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 | Floyd County | Georgia Avg | US Average |
|---|---|---|---|
| Median Household Income | $62,255 | $74,683 | $78,145 |
| Median Personal Income | $46,647 | $57,099 | $61,726 |
| Average income growth | 5.3% | 5.5% | 5.1% |
| Six-Figure Earners | 7.7% | 11.7% | 13.2% |
The median household income in Floyd County is about 17% lower than in Georgia. Income has been growing slower in Floyd County (5.3%/yr) than in Georgia (5.5%/yr).
About 8% of adults in Floyd 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 Floyd County, Georgia grew by 49.1% from 2009 to 2023, reaching $62,255 in 2023. That's an average of about 5.3% per year.
Economic Inequality in Floyd County | Gender Pay Gap | Gini Coefficient
| Metric | Floyd County | Georgia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.568 | 0.578 | 0.570 |
| Male Median Income | $52,312 | $62,912 | $67,746 |
| Female Median Income | $40,069 | $50,950 | $54,793 |
| Gender Pay Gap | 23.4% | 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 Floyd County, it is 0.568, 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 31% more than women's income in Floyd County, Georgia. Over a 35-year career, a 31% wage gap accumulates to roughly $428,505 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Floyd County, Georgia has narrowed from about 26% to 23% in 2023. In dollar terms, the gap has widened by $1,785 since 2009.
Employment
| Metric | Floyd County | Georgia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.2% | 5.1% | 5.2% |
| Working from Home | 6.2% | 14.2% | 13.4% |
| Commute time (minutes) | 20 | 23 | 22 |
Approximately 1,978 people are unemployed in Floyd County, Georgia.
The average commute time in Floyd County is 20 minutes, shorter than the 23 minutes in Georgia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Floyd County, Georgia has fallen from 10.4% to 4.2% in 2023.
Conclusion
Considering all these factors, Floyd 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 Floyd County, Georgia.
How Rich Is Floyd County, Georgia?
Floyd 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 $62,255, about 17% lower than the Georgia average of $74,683.
What is the current median household income in Floyd County, Georgia?
As of 2023, the median household income in Floyd County, Georgia is $62,255.
What was the median household income in Floyd County in 2023?
In 2023, the median household income in Floyd County, Georgia was $62,255.
What was the median household income in Floyd County in 2020?
In 2020, the median household income in Floyd County, Georgia was $50,634.
What is the Gini coefficient in Floyd County, Georgia?
The Gini coefficient in Floyd County is 0.568. 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 Floyd County, Georgia?
Since 2009, the income gap between men and women in Floyd County, Georgia has narrowed from about 26% to 23% in 2023. In dollar terms, the gap has widened by $1,785 since 2009.