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 | Newnan | Georgia Avg | US Average |
|---|---|---|---|
| Median Household Income | $72,954 | $74,683 | $78,145 |
| Median Personal Income | $60,064 | $57,099 | $61,726 |
| Average income growth | 3.5% | 5.5% | 5.1% |
| Six-Figure Earners | 13.8% | 11.7% | 13.2% |
The median household income in Newnan is about 2% lower than in Georgia. Income has been growing slower in Newnan (3.5%/yr) than in Georgia (5.5%/yr).
About 14% of adults in Newnan earn six figures ($100,000 or more) a year, higher than the Georgia average of 12%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Newnan, Georgia grew by 38.6% from 2009 to 2023, reaching $72,954 in 2023. That's an average of about 3.5% per year.
Economic Inequality in Newnan | Gender Pay Gap | Gini Coefficient
| Metric | Newnan | Georgia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.572 | 0.578 | 0.570 |
| Male Median Income | $70,348 | $62,912 | $67,746 |
| Female Median Income | $52,667 | $50,950 | $54,793 |
| Gender Pay Gap | 25.1% | 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 Newnan, it is 0.572, 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 34% more than women's income in Newnan, Georgia. Over a 35-year career, a 34% wage gap accumulates to roughly $618,835 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Newnan, Georgia has widened from about 21% to 25% in 2023. In dollar terms, the gap has widened by $7,933 since 2009.
Employment
| Metric | Newnan | Georgia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.1% | 5.1% | 5.2% |
| Working from Home | 12.1% | 14.2% | 13.4% |
| Commute time (minutes) | 22 | 23 | 22 |
Approximately 498 people are unemployed in Newnan, Georgia.
The average commute time in Newnan is 22 minutes, shorter than the 23 minutes in Georgia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Newnan, Georgia has fallen from 6.5% to 3.1% in 2023.
Conclusion
Considering all these factors, Newnan, Georgia has an overall wealth index grade of B, making it somewhat better than Georgia, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Newnan, Georgia.
How Rich Is Newnan, Georgia?
Newnan