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 | Augusta-Richmond County consolidated government (balance) | Georgia Avg | US Average |
|---|---|---|---|
| Median Household Income | $53,597 | $74,683 | $78,145 |
| Median Personal Income | $46,014 | $57,099 | $61,726 |
| Average income growth | 4.8% | 5.5% | 5.1% |
| Six-Figure Earners | 6.3% | 11.7% | 13.2% |
The median household income in Augusta-Richmond County consolidated government (balance) is about 28% lower than in Georgia. Income has been growing slower in Augusta-Richmond County consolidated government (balance) (4.8%/yr) than in Georgia (5.5%/yr).
About 6% of adults in Augusta-Richmond County consolidated government (balance) earn six figures ($100,000 or more) a year, lower than the Georgia average of 12%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Augusta-Richmond County consolidated government (balance), Georgia grew by 45.1% from 2009 to 2023, reaching $53,597 in 2023. That's an average of about 4.8% per year.
Economic Inequality in Augusta-Richmond County consolidated government (balance) | Gender Pay Gap | Gini Coefficient
| Metric | Augusta-Richmond County consolidated government (balance) | Georgia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.570 | 0.578 | 0.570 |
| Male Median Income | $50,468 | $62,912 | $67,746 |
| Female Median Income | $41,812 | $50,950 | $54,793 |
| Gender Pay Gap | 17.1% | 19.0% | 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 Augusta-Richmond County consolidated government (balance), it is 0.570, lower than Georgia's 0.578, so income is more evenly distributed here than there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 21% more than women's income in Augusta-Richmond County consolidated government (balance), Georgia. Over a 35-year career, a 21% wage gap accumulates to roughly $302,960 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Augusta-Richmond County consolidated government (balance), Georgia has narrowed from about 21% to 17% in 2023. In dollar terms, the gap has widened by $657 since 2009.
Employment
| Metric | Augusta-Richmond County consolidated government (balance) | Georgia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 7.3% | 5.1% | 5.2% |
| Working from Home | 8.2% | 14.2% | 13.4% |
| Commute time (minutes) | 18 | 23 | 22 |
Approximately 7,331 people are unemployed in Augusta-Richmond County consolidated government (balance), Georgia.
The average commute time in Augusta-Richmond County consolidated government (balance) is 18 minutes, shorter than the 23 minutes in Georgia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Augusta-Richmond County consolidated government (balance), Georgia has fallen from 11.3% to 7.3% in 2023.
Conclusion
Considering all these factors, Augusta-Richmond County consolidated government (balance), Georgia has an overall wealth index grade of D, making it somewhat worse than Georgia, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Augusta-Richmond County consolidated government (balance), Georgia.
How Wealthy Is Augusta-Richmond County consolidated government (balance), Georgia?
Augusta-Richmond County consolidated government (balance) 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 $53,597, about 28% lower than the Georgia average of $74,683.
What is the current median household income in Augusta-Richmond County consolidated government (balance), Georgia?
As of 2023, the median household income in Augusta-Richmond County consolidated government (balance), Georgia is $53,597.
What was the median household income in Augusta-Richmond County consolidated government (balance) in 2023?
In 2023, the median household income in Augusta-Richmond County consolidated government (balance), Georgia was $53,597.
What was the median household income in Augusta-Richmond County consolidated government (balance) in 2020?
In 2020, the median household income in Augusta-Richmond County consolidated government (balance), Georgia was $43,703.
What is the Gini coefficient in Augusta-Richmond County consolidated government (balance), Georgia?
The Gini coefficient in Augusta-Richmond County consolidated government (balance) is 0.570. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Augusta-Richmond County consolidated government (balance), Georgia?
Since 2009, the income gap between men and women in Augusta-Richmond County consolidated government (balance), Georgia has narrowed from about 21% to 17% in 2023. In dollar terms, the gap has widened by $657 since 2009.