Wealth Index
Among the top 5 wealthiest counties in Alabama
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 | Jefferson County | Alabama Avg | US Average |
|---|---|---|---|
| Median Household Income | $64,995 | $62,318 | $78,145 |
| Median Personal Income | $57,287 | $53,379 | $61,726 |
| Average income growth | 4.6% | 4.8% | 5.1% |
| Six-Figure Earners | 11.0% | 9.0% | 13.2% |
The median household income in Jefferson County is about 4% higher than in Alabama. Income has been growing slower in Jefferson County (4.6%/yr) than in Alabama (4.8%/yr).
About 11% of adults in Jefferson County 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 Jefferson County, Alabama grew by 45.3% from 2009 to 2023, reaching $64,995 in 2023. That's an average of about 4.6% per year.
Economic Inequality in Jefferson County | Gender Pay Gap | Gini Coefficient
| Metric | Jefferson County | Alabama Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.566 | 0.572 | 0.570 |
| Male Median Income | $64,244 | $61,248 | $67,746 |
| Female Median Income | $50,493 | $45,616 | $54,793 |
| Gender Pay Gap | 21.4% | 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 Jefferson County, it is 0.566, lower than Alabama's 0.572, so income is more evenly distributed here than 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 27% more than women's income in Jefferson County, Alabama. Over a 35-year career, a 27% wage gap accumulates to roughly $481,285 in unearned income for female workers in the area.
Income by Sex Over Time
The income gap between men and women in Jefferson County, Alabama has stayed about the same since 2009, at around 21%. In dollar terms, the gap has widened by $4,285 since 2009.
Employment
| Metric | Jefferson County | Alabama Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.8% | 4.8% | 5.2% |
| Working from Home | 9.8% | 7.8% | 13.4% |
| Commute time (minutes) | 22 | 22 | 22 |
Approximately 15,623 people are unemployed in Jefferson County, Alabama.
The average commute time in Jefferson County is 22 minutes, about the same as in Alabama.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Jefferson County, Alabama has fallen from 9.3% to 4.8% in 2023.
Conclusion
Considering all these factors, Jefferson County, 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 Jefferson County, Alabama.
How Rich Is Jefferson County, Alabama?
Jefferson County 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 $64,995, about 4% higher than the Alabama average of $62,318.
What is the current median household income in Jefferson County, Alabama?
As of 2023, the median household income in Jefferson County, Alabama is $64,995.
What was the median household income in Jefferson County in 2023?
In 2023, the median household income in Jefferson County, Alabama was $64,995.
What was the median household income in Jefferson County in 2020?
In 2020, the median household income in Jefferson County, Alabama was $55,525.
What is the Gini coefficient in Jefferson County, Alabama?
The Gini coefficient in Jefferson County is 0.566. 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 Jefferson County, Alabama?
The income gap between men and women in Jefferson County, Alabama has stayed about the same since 2009, at around 21%. In dollar terms, the gap has widened by $4,285 since 2009.