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 | Walker County | Alabama Avg | US Average |
|---|---|---|---|
| Median Household Income | $54,035 | $62,318 | $78,145 |
| Median Personal Income | $50,544 | $53,379 | $61,726 |
| Average income growth | 5.4% | 4.8% | 5.1% |
| Six-Figure Earners | 5.9% | 9.0% | 13.2% |
The median household income in Walker County is about 13% lower than in Alabama. Income has been growing faster in Walker County (5.4%/yr) than in Alabama (4.8%/yr).
About 6% of adults in Walker 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 Walker County, Alabama grew by 47.3% from 2009 to 2023, reaching $54,035 in 2023. That's an average of about 5.4% per year.
Economic Inequality in Walker County | Gender Pay Gap | Gini Coefficient
| Metric | Walker County | Alabama Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.558 | 0.572 | 0.570 |
| Male Median Income | $58,082 | $61,248 | $67,746 |
| Female Median Income | $43,590 | $45,616 | $54,793 |
| Gender Pay Gap | 25.0% | 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 Walker County, it is 0.558, 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 33% more than women's income in Walker County, Alabama. Over a 35-year career, a 33% wage gap accumulates to roughly $507,220 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Walker County, Alabama has narrowed from about 33% to 25% in 2023. In dollar terms, the gap has widened by $81 since 2009.
Employment
| Metric | Walker County | Alabama Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.4% | 4.8% | 5.2% |
| Working from Home | 3.4% | 7.8% | 13.4% |
| Commute time (minutes) | 25 | 22 | 22 |
Approximately 1,188 people are unemployed in Walker County, Alabama.
The average commute time in Walker County is 25 minutes, longer than the 22 minutes in Alabama.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Walker County, Alabama has fallen from 12.9% to 4.4% in 2023.
Conclusion
Considering all these factors, Walker 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 Walker County, Alabama.
How Rich Is Walker County, Alabama?
Walker 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 $54,035, about 13% lower than the Alabama average of $62,318.
What is the current median household income in Walker County, Alabama?
As of 2023, the median household income in Walker County, Alabama is $54,035.
What was the median household income in Walker County in 2023?
In 2023, the median household income in Walker County, Alabama was $54,035.
What was the median household income in Walker County in 2020?
In 2020, the median household income in Walker County, Alabama was $45,865.
What is the Gini coefficient in Walker County, Alabama?
The Gini coefficient in Walker County is 0.558. 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 Walker County, Alabama?
Since 2009, the income gap between men and women in Walker County, Alabama has narrowed from about 33% to 25% in 2023. In dollar terms, the gap has widened by $81 since 2009.