Florence, Alabama Income Statistics
Florence Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
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D
Florence Well below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Florence | Alabama Avg | US Average |
|---|---|---|---|
| Median Household Income | $48,351 | $64,544 | $80,455 |
| Median Personal Income | $41,749 | $52,756 | $60,758 |
| Average Yearly Income Growth | 4.0% | 4.7% | 4.8% |
| Six-Figure Earners | 6.7% | 9.6% | 13.9% |
| $200k+ Households | 3.7% | 7.8% | 13.2% |
The median household income in Florence is about 25% lower than in Alabama. Income has been growing slower in Florence (4.0%/yr) than in Alabama (4.7%/yr).
About 7% of adults in Florence earn six figures ($100,000 or more) a year, lower than the Alabama average of 10%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Florence, Alabama grew by 68.4% from 2009 to 2024, reaching $48,351 in 2024. That's an average of about 4.0% per year.
Florence has been far below the U.S. median household income in every year from 2009 to 2024. Even at its closest, in 2013, its income was 35% lower. The gap has narrowed from 44% in 2009 to 40% in 2024.
Income Distribution in Florence
How incomes are spread across brackets, compared with the U.S. Pick a range to count who falls in it.
Households by income, 2024
Income range calculator
About 2,804 households (19.1% of all households) have an income of $100,000 or more.
Across the U.S.: 40.2% of all households.
In 2024, 37.8% of households in Florence had an income under $35,000 and 9.2% had $150,000 or more. Across the U.S., those shares were 21.6% and 22.8%.
Compared with the U.S., Florence has a larger share of households earning $15,000 to $24,999 (13.7% vs 6.4%) and a smaller share earning $200,000 or more (3.7% vs 13.2%).
| Household income | Households | Share | U.S. share |
|---|---|---|---|
| Under $10,000 | 1,294 | 8.8% | 5.1% |
| $10,000 to $14,999 | 756 | 5.2% | 3.5% |
| $15,000 to $24,999 | 2,004 | 13.7% | 6.4% |
| $25,000 to $34,999 | 1,499 | 10.2% | 6.7% |
| $35,000 to $49,999 | 1,975 | 13.5% | 10.1% |
| $50,000 to $74,999 | 2,435 | 16.6% | 15.5% |
| $75,000 to $99,999 | 1,906 | 13.0% | 12.6% |
| $100,000 to $149,999 | 1,456 | 9.9% | 17.4% |
| $150,000 to $199,999 | 800 | 5.5% | 9.5% |
| $200,000 or more | 548 | 3.7% | 13.2% |
Shares are of all 14,673 households, one per occupied home whatever its size. Households with zero or negative income are counted in the lowest bracket. Source: ACS 5-year estimates ending 2024 (table B19001).
Residents 15+ by personal income, 2024
Income range calculator
About 1,891 residents (6.7% of residents aged 15 and over) have a personal income of $100,000 or more.
Across the U.S.: 13.9% of residents aged 15 and over.
That is 7.5% of residents who have any income.
In 2024, 11.0% of Florence residents aged 15 and over reported no personal income, 38.2% had some income but less than $25,000, and 11.6% had $75,000 or more. Across the U.S., those shares were 12.8%, 28.7% and 22.0%.
Compared with the U.S., Florence has a larger share of residents earning $15,000 to $24,999 (14.4% vs 10.5%) and a smaller share earning $100,000 or more (6.7% vs 13.9%).
| Personal income | Residents | Share | U.S. share |
|---|---|---|---|
| No income | 3,117 | 11.0% | 12.8% |
| $1 to $9,999 | 4,234 | 15.0% | 11.2% |
| $10,000 to $14,999 | 2,491 | 8.8% | 7.0% |
| $15,000 to $24,999 | 4,058 | 14.4% | 10.5% |
| $25,000 to $34,999 | 3,586 | 12.7% | 9.5% |
| $35,000 to $49,999 | 4,246 | 15.0% | 12.6% |
| $50,000 to $74,999 | 3,239 | 11.5% | 14.3% |
| $75,000 to $99,999 | 1,396 | 4.9% | 8.2% |
| $100,000 or more | 1,891 | 6.7% | 13.9% |
Shares are of the 28,258 residents aged 15 and over, the only people the Census Bureau asks about income, and include those who reported none. A share of the whole population would count children as people without income, while a share of earners alone would hide the 11.0% with no income; the calculator adds that second share whenever your range leaves out people with no income. Source: ACS 5-year estimates ending 2024 (table B19325).
Income Inequality and the Gender Pay Gap in Florence
| Metric | Florence | Alabama Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.543 | 0.560 | 0.552 |
| Male Median Income | $50,146 | $62,840 | $69,667 |
| Female Median Income | $40,703 | $47,036 | $56,850 |
| Gender Pay Gap | 18.8% | 25.1% | 18.4% |
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 Florence, it is 0.543, lower than Alabama's 0.560, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 23% more than women's income in Florence, Alabama. Over a 35-year career, a 23% wage gap accumulates to roughly $330,505 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Florence, Alabama has narrowed from about 31% to 19% in 2024. Over that period the gap was narrowest at 17% in 2022. In dollar terms, the gap has narrowed by $3,625 since 2009.
Employment
| Metric | Florence | Alabama Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.0% | 4.7% | 5.2% |
| Working from Home | 9.3% | 8.8% | 15.0% |
| Commute time (minutes) | 13 | 22 | 22 |
Approximately 1,006 people are unemployed in Florence, Alabama.
The average commute time in Florence is 13 minutes, shorter than the 22 minutes in Alabama.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Florence, Alabama has fallen from 9.2% to 6.0% in 2024. Over that period the rate peaked at 9.8% in 2012 and fell as low as 4.7% in 2019.
Florence has been above the U.S. unemployment rate in most years since 2011, but dipped below it in 2013-2015 and 2017-2019. In 2024 its rate was 0.8 points higher.
Conclusion
Considering all these factors, Florence, Alabama has an overall wealth index grade of D, making it somewhat worse than Alabama, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Florence, Alabama.
How Rich Is Florence, Alabama?
Florence 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 $48,351, about 25% lower than the Alabama average of $64,544.
Are incomes growing in Florence, Alabama?
Between 2009 and 2024, the median household income in Florence, Alabama rose 68%, from $28,717 to $48,351. Over the same years, income here outpaced Alabama as a whole: +68% against +56%.
What was the median household income in Florence in 2023?
In 2023, the median household income in Florence, Alabama was $46,448, up 7% from $43,559 in 2022. The Alabama median that year was $62,326.
What was the median household income in Florence in 2020?
In 2020, the median household income in Florence, Alabama was $36,969. By 2024 it had risen 31% to $48,351.
Is it hard to find a job in Florence, Alabama?
Unemployment in Florence, Alabama is 6.0%, well above the Alabama rate of 4.7%, so job seekers may face more competition than elsewhere.
What is the Gini coefficient in Florence, Alabama?
The Gini coefficient in Florence is 0.543. 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 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Florence, Alabama?
Since 2009, the income gap between men and women in Florence, Alabama has narrowed from about 31% to 19% in 2024. Over that period the gap was narrowest at 17% in 2022. In dollar terms, the gap has narrowed by $3,625 since 2009.
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