Wealth Index
Less wealthy than 79% 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 | Pickens County | Alabama Avg | US Average |
|---|---|---|---|
| Median Household Income | $46,920 | $62,318 | $78,145 |
| Median Personal Income | $47,021 | $53,379 | $61,726 |
| Average income growth | 5.8% | 4.8% | 5.1% |
| Six-Figure Earners | 4.1% | 9.0% | 13.2% |
The median household income in Pickens County is about 25% lower than in Alabama. Income has been growing faster in Pickens County (5.8%/yr) than in Alabama (4.8%/yr).
About 4% of adults in Pickens 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 Pickens County, Alabama grew by 75.2% from 2009 to 2023, reaching $46,920 in 2023. That's an average of about 5.8% per year.
Economic Inequality in Pickens County | Gender Pay Gap | Gini Coefficient
| Metric | Pickens County | Alabama Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.580 | 0.572 | 0.570 |
| Male Median Income | $49,319 | $61,248 | $67,746 |
| Female Median Income | $41,726 | $45,616 | $54,793 |
| Gender Pay Gap | 15.4% | 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 Pickens 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 18% more than women's income in Pickens County, Alabama. Over a 35-year career, a 18% wage gap accumulates to roughly $265,755 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Pickens County, Alabama has narrowed from about 32% to 15% in 2023. In dollar terms, the gap has narrowed by $4,905 since 2009.
Employment
| Metric | Pickens County | Alabama Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.5% | 4.8% | 5.2% |
| Working from Home | 5.0% | 7.8% | 13.4% |
| Commute time (minutes) | 32 | 22 | 22 |
Approximately 477 people are unemployed in Pickens County, Alabama.
The average commute time in Pickens County is 32 minutes, longer than the 22 minutes in Alabama.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Pickens County, Alabama has fallen from 14.0% to 6.5% in 2023.
Conclusion
Considering all these factors, Pickens 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 Pickens County, Alabama.
How Rich Is Pickens County, Alabama?
Pickens 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 $46,920, about 25% lower than the Alabama average of $62,318.
What is the current median household income in Pickens County, Alabama?
As of 2023, the median household income in Pickens County, Alabama is $46,920.
What was the median household income in Pickens County in 2023?
In 2023, the median household income in Pickens County, Alabama was $46,920.
What was the median household income in Pickens County in 2020?
In 2020, the median household income in Pickens County, Alabama was $40,451.
What is the Gini coefficient in Pickens County, Alabama?
The Gini coefficient in Pickens 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 Pickens County, Alabama?
Since 2009, the income gap between men and women in Pickens County, Alabama has narrowed from about 32% to 15% in 2023. In dollar terms, the gap has narrowed by $4,905 since 2009.