1st Advantage MortgageAbout 48% of Lake County homes are owner-occupied, and the median household income is $28,814. County medians do not set your terms. Shop at least three lenders, including a credit union serving Lake County, and confirm each one's Tennessee license.
On this page
- Getting oriented in Lake County
- Work, industries and travel time in Lake County
- Earnings across Lake County households
- Lake County against other Tennessee counties
- Renting and owning in Lake County
- Towns and communities in Lake County
- Counties near Lake County
- Before borrowing in Lake County
- A Lake County household budget, worked through
- Age, degrees and coverage in Lake County
- Before you sign
- Who licenses lenders for Lake County residents
- More guides for Lake County
- Frequently asked questions
Getting oriented in Lake County
With an estimated 6,579 residents (ACS 2020 to 2024), Lake County ranks 93rd of 95 in Tennessee for population. Its 166 square miles average 40 people per square mile, by the 2024 Census Gazetteer. Lake County is classed as nonmetropolitan in the OMB's July 2023 list. Largest place: Tiptonville, about 3,572 residents (54% of Lake County); 3 Census places in all. At 6,579 people, Lake County is a small survey sample, so small differences in these figures may be noise.
Work, industries and travel time in Lake County
Education and health care employs 29% of working residents, the largest share; manufacturing is next with 13%. Public administration stands out: 12% of workers here, versus 4% statewide. The survey's unemployment rate for Lake County averages 4.9% over 2020 to 2024 (state: 4.7%). Commutes of 45 minutes-plus: 15%; under 15 minutes: 45%.
| Sector | Lake County | Compared with Tennessee |
|---|---|---|
| Education and health care | 28.9% | +6.5 pts |
| Manufacturing | 12.9% | +0.4 pts |
| Public administration | 11.7% | +7.5 pts |
| Retail trade | 11.5% | 0.0 pts |
| Arts, lodging and food service | 11.1% | +2.2 pts |
| Construction | 5.8% | -1.3 pts |
Seasonal work is common in many Lake County industries; if that is you, show a full year of income rather than one strong month.
Earnings across Lake County households
The median household income in Lake County is $28,814; statewide it is $69,595, so Lake County runs 59% below Tennessee as a whole. Only 94 Tennessee counties post a higher median.
| Households earning | Lake County | +/- vs Tennessee |
|---|---|---|
| Under $35,000 | 56.7% | +32.6 pts |
| $35,000 to $99,999 | 28.0% | -14.4 pts |
| $100,000 to $199,999 | 13.2% | -11.4 pts |
| $200,000 or more | 2.1% | -6.8 pts |
Some 57% of households here live on less than $35,000 a year; 15% have six-figure incomes. Census counts 32.2% of Lake County residents in poverty, against 13.8% across Tennessee. For a borrower in Lake County, the county median is only context: a lender looks at the income you can document, so pay stubs, benefit letters or tax returns matter more than any average.
Lake County against other Tennessee counties
Out of every Tennessee county, Lake County is most unusual on these measures.
- Lake County ranks the lowest of 95 Tennessee counties for median household income: $28,814, against $69,595 statewide. Where incomes run low, free assistance and credit-union small-dollar loans deserve a look first.
- The share of adults with a bachelor's degree: 9% in Lake County, the lowest of 95 in Tennessee. Lenders weigh income and credit, not schooling.
- Few Tennessee counties match Lake County on median home value: $97,900 here, $286,700 for the state, ranking the lowest of 95. With modest home values, equity borrowing is rarely large.
- On the uninsured rate, Lake County sits near the top of Tennessee at 15.3%, 2nd highest of 95. Ask any provider about financial assistance before borrowing for care.
Renting and owning in Lake County
Renters in Lake County pay a median of $532 a month, 55% below the Tennessee figure of $1,189. Rent takes 30% or more of income for 43% of renter households here. The median owner-occupied home is valued at $97,900, about 3.4 times the median household income. In Lake County, 48% of occupied homes are owned by the people living in them. Median construction year: 1975.
| Cost | Lake County | Tennessee figure | Higher or lower |
|---|---|---|---|
| Owners | 48% | 67% | -19.2 pts |
| Median home value | $97,900 | $286,700 | 66% lower |
| Rent-burdened renters | 43% | 49% | -5.6 pts |
| Median gross rent | $532/mo | $1,189/mo | 55% lower |
| Burdened owners | 22% | 25% | -3.0 pts |
| Mobile homes | 7.9% | 8.1% | -0.2 pts |
For the many renters in Lake County, deposits, moving costs and card balances are typical reasons to borrow. Keep the amount small and the term short.
