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 | Mountain Brook | Alabama Avg | US Average |
|---|---|---|---|
| Median Household Income | $145,375 | $62,318 | $78,145 |
| Median Personal Income | $110,473 | $53,379 | $61,726 |
| Average income growth | 5.6% | 4.8% | 5.1% |
| Six-Figure Earners | 32.6% | 9.0% | 13.2% |
The median household income in Mountain Brook is about 133% higher than in Alabama. Income has been growing faster in Mountain Brook (5.6%/yr) than in Alabama (4.8%/yr).
About 33% of adults in Mountain Brook 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 Mountain Brook, Alabama grew by 54.6% from 2009 to 2023, reaching $145,375 in 2023. That's an average of about 5.6% per year.
Economic Inequality in Mountain Brook | Gender Pay Gap | Gini Coefficient
| Metric | Mountain Brook | Alabama Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.543 | 0.572 | 0.570 |
| Male Median Income | $127,354 | $61,248 | $67,746 |
| Female Median Income | $73,799 | $45,616 | $54,793 |
| Gender Pay Gap | 42.1% | 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 Mountain Brook, it is 0.543, 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 73% more than women's income in Mountain Brook, Alabama. Over a 35-year career, a 73% wage gap accumulates to roughly $1,874,425 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Mountain Brook, Alabama has narrowed from about 49% to 42% in 2023. In dollar terms, the gap has widened by $5,458 since 2009.
Employment
| Metric | Mountain Brook | Alabama Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.7% | 4.8% | 5.2% |
| Working from Home | 15.8% | 7.8% | 13.4% |
| Commute time (minutes) | 17 | 22 | 22 |
Approximately 310 people are unemployed in Mountain Brook, Alabama.
The average commute time in Mountain Brook is 17 minutes, shorter than the 22 minutes in Alabama.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Mountain Brook, Alabama has fallen from 3.5% to 2.7% in 2023.
Conclusion
Considering all these factors, Mountain Brook, Alabama has an overall wealth index grade of A+, making it far better than Alabama, and far better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Mountain Brook, Alabama.
How Rich Is Mountain Brook, Alabama?
Mountain Brook 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 it is one of the most prosperous areas in the country. The median household income is $145,375, about 133% higher than the Alabama average of $62,318.
What is the current median household income in Mountain Brook, Alabama?
As of 2023, the median household income in Mountain Brook, Alabama is $145,375.
What was the median household income in Mountain Brook in 2023?
In 2023, the median household income in Mountain Brook, Alabama was $145,375.
What was the median household income in Mountain Brook in 2020?
In 2020, the median household income in Mountain Brook, Alabama was $120,348.
What is the Gini coefficient in Mountain Brook, Alabama?
The Gini coefficient in Mountain Brook is 0.543. 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 Mountain Brook, Alabama?
Since 2009, the income gap between men and women in Mountain Brook, Alabama has narrowed from about 49% to 42% in 2023. In dollar terms, the gap has widened by $5,458 since 2009.