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 | Helena | Alabama Avg | US Average |
|---|---|---|---|
| Median Household Income | $108,152 | $62,318 | $78,145 |
| Median Personal Income | $72,933 | $53,379 | $61,726 |
| Average income growth | 3.5% | 4.8% | 5.1% |
| Six-Figure Earners | 17.0% | 9.0% | 13.2% |
The median household income in Helena is about 74% higher than in Alabama. Income has been growing slower in Helena (3.5%/yr) than in Alabama (4.8%/yr).
About 17% of adults in Helena 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 Helena, Alabama grew by 49.7% from 2009 to 2023, reaching $108,152 in 2023. That's an average of about 3.5% per year.
Economic Inequality in Helena | Gender Pay Gap | Gini Coefficient
| Metric | Helena | Alabama Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.516 | 0.572 | 0.570 |
| Male Median Income | $87,701 | $61,248 | $67,746 |
| Female Median Income | $59,962 | $45,616 | $54,793 |
| Gender Pay Gap | 31.6% | 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 Helena, it is 0.516, 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 46% more than women's income in Helena, Alabama. Over a 35-year career, a 46% wage gap accumulates to roughly $970,865 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Helena, Alabama has widened from about 19% to 32% in 2023. In dollar terms, the gap has widened by $16,678 since 2009.
Employment
| Metric | Helena | Alabama Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 1.9% | 4.8% | 5.2% |
| Working from Home | 17.7% | 7.8% | 13.4% |
| Commute time (minutes) | 31 | 22 | 22 |
Approximately 245 people are unemployed in Helena, Alabama.
The average commute time in Helena is 31 minutes, longer than the 22 minutes in Alabama.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Helena, Alabama has fallen from 5.3% to 1.9% in 2023.
Conclusion
Considering all these factors, Helena, Alabama has an overall wealth index grade of A, making it far better than Alabama, and notably better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Helena, Alabama.
How Rich Is Helena, Alabama?
Helena has a wealth index grade of A. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an A grade means residents are much better off than the U.S. average. The median household income is $108,152, about 74% higher than the Alabama average of $62,318.
What is the current median household income in Helena, Alabama?
As of 2023, the median household income in Helena, Alabama is $108,152.
What was the median household income in Helena in 2023?
In 2023, the median household income in Helena, Alabama was $108,152.
What was the median household income in Helena in 2020?
In 2020, the median household income in Helena, Alabama was $86,563.
What is the Gini coefficient in Helena, Alabama?
The Gini coefficient in Helena is 0.516. 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 Helena, Alabama?
Since 2009, the income gap between men and women in Helena, Alabama has widened from about 19% to 32% in 2023. In dollar terms, the gap has widened by $16,678 since 2009.