Towns and communities in Lake County
Here are the 3 most populous of the county's 3 Census places, with income and rent from the same 2020 to 2024 survey. About 82% of Lake County residents live in one of the 3. None of the 3 has its own city guide, so this page covers all of them.
| Town or CDP | Type | People | Median household income | Median gross rent | Miles from center |
|---|---|---|---|---|---|
| Tiptonville | town | 3,572 | $23,027 | $510 | 3 mi |
| Ridgely | town | 1,796 | $24,390 | $560 | 5 mi |
| Wynnburg | CDP | 16 | n/a | n/a | 1 mi |
CDPs are unincorporated communities the Census Bureau defines for counting.
Counties near Lake County
Six nearby counties, 19 to 34 miles away by the straight-line distance between their centers. All of the six report a higher median household income than Lake County; Dyer County is highest at $58,154 and Fulton County lowest at $38,217. Some neighbors are in Kentucky and Missouri. Lender licensing is state by state, so a loan for a Lake County resident follows Tennessee rules.
| County | Miles | Median household income | Median rent | Homeownership |
|---|---|---|---|---|
| Lake County | - | $28,814 | $532/mo | 48% |
| Pemiscot County, MO | 19 mi | $40,089 | $695/mo | 56% |
| Obion County, TN | 19 mi | $54,613 | $770/mo | 68% |
| Dyer County, TN | 20 mi | $58,154 | $782/mo | 62% |
| New Madrid County, MO | 20 mi | $51,881 | $729/mo | 64% |
| Fulton County, KY | 22 mi | $38,217 | $570/mo | 62% |
| Dunklin County, MO | 34 mi | $47,849 | $648/mo | 62% |
Before borrowing in Lake County
Based on the Lake County data above, these borrowing questions are most likely to matter locally.
- Medical bills. 15% of Lake County residents are uninsured. Before borrowing for care, ask the provider about financial assistance and payment plans.
- Lower-cost alternatives. In a county with 32% in poverty, nonprofit credit counseling may beat a loan (options).
- Advance-fee offers. No legitimate lender asks a Lake County borrower to pay first (scam signs).
A Lake County household budget, worked through
Lake County's $28,814 median income, run through a debt-to-income check:
- Median income divided by twelve: $2,401 before taxes
- Less median rent of $532, which is 22% of it
- Under a 36% cap, $864 total minus rent leaves $332
- 43% debt-to-income limit: $501 left for all other debt payments
Lenders set their own limits and look beyond the ratio. The DTI calculator uses your figures instead of Lake County's.
Age, degrees and coverage in Lake County
College graduates make up 9% of the adult population. Uninsured, Lake County: 15.3%; Tennessee: 10.0%.
| Measure | Lake County | Gap to Tennessee | Gap to typical U.S. county |
|---|---|---|---|
| Bachelor's or higher | 9.4% | -21.6 pts | -12.7 pts |
| Poverty rate | 32.2% | +18.4 pts | +19.0 pts |
| No high school diploma | 27.0% | +17.0 pts | n/a |
| No vehicle | 18.3% | +13.1 pts | +12.9 pts |
| Work from home | 2.7% | -10.1 pts | -5.9 pts |
| No health insurance | 15.3% | +5.3 pts | +7.5 pts |
| Median age | 42.8 | +3.9 yrs | +1.3 yrs |
| Unemployment (ACS) | 4.9% | +0.2 pts | +0.5 pts |
| Commute length | Lake County |
|---|---|
| Under 15 min | 44.9% |
| 15 to 29 min | 16.2% |
| 30 to 44 min | 23.5% |
| 45 to 59 min | 12.1% |
| 60+ min | 3.2% |
Before you sign
A short checklist for Lake County borrowers:
- Price the Lake County expense first and borrow that amount, no more.
- Prequalify with soft pulls where offered, then compare in writing.
- A Tennessee license check takes minutes; do it first.
- Lock paid-off cards after consolidating so balances stay at zero.
Who licenses lenders for Lake County residents
Licensing happens at the state level, so a lender working with Lake County borrowers answers to the Tennessee Department of Financial Institutions. Banks and credit unions have their own regulators, and the CFPB takes complaints about any lender. The Tennessee page has statewide figures to set beside Lake County's.
More guides for Lake County
The Tennessee guide covers the whole state.
Frequently asked questions
Where does Lake County rank on income in Tennessee?
95th of 95, with a median of $28,814. The state median is $69,595.
How does Lake County rent compare with Tennessee?
$532 locally versus $1,189 for the state, 55% below.
I live near Tiptonville. Which guide is mine?
This one. Tiptonville and the rest of Lake County have no separate city guide.
Are Lake County applicants treated differently?
No. Everyone answers the same questions and is screened on the same objective points; lending partners set their own criteria under fair-lending laws.
How do I know a lender is legitimate in Lake County?
Look it up with the Tennessee Department of Financial Institutions, read the written offer, and refuse any fee before funding.