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 | Tuscaloosa | Alabama Avg | US Average |
|---|---|---|---|
| Median Household Income | $46,535 | $62,318 | $78,145 |
| Median Personal Income | $47,406 | $53,379 | $61,726 |
| Average income growth | 2.7% | 4.8% | 5.1% |
| Six-Figure Earners | 7.3% | 9.0% | 13.2% |
The median household income in Tuscaloosa is about 25% lower than in Alabama. Income has been growing slower in Tuscaloosa (2.7%/yr) than in Alabama (4.8%/yr).
About 7% of adults in Tuscaloosa 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 Tuscaloosa, Alabama grew by 65.1% from 2009 to 2023, reaching $46,535 in 2023. That's an average of about 2.7% per year.
Economic Inequality in Tuscaloosa | Gender Pay Gap | Gini Coefficient
| Metric | Tuscaloosa | Alabama Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.634 | 0.572 | 0.570 |
| Male Median Income | $52,989 | $61,248 | $67,746 |
| Female Median Income | $39,978 | $45,616 | $54,793 |
| Gender Pay Gap | 24.6% | 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 Tuscaloosa, it is 0.634, 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 33% more than women's income in Tuscaloosa, Alabama. Over a 35-year career, a 33% wage gap accumulates to roughly $455,385 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Tuscaloosa, Alabama has widened from about 23% to 25% in 2023. In dollar terms, the gap has widened by $4,129 since 2009.
Employment
| Metric | Tuscaloosa | Alabama Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 7.6% | 4.8% | 5.2% |
| Working from Home | 8.0% | 7.8% | 13.4% |
| Commute time (minutes) | 16 | 22 | 22 |
Approximately 3,460 people are unemployed in Tuscaloosa, Alabama.
The average commute time in Tuscaloosa is 16 minutes, shorter than the 22 minutes in Alabama.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Tuscaloosa, Alabama has fallen from 8.1% to 7.6% in 2023.
Conclusion
Considering all these factors, Tuscaloosa, 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 Tuscaloosa, Alabama.
How Rich Is Tuscaloosa, Alabama?
Tuscaloosa 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 $46,535, about 25% lower than the Alabama average of $62,318.
What is the current median household income in Tuscaloosa, Alabama?
As of 2023, the median household income in Tuscaloosa, Alabama is $46,535.
What was the median household income in Tuscaloosa in 2023?
In 2023, the median household income in Tuscaloosa, Alabama was $46,535.
What was the median household income in Tuscaloosa in 2020?
In 2020, the median household income in Tuscaloosa, Alabama was $43,226.
What is the Gini coefficient in Tuscaloosa, Alabama?
The Gini coefficient in Tuscaloosa is 0.634. 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 Tuscaloosa, Alabama?
Since 2009, the income gap between men and women in Tuscaloosa, Alabama has widened from about 23% to 25% in 2023. In dollar terms, the gap has widened by $4,129 since 2009.