Mon
Feb 6 2006
09:57 am

The Knoxville News Sentinel had an interesting article in yesterday's paper about Knoxville's top 20 "wealthiest" zip codes. Naturally, 37922/Farragut topped the list. The article is here. There is a summary here and a nifty interactive map here. (Registration required for all.)

Sadly, South Knoxville/37920 did not make the top 20 list. So how does it compare? Here are selected Knoxville News Sentinel's data on 37922:

  • 50,816 total population
  • 18,361 total households
  • $87,438 median annual household income
  • 182.8% of the national median income of $47,837
  • 58.24% household income is $75,000+
  • 19.26% houdehold income is $150,000+
  • $199,975 is the median home value

Similar data for 37920 (source here):

  • 39,516 total population
  • 17,093 total households
  • $35,080 median household annual income
  • 70.5% of national median annual income of $49,747
  • 34.4% of household income is $50,000+
  • 9.5% of household income is $100,000+
  • $125,615 is the average home value (ed. note: this sounds high to me)

Update: data for 37922 from same source for apples-to-apples:

  • 51,031 total population
  • 18,646 total households
  • $85,124 median household annual income
  • 171.1% of national median annual income of $49,747
  • 75.7% of household income is $50,000+
  • 41.2% of household income is $100,000+
  • $251,121 is the average home value

I guess this is why national retailers are flocking to Turkey Creek and not Chapman Highway. Except Wal*Mart, of course. Depending on your point of view, maybe that's a good thing?

Andy Axel's picture

Skewed stats...

The 37920 home value figure should look wrong. It's an average, not a median. It will look higher because a few big numbers can skew the average. Also, the household income brackets are skewed down in '20 compared to '22. If you used the same stats for both, you'd probably see some more interesting results.

____________________________

If we heard mortar shells, we'd cuss more in our songs and cut down on guitar solos
R. Neal's picture

Yeah, but then I'd have to

Yeah, but then I'd have to pay for the data like they did (or more likely know somebody who paid for it).

I'm guessing the "median" home price is somewhere closer to the $80K mark.

Andy Axel's picture

I'm guessing the "median"

I'm guessing the "median" home price is somewhere closer to the $80K mark.

I'm sure a realtor would be able to tell you the median home price by zip code fairly quickly.

____________________________

If we heard mortar shells, we'd cuss more in our songs and cut down on guitar solos
edens's picture

Not exactly shocking news.

Not exactly shocking news. 37919, of course, is the only zipcode in the wealthiest 20 to come within even a long par-four (to put it in terms people in the top 20 'hoods would be familiar with) of downtown. I'd be curious to see what the stats for 37917, by comparison, has median income of $27K and home value of $84K. In other words, the "gentrification" of 4th and Gill/Old North, etc. is essentially a drop in the bucket in the greater scheme of things. The numbers downtown, 37902, are $11K and $180K (remember, Summit Towers still accounts for approx 50% of downtown households) As for South Knoxville - looks like most of the money has migrated over the county line to 37865.
Tish's picture

Perhaps I have

Perhaps I have misinterpreted your point, but as a resident of South Knoxville, I took a bit of offense to this post.  "Sadly, South Knoxville/37920 did make the top 20 list." 

I agree that the $125,615 sounds more like an average than a median.  I'd guess the median around $85,000. 

Many of the South Knoxville residents, me included, choose to live here for reasons other than the cost of living as compared to other areas of Knoxville.  The hustle and bustle of West Knoxville is not at all appealing to me.  South Knoxville doesn't suffer from the congestion and hurriedness that afflicts the West Knox region. 

When it comes to shopping, many of us South Knoxvillians are making the drive to West Knoxville, and not just settling for Wal-Mart.  So be thankful that our hard earned dollars (which in many cases are well above $35,000 annually) are generating revenue for your Turkey Creek establishments!

R. Neal's picture

Sorry, that was supposed to

Sorry, that was supposed to say "Sadly, South Knox did NOT make the list."
bizgrrl's picture

I thought the point was that

I thought the point was that national retailers are not flocking to South Knox because South Knoxvillians do not meet their demographic. I do not think this is a bad thing for South Knox or South Knoxvillians. It might be a bad thing for those trying to change South Knoxville though.

The times I have lived in the Knoxville area have always been South of the River. Some of us born and raised South of the River also choose to live South of the River.

In a true South Knoxvillian manner, there is nothing to defend or apologize for or take offense from. South Knoxville is a stepchild and we are proud of it.

When asked where are you from or where do you live, the answer is South Knoxville, not Knoxville.

Opinari's picture

Pride of the South Knoxvillian

"When asked where are you from or where do you live, the answer is South Knoxville, not Knoxville."

Even here in Texas, when someone asks me where I am from, I always say "South Knoxville". Heh.

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