Wealth Index
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 | Coosa County | Alabama Avg | US Average |
|---|---|---|---|
| Median Household Income | $57,082 | $62,318 | $78,145 |
| Median Personal Income | $39,140 | $53,379 | $61,726 |
| Average income growth | 8.4% | 4.8% | 5.1% |
| Six-Figure Earners | 6.4% | 9.0% | 13.2% |
The median household income in Coosa County is about 8% lower than in Alabama. Income has been growing faster in Coosa County (8.4%/yr) than in Alabama (4.8%/yr).
About 6% of adults in Coosa County earn six figures ($100,000 or more) a year, lower than the Alabama average of 9%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Coosa County, Alabama grew by 69.1% from 2009 to 2023, reaching $57,082 in 2023. That's an average of about 8.4% per year.
Economic Inequality in Coosa County | Gender Pay Gap | Gini Coefficient
| Metric | Coosa County | Alabama Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.532 | 0.572 | 0.570 |
| Male Median Income | $55,282 | $61,248 | $67,746 |
| Female Median Income | $29,941 | $45,616 | $54,793 |
| Gender Pay Gap | 45.8% | 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 Coosa County, it is 0.532, 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 85% more than women's income in Coosa County, Alabama. Over a 35-year career, a 85% wage gap accumulates to roughly $886,935 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Coosa County, Alabama has widened from about 30% to 46% in 2023. In dollar terms, the gap has widened by $13,991 since 2009.
Employment
| Metric | Coosa County | Alabama Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.0% | 4.8% | 5.2% |
| Working from Home | 9.3% | 7.8% | 13.4% |
| Commute time (minutes) | 23 | 22 | 22 |
Approximately 208 people are unemployed in Coosa County, Alabama.
The average commute time in Coosa County is 23 minutes, longer than the 22 minutes in Alabama.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Coosa County, Alabama has fallen from 13.8% to 5.0% in 2023.
Conclusion
Considering all these factors, Coosa County, Alabama has an overall wealth index grade of D, making it about on par with Alabama, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Coosa County, Alabama.
How Rich Is Coosa County, Alabama?
Coosa County has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $57,082, about 8% lower than the Alabama average of $62,318.
What is the current median household income in Coosa County, Alabama?
As of 2023, the median household income in Coosa County, Alabama is $57,082.
What was the median household income in Coosa County in 2023?
In 2023, the median household income in Coosa County, Alabama was $57,082.
What was the median household income in Coosa County in 2020?
In 2020, the median household income in Coosa County, Alabama was $43,206.
What is the Gini coefficient in Coosa County, Alabama?
The Gini coefficient in Coosa County is 0.532. 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 Coosa County, Alabama?
Since 2009, the income gap between men and women in Coosa County, Alabama has widened from about 30% to 46% in 2023. In dollar terms, the gap has widened by $13,991 since 2009.