Wealth Index
Wealthier than 71% 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 | Marshall County | Alabama Avg | US Average |
|---|---|---|---|
| Median Household Income | $61,134 | $62,318 | $78,145 |
| Median Personal Income | $51,196 | $53,379 | $61,726 |
| Average income growth | 6.3% | 4.8% | 5.1% |
| Six-Figure Earners | 7.9% | 9.0% | 13.2% |
The median household income in Marshall County is about 2% lower than in Alabama. Income has been growing faster in Marshall County (6.3%/yr) than in Alabama (4.8%/yr).
About 8% of adults in Marshall 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 Marshall County, Alabama grew by 63.1% from 2009 to 2023, reaching $61,134 in 2023. That's an average of about 6.3% per year.
Economic Inequality in Marshall County | Gender Pay Gap | Gini Coefficient
| Metric | Marshall County | Alabama Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.571 | 0.572 | 0.570 |
| Male Median Income | $58,135 | $61,248 | $67,746 |
| Female Median Income | $43,139 | $45,616 | $54,793 |
| Gender Pay Gap | 25.8% | 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 Marshall County, it is 0.571, about the same as Alabama's 0.572, so income here is about as evenly distributed as 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 35% more than women's income in Marshall County, Alabama. Over a 35-year career, a 35% wage gap accumulates to roughly $524,860 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Marshall County, Alabama has widened from about 24% to 26% in 2023. In dollar terms, the gap has widened by $5,916 since 2009.
Employment
| Metric | Marshall County | Alabama Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.7% | 4.8% | 5.2% |
| Working from Home | 6.1% | 7.8% | 13.4% |
| Commute time (minutes) | 18 | 22 | 22 |
Approximately 1,607 people are unemployed in Marshall County, Alabama.
The average commute time in Marshall County is 18 minutes, shorter than the 22 minutes in Alabama.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Marshall County, Alabama has fallen from 8.0% to 3.7% in 2023.
Conclusion
Considering all these factors, Marshall County, Alabama has an overall wealth index grade of D, making it about on par with Alabama, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Marshall County, Alabama.
How Rich Is Marshall County, Alabama?
Marshall 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 $61,134, about 2% lower than the Alabama average of $62,318.
What is the current median household income in Marshall County, Alabama?
As of 2023, the median household income in Marshall County, Alabama is $61,134.
What was the median household income in Marshall County in 2023?
In 2023, the median household income in Marshall County, Alabama was $61,134.
What was the median household income in Marshall County in 2020?
In 2020, the median household income in Marshall County, Alabama was $50,294.
What is the Gini coefficient in Marshall County, Alabama?
The Gini coefficient in Marshall County is 0.571. 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 Marshall County, Alabama?
Since 2009, the income gap between men and women in Marshall County, Alabama has widened from about 24% to 26% in 2023. In dollar terms, the gap has widened by $5,916 since 2009.