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 | Huntsville | Alabama Avg | US Average |
|---|---|---|---|
| Median Household Income | $69,951 | $62,318 | $78,145 |
| Median Personal Income | $60,713 | $53,379 | $61,726 |
| Average income growth | 4.7% | 4.8% | 5.1% |
| Six-Figure Earners | 14.2% | 9.0% | 13.2% |
The median household income in Huntsville is about 12% higher than in Alabama. Income has been growing slower in Huntsville (4.7%/yr) than in Alabama (4.8%/yr).
About 14% of adults in Huntsville 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 Huntsville, Alabama grew by 47.1% from 2009 to 2023, reaching $69,951 in 2023. That's an average of about 4.7% per year.
Economic Inequality in Huntsville | Gender Pay Gap | Gini Coefficient
| Metric | Huntsville | Alabama Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.588 | 0.572 | 0.570 |
| Male Median Income | $71,293 | $61,248 | $67,746 |
| Female Median Income | $49,386 | $45,616 | $54,793 |
| Gender Pay Gap | 30.7% | 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 Huntsville, it is 0.588, higher than Alabama's 0.572, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 44% more than women's income in Huntsville, Alabama. Over a 35-year career, a 44% wage gap accumulates to roughly $766,745 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Huntsville, Alabama has widened from about 27% to 31% in 2023. In dollar terms, the gap has widened by $8,687 since 2009.
Employment
| Metric | Huntsville | Alabama Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.5% | 4.8% | 5.2% |
| Working from Home | 12.9% | 7.8% | 13.4% |
| Commute time (minutes) | 18 | 22 | 22 |
Approximately 4,885 people are unemployed in Huntsville, Alabama.
The average commute time in Huntsville is 18 minutes, shorter than the 22 minutes in Alabama.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Huntsville, Alabama has fallen from 10.2% to 4.5% in 2023.
Conclusion
Considering all these factors, Huntsville, 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 Huntsville, Alabama.
How Rich Is Huntsville, Alabama?
Huntsville 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 $69,951, about 12% higher than the Alabama average of $62,318.
What is the current median household income in Huntsville, Alabama?
As of 2023, the median household income in Huntsville, Alabama is $69,951.
What was the median household income in Huntsville in 2023?
In 2023, the median household income in Huntsville, Alabama was $69,951.
What was the median household income in Huntsville in 2020?
In 2020, the median household income in Huntsville, Alabama was $55,863.
What is the Gini coefficient in Huntsville, Alabama?
The Gini coefficient in Huntsville is 0.588. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Huntsville, Alabama?
Since 2009, the income gap between men and women in Huntsville, Alabama has widened from about 27% to 31% in 2023. In dollar terms, the gap has widened by $8,687 since 2009.