710 and ranked 3rd in the state. The 2006-2016 compound annual growth rate of PCPI was 1.8 percent. The compound annual growth rate for the state was 2.8 percent and for the nation was 2.6 percent.
Per Capita Personal Income, 2016
Personal Income
In 2016, Shelby had a personal income of $43,210,184*. This personal income ranked 1st in the state and accounted for 15.0 percent of the state total. In 2006, the personal income of Shelby was $35,616,975* and ranked 1st in the state.
*Personal income estimates are in thousands of dollars, not adjusted for inflation.
| 2015-2016 percent change | 2006-2016 CAGR | |
|---|---|---|
| Shelby | 2.6 % | 2.0 % |
| Tennessee | 3.7 % | 3.7 % |
| U.S. | 2.3 % | 3.4 % |
| CAGR: compound annual growth rate | ||
Components of Personal Income
Personal income includes net earnings by place of residence; dividends, interest, and rent; and personal current transfer receipts received by the residents of Shelby.
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While Shelby County’s per capita income is certainly nothing to crow about, I’m actually surprised that it is as good as it is. Our county’s income distribution is like a 3rd world country – we have a relatively small group of people doing pretty well and a lot of people with little or no income. This adds further emphasis to the need to raise up our lowest income folks – that would make the greatest difference in raising our collective per capita income.
I think that income indicates that we are not a super-rich county, but there is plenty of income per capita. Plus, the overall, personal income is good for Tennessee. It is a reminder that our low-wage strategy for economic growth is, sadly, a distributional issue, not a level of income issue. Memphis does OK, not great, but OK. Our problem is the bottom half of the population does not do well.
I’d say about 70+% of locals are really struggling. Income disparity in Memphis is huge. Poverty permeates everything. Memphis is like a Third World country.
I agree with first two commenters. I was expecting it to be much worse. When you factor in cost of living, you can live a really good life in Memphis on $50K.
The jobs strategy embraced by Memphis leaders is based on low paying distribution warehouse jobs and it continues to badly hurt the city, county and region. We will never overcome the huge disparity between the poverty/stricken majority and a upper bracket that makes only average salaries. No question that this disparity fuels much of the city’s high crime and never-ending racial tensions.
Great data. Thanks!
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