Wealth Index
Wealthier than 84% 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 | Monroe County | Georgia Avg | US Average |
|---|---|---|---|
| Median Household Income | $84,225 | $74,683 | $78,145 |
| Median Personal Income | $59,220 | $57,099 | $61,726 |
| Average income growth | 7.5% | 5.5% | 5.1% |
| Six-Figure Earners | 11.5% | 11.7% | 13.2% |
The median household income in Monroe County is about 13% higher than in Georgia. Income has been growing faster in Monroe County (7.5%/yr) than in Georgia (5.5%/yr).
About 11% of adults in Monroe County earn six figures ($100,000 or more) a year, about the same as the Georgia average of 12%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Monroe County, Georgia grew by 65.5% from 2009 to 2023, reaching $84,225 in 2023. That's an average of about 7.5% per year.
Economic Inequality in Monroe County | Gender Pay Gap | Gini Coefficient
| Metric | Monroe County | Georgia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.597 | 0.578 | 0.570 |
| Male Median Income | $67,407 | $62,912 | $67,746 |
| Female Median Income | $48,641 | $50,950 | $54,793 |
| Gender Pay Gap | 27.8% | 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 Monroe County, it is 0.597, higher than Georgia's 0.578, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 39% more than women's income in Monroe County, Georgia. Over a 35-year career, a 39% wage gap accumulates to roughly $656,810 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Monroe County, Georgia has widened from about 25% to 28% in 2023. In dollar terms, the gap has widened by $8,058 since 2009.
Employment
| Metric | Monroe County | Georgia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.0% | 5.1% | 5.2% |
| Working from Home | 2.8% | 14.2% | 13.4% |
| Commute time (minutes) | 25 | 23 | 22 |
Approximately 572 people are unemployed in Monroe County, Georgia.
The average commute time in Monroe County is 25 minutes, longer than the 23 minutes in Georgia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Monroe County, Georgia has fallen from 8.8% to 4.0% in 2023.
Conclusion
Considering all these factors, Monroe County, Georgia has an overall wealth index grade of C, making it somewhat better than Georgia, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Monroe County, Georgia.
How Rich Is Monroe County, Georgia?
Monroe 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 $84,225, about 13% higher than the Georgia average of $74,683.
What is the current median household income in Monroe County, Georgia?
As of 2023, the median household income in Monroe County, Georgia is $84,225.
What was the median household income in Monroe County in 2023?
In 2023, the median household income in Monroe County, Georgia was $84,225.
What was the median household income in Monroe County in 2020?
In 2020, the median household income in Monroe County, Georgia was $60,662.
What is the Gini coefficient in Monroe County, Georgia?
The Gini coefficient in Monroe County is 0.597. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Monroe County, Georgia?
Since 2009, the income gap between men and women in Monroe County, Georgia has widened from about 25% to 28% in 2023. In dollar terms, the gap has widened by $8,058 since 2009.