Wealth Index
Wealthier than 72% of counties in Georgia
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 | Carroll County | Georgia Avg | US Average |
|---|---|---|---|
| Median Household Income | $72,051 | $74,683 | $78,145 |
| Median Personal Income | $51,258 | $57,099 | $61,726 |
| Average income growth | 6.8% | 5.5% | 5.1% |
| Six-Figure Earners | 7.2% | 11.7% | 13.2% |
The median household income in Carroll County is about 4% lower than in Georgia. Income has been growing faster in Carroll County (6.8%/yr) than in Georgia (5.5%/yr).
About 7% of adults in Carroll County 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 Carroll County, Georgia grew by 61.1% from 2009 to 2023, reaching $72,051 in 2023. That's an average of about 6.8% per year.
Economic Inequality in Carroll County | Gender Pay Gap | Gini Coefficient
| Metric | Carroll County | Georgia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.567 | 0.578 | 0.570 |
| Male Median Income | $55,957 | $62,912 | $67,746 |
| Female Median Income | $45,588 | $50,950 | $54,793 |
| Gender Pay Gap | 18.5% | 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 Carroll County, it is 0.567, 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 23% more than women's income in Carroll County, Georgia. Over a 35-year career, a 23% wage gap accumulates to roughly $362,915 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Carroll County, Georgia has narrowed from about 25% to 19% in 2023. In dollar terms, the gap has narrowed by $239 since 2009.
Employment
| Metric | Carroll County | Georgia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.0% | 5.1% | 5.2% |
| Working from Home | 9.2% | 14.2% | 13.4% |
| Commute time (minutes) | 23 | 23 | 22 |
Approximately 3,729 people are unemployed in Carroll County, Georgia.
The average commute time in Carroll County is 23 minutes, about the same as in Georgia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Carroll County, Georgia has fallen from 11.5% to 6.0% in 2023.
Conclusion
Considering all these factors, Carroll County, Georgia has an overall wealth index grade of D, making it about on par with Georgia, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Carroll County, Georgia.
How Rich Is Carroll County, Georgia?
Carroll 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 $72,051, about 4% lower than the Georgia average of $74,683.
What is the current median household income in Carroll County, Georgia?
As of 2023, the median household income in Carroll County, Georgia is $72,051.
What was the median household income in Carroll County in 2023?
In 2023, the median household income in Carroll County, Georgia was $72,051.
What was the median household income in Carroll County in 2020?
In 2020, the median household income in Carroll County, Georgia was $59,243.
What is the Gini coefficient in Carroll County, Georgia?
The Gini coefficient in Carroll County is 0.567. 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 Carroll County, Georgia?
Since 2009, the income gap between men and women in Carroll County, Georgia has narrowed from about 25% to 19% in 2023. In dollar terms, the gap has narrowed by $239 since 2009.