Wealth Index
Less wealthy than 89% of 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 | Macon County | Alabama Avg | US Average |
|---|---|---|---|
| Median Household Income | $45,813 | $62,318 | $78,145 |
| Median Personal Income | $41,354 | $53,379 | $61,726 |
| Average income growth | 5.0% | 4.8% | 5.1% |
| Six-Figure Earners | 4.2% | 9.0% | 13.2% |
The median household income in Macon County is about 26% lower than in Alabama. Income has been growing faster in Macon County (5.0%/yr) than in Alabama (4.8%/yr).
About 4% of adults in Macon County earn six figures ($100,000 or more) a year, lower than the Alabama average of 9%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Macon County, Alabama grew by 71.5% from 2009 to 2023, reaching $45,813 in 2023. That's an average of about 5.0% per year.
Economic Inequality in Macon County | Gender Pay Gap | Gini Coefficient
| Metric | Macon County | Alabama Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.580 | 0.572 | 0.570 |
| Male Median Income | $47,683 | $61,248 | $67,746 |
| Female Median Income | $36,740 | $45,616 | $54,793 |
| Gender Pay Gap | 23.0% | 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 Macon County, it is 0.580, 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 30% more than women's income in Macon County, Alabama. Over a 35-year career, a 30% wage gap accumulates to roughly $383,005 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Macon County, Alabama has narrowed from about 31% to 23% in 2023. In dollar terms, the gap has narrowed by $1,386 since 2009.
Employment
| Metric | Macon County | Alabama Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 10.6% | 4.8% | 5.2% |
| Working from Home | 7.0% | 7.8% | 13.4% |
| Commute time (minutes) | 21 | 22 | 22 |
Approximately 894 people are unemployed in Macon County, Alabama.
The average commute time in Macon County is 21 minutes, shorter than the 22 minutes in Alabama.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Macon County, Alabama has fallen from 13.3% to 10.6% in 2023.
Conclusion
Considering all these factors, Macon County, 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 Macon County, Alabama.
How Rich Is Macon County, Alabama?
Macon County 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 $45,813, about 26% lower than the Alabama average of $62,318.
What is the current median household income in Macon County, Alabama?
As of 2023, the median household income in Macon County, Alabama is $45,813.
What was the median household income in Macon County in 2023?
In 2023, the median household income in Macon County, Alabama was $45,813.
What was the median household income in Macon County in 2020?
In 2020, the median household income in Macon County, Alabama was $35,434.
What is the Gini coefficient in Macon County, Alabama?
The Gini coefficient in Macon County is 0.580. 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 Macon County, Alabama?
Since 2009, the income gap between men and women in Macon County, Alabama has narrowed from about 31% to 23% in 2023. In dollar terms, the gap has narrowed by $1,386 since 2009.