Banks County, Georgia Income Statistics
Banks County Wealth Score
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.
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D
Banks County Well below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Banks County | Georgia Avg | US Average |
|---|---|---|---|
| Median Household Income | $77,371 | $77,523 | $80,455 |
| Median Personal Income | $49,625 | $55,999 | $60,758 |
| Average Yearly Income Growth | 8.5% | 5.3% | 4.8% |
| Six-Figure Earners | 8.4% | 12.4% | 13.9% |
| $200k+ Households | 5.3% | 11.9% | 13.2% |
The median household income in Banks County is about the same as in Georgia. Income has been growing faster in Banks County (8.5%/yr) than in Georgia (5.3%/yr).
About 8% of adults in Banks County earn six figures ($100,000 or more) a year, lower than the Georgia average of 12%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Banks County, Georgia grew by 87.1% from 2009 to 2024, reaching $77,371 in 2024. That's an average of about 8.5% per year.
Income Inequality and the Gender Pay Gap in Banks County
| Metric | Banks County | Georgia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.543 | 0.561 | 0.552 |
| Male Median Income | $56,103 | $65,087 | $69,667 |
| Female Median Income | $43,226 | $53,213 | $56,850 |
| Gender Pay Gap | 23.0% | 18.2% | 18.4% |
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 Banks County, it is 0.543, lower than Georgia's 0.561, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 30% more than women's income in Banks County, Georgia. Over a 35-year career, a 30% wage gap accumulates to roughly $450,695 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Banks County, Georgia has narrowed from about 32% to 23% in 2024. Over that period the gap was widest at 34% in 2010, and was narrowest at 17% in 2015. In dollar terms, the gap has widened by $177 since 2009.
Employment
| Metric | Banks County | Georgia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.9% | 5.1% | 5.2% |
| Working from Home | 8.7% | 15.9% | 15.0% |
| Commute time (minutes) | 30 | 23 | 22 |
Approximately 276 people are unemployed in Banks County, Georgia.
The average commute time in Banks County is 30 minutes, longer than the 23 minutes in Georgia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Banks County, Georgia has fallen from 8.7% to 2.9% in 2024. Over that period the rate peaked at 10.4% in 2012 and fell as low as 2.5% in 2022.
Banks County, GA Wealth Compared With Nearby Counties
Banks County, GA is the smallest of the 6 counties compared here, 19,270 residents against a local median of 47,793. Where Banks County, GA breaks from the counties next to it is income growth, sitting 52% above the local median of 5.6%/yr at 8.5%/yr. That is the better end of the local range on this measure.
Unemployment tells the same story from another angle: 2.9% against a local median of 3.5%, 17% below it. Every measure here with a clear better direction points the same way, so Banks County, GA is not trading one advantage for another, it reads stronger than its neighbours across the board. The counties themselves sit within 2.0%/yr of each other on income growth, a tighter band than the gap between any of them and Banks County, GA, which makes it a genuine outlier here rather than one end of a wide local spread. Banks County, GA has the highest income growth of the 6 areas compared here.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Banks County, GA | 19,270 | $77,371 #3/6 | 8.5%/yr #1/6 | 2.9% #2/6 | 0.543 #3/6 |
| Jackson County, GA | 84,777 | $88,667 | 6.2%/yr | 3.4% | 0.535 |
| Franklin County, GA | 24,234 | $52,500 | 4.4%/yr | 5.9% | 0.561 |
| Habersham County, GA | 47,793 | $68,082 | 6.4%/yr | 2.7% | 0.557 |
| Stephens County, GA | 27,012 | $54,840 | 5.0%/yr | 5.4% | 0.530 |
| Hall County, GA | 213,256 | $80,912 | 5.6%/yr | 3.5% | 0.544 |
Conclusion
Considering all these factors, Banks County, 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 Banks County, Georgia.
How Rich Is Banks County, Georgia?
Banks 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 $77,371, close to the Georgia average of $77,523.
How fast is household income rising in Banks County, Georgia?
Between 2009 and 2024, the median household income in Banks County, Georgia rose 87%, from $41,347 to $77,371. Over the same years, income here outpaced Georgia as a whole: +87% against +57%.
What was the median household income in Banks County in 2023?
In 2023, the median household income in Banks County, Georgia was $70,784, up 1% from $70,014 in 2022. The Georgia median that year was $74,682.
What was the median household income in Banks County in 2020?
In 2020, the median household income in Banks County, Georgia was $50,755. By 2024 it had risen 52% to $77,371.
Is unemployment high in Banks County, Georgia?
Unemployment in Banks County, Georgia is only 2.9%, well below the Georgia rate of 5.1%, a sign of a tight labor market where employers compete for workers.
What is the Gini coefficient in Banks County, Georgia?
The Gini coefficient in Banks County is 0.543. 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 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Banks County, Georgia?
Since 2009, the income gap between men and women in Banks County, Georgia has narrowed from about 32% to 23% in 2024. Over that period the gap was widest at 34% in 2010, and was narrowest at 17% in 2015. In dollar terms, the gap has widened by $177 since 2009.
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