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 | Enterprise | Alabama Avg | US Average |
|---|---|---|---|
| Median Household Income | $67,108 | $62,318 | $78,145 |
| Median Personal Income | $55,304 | $53,379 | $61,726 |
| Average income growth | 3.9% | 4.8% | 5.1% |
| Six-Figure Earners | 9.7% | 9.0% | 13.2% |
The median household income in Enterprise is about 8% higher than in Alabama. Income has been growing slower in Enterprise (3.9%/yr) than in Alabama (4.8%/yr).
About 10% of adults in Enterprise 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 Enterprise, Alabama grew by 50.0% from 2009 to 2023, reaching $67,108 in 2023. That's an average of about 3.9% per year.
Economic Inequality in Enterprise | Gender Pay Gap | Gini Coefficient
| Metric | Enterprise | Alabama Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.569 | 0.572 | 0.570 |
| Male Median Income | $65,709 | $61,248 | $67,746 |
| Female Median Income | $42,209 | $45,616 | $54,793 |
| Gender Pay Gap | 35.8% | 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 Enterprise, it is 0.569, about the same as Alabama's 0.572, so income here is about as evenly distributed as there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 56% more than women's income in Enterprise, Alabama. Over a 35-year career, a 56% wage gap accumulates to roughly $822,500 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Enterprise, Alabama has widened from about 29% to 36% in 2023. In dollar terms, the gap has widened by $10,353 since 2009.
Employment
| Metric | Enterprise | Alabama Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.4% | 4.8% | 5.2% |
| Working from Home | 4.1% | 7.8% | 13.4% |
| Commute time (minutes) | 17 | 22 | 22 |
Approximately 454 people are unemployed in Enterprise, Alabama.
The average commute time in Enterprise is 17 minutes, shorter than the 22 minutes in Alabama.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Enterprise, Alabama has fallen from 6.6% to 4.4% in 2023.
Conclusion
Considering all these factors, Enterprise, Alabama has an overall wealth index grade of C, making it somewhat better than Alabama, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Enterprise, Alabama.
How Wealthy Is Enterprise, Alabama?
Enterprise has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $67,108, about 8% higher than the Alabama average of $62,318.
What is the current median household income in Enterprise, Alabama?
As of 2023, the median household income in Enterprise, Alabama is $67,108.
What was the median household income in Enterprise in 2023?
In 2023, the median household income in Enterprise, Alabama was $67,108.
What was the median household income in Enterprise in 2020?
In 2020, the median household income in Enterprise, Alabama was $59,468.
What is the Gini coefficient in Enterprise, Alabama?
The Gini coefficient in Enterprise is 0.569. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Enterprise, Alabama?
Since 2009, the income gap between men and women in Enterprise, Alabama has widened from about 29% to 36% in 2023. In dollar terms, the gap has widened by $10,353 since 2009.