Wealth Index
Wealthier than 75% 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 | Madison County | Georgia Avg | US Average |
|---|---|---|---|
| Median Household Income | $58,588 | $74,683 | $78,145 |
| Median Personal Income | $48,014 | $57,099 | $61,726 |
| Average income growth | 3.9% | 5.5% | 5.1% |
| Six-Figure Earners | 4.1% | 11.7% | 13.2% |
The median household income in Madison County is about 22% lower than in Georgia. Income has been growing slower in Madison County (3.9%/yr) than in Georgia (5.5%/yr).
About 4% of adults in Madison 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 Madison County, Georgia grew by 46.1% from 2009 to 2023, reaching $58,588 in 2023. That's an average of about 3.9% per year.
Economic Inequality in Madison County | Gender Pay Gap | Gini Coefficient
| Metric | Madison County | Georgia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.523 | 0.578 | 0.570 |
| Male Median Income | $51,639 | $62,912 | $67,746 |
| Female Median Income | $44,414 | $50,950 | $54,793 |
| Gender Pay Gap | 14.0% | 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 Madison County, it is 0.523, lower than Georgia's 0.578, 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 16% more than women's income in Madison County, Georgia. Over a 35-year career, a 16% wage gap accumulates to roughly $252,875 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Madison County, Georgia has narrowed from about 26% to 14% in 2023. In dollar terms, the gap has narrowed by $2,552 since 2009.
Employment
| Metric | Madison County | Georgia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.7% | 5.1% | 5.2% |
| Working from Home | 7.3% | 14.2% | 13.4% |
| Commute time (minutes) | 26 | 23 | 22 |
Approximately 655 people are unemployed in Madison County, Georgia.
The average commute time in Madison County is 26 minutes, longer than the 23 minutes in Georgia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Madison County, Georgia has fallen from 8.1% to 4.7% in 2023.
Conclusion
Considering all these factors, Madison County, Georgia has an overall wealth index grade of C, making it about on par with Georgia, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Madison County, Georgia.
How Rich Is Madison County, Georgia?
Madison County has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $58,588, about 22% lower than the Georgia average of $74,683.
What is the current median household income in Madison County, Georgia?
As of 2023, the median household income in Madison County, Georgia is $58,588.
What was the median household income in Madison County in 2023?
In 2023, the median household income in Madison County, Georgia was $58,588.
What was the median household income in Madison County in 2020?
In 2020, the median household income in Madison County, Georgia was $51,974.
What is the Gini coefficient in Madison County, Georgia?
The Gini coefficient in Madison County is 0.523. 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 Madison County, Georgia?
Since 2009, the income gap between men and women in Madison County, Georgia has narrowed from about 26% to 14% in 2023. In dollar terms, the gap has narrowed by $2,552 since 2009.