Wealth Index
Among the top 3 wealthiest counties in Alabama
The wealth index reflects the overall economic prosperity and financial well-being of a county's residents based on income levels, employment rates, and income inequality metrics.
Income Statistics Overview
| Metric | Baldwin County | Alabama Avg | US Average |
|---|---|---|---|
| Median Household Income | $75,019 | $62,318 | $78,145 |
| Median Personal Income | $58,055 | $53,379 | $61,726 |
| Average income growth | 5.5% | 4.8% | 5.1% |
| Six-Figure Earners | 11.4% | 9.0% | 13.2% |
The median household income in Baldwin County is about 20% higher than in Alabama. Income has been growing faster in Baldwin County (5.5%/yr) than in Alabama (4.8%/yr).
About 11% of adults in Baldwin County earn six figures ($100,000 or more) a year, higher than the Alabama average of 9%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Baldwin County, Alabama grew by 53.3% from 2009 to 2023, reaching $75,019 in 2023. That's an average of about 5.5% per year.
Economic Inequality in Baldwin County | Gender Pay Gap | Gini Coefficient
| Metric | Baldwin County | Alabama Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.553 | 0.572 | 0.570 |
| Male Median Income | $66,847 | $61,248 | $67,746 |
| Female Median Income | $47,231 | $45,616 | $54,793 |
| Gender Pay Gap | 29.3% | 25.5% | 19.1% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Baldwin County, it is 0.553, lower than Alabama's 0.572, so income is more evenly distributed here than there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 42% more than women's income in Baldwin County, Alabama. Over a 35-year career, a 42% wage gap accumulates to roughly $686,560 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Baldwin County, Alabama has narrowed from about 30% to 29% in 2023. In dollar terms, the gap has widened by $6,216 since 2009.
Employment
| Metric | Baldwin County | Alabama Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.2% | 4.8% | 5.2% |
| Working from Home | 10.0% | 7.8% | 13.4% |
| Commute time (minutes) | 22 | 22 | 22 |
Approximately 3,615 people are unemployed in Baldwin County, Alabama.
The average commute time in Baldwin County is 22 minutes, about the same as in Alabama.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Baldwin County, Alabama has fallen from 7.6% to 3.2% in 2023.
Conclusion
Considering all these factors, Baldwin County, Alabama has an overall wealth index grade of B, making it somewhat better than Alabama, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Baldwin County, Alabama.
How Rich Is Baldwin County, Alabama?
Baldwin County has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $75,019, about 20% higher than the Alabama average of $62,318.
What is the current median household income in Baldwin County, Alabama?
As of 2023, the median household income in Baldwin County, Alabama is $75,019.
What was the median household income in Baldwin County in 2023?
In 2023, the median household income in Baldwin County, Alabama was $75,019.
What was the median household income in Baldwin County in 2020?
In 2020, the median household income in Baldwin County, Alabama was $61,757.
What is the Gini coefficient in Baldwin County, Alabama?
The Gini coefficient in Baldwin County is 0.553. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.570, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Baldwin County, Alabama?
Since 2009, the income gap between men and women in Baldwin County, Alabama has narrowed from about 30% to 29% in 2023. In dollar terms, the gap has widened by $6,216 since 2009.