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 | Talladega County | Alabama Avg | US Average |
|---|---|---|---|
| Median Household Income | $55,701 | $62,318 | $78,145 |
| Median Personal Income | $48,580 | $53,379 | $61,726 |
| Average income growth | 5.7% | 4.8% | 5.1% |
| Six-Figure Earners | 6.4% | 9.0% | 13.2% |
The median household income in Talladega County is about 11% lower than in Alabama. Income has been growing faster in Talladega County (5.7%/yr) than in Alabama (4.8%/yr).
About 6% of adults in Talladega 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 Talladega County, Alabama grew by 54.7% from 2009 to 2023, reaching $55,701 in 2023. That's an average of about 5.7% per year.
Economic Inequality in Talladega County | Gender Pay Gap | Gini Coefficient
| Metric | Talladega County | Alabama Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.565 | 0.572 | 0.570 |
| Male Median Income | $54,699 | $61,248 | $67,746 |
| Female Median Income | $42,247 | $45,616 | $54,793 |
| Gender Pay Gap | 22.8% | 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 Talladega County, it is 0.565, 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 29% more than women's income in Talladega County, Alabama. Over a 35-year career, a 29% wage gap accumulates to roughly $435,820 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Talladega County, Alabama has narrowed from about 31% to 23% in 2023. In dollar terms, the gap has widened by $238 since 2009.
Employment
| Metric | Talladega County | Alabama Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 8.0% | 4.8% | 5.2% |
| Working from Home | 3.5% | 7.8% | 13.4% |
| Commute time (minutes) | 21 | 22 | 22 |
Approximately 2,814 people are unemployed in Talladega County, Alabama.
The average commute time in Talladega County is 21 minutes, shorter than the 22 minutes in Alabama.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Talladega County, Alabama has fallen from 13.5% to 8.0% in 2023.
Conclusion
Considering all these factors, Talladega 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 Talladega County, Alabama.
How Rich Is Talladega County, Alabama?
Talladega 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 $55,701, about 11% lower than the Alabama average of $62,318.
What is the current median household income in Talladega County, Alabama?
As of 2023, the median household income in Talladega County, Alabama is $55,701.
What was the median household income in Talladega County in 2023?
In 2023, the median household income in Talladega County, Alabama was $55,701.
What was the median household income in Talladega County in 2020?
In 2020, the median household income in Talladega County, Alabama was $43,837.
What is the Gini coefficient in Talladega County, Alabama?
The Gini coefficient in Talladega County is 0.565. 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 Talladega County, Alabama?
Since 2009, the income gap between men and women in Talladega County, Alabama has narrowed from about 31% to 23% in 2023. In dollar terms, the gap has widened by $238 since 2009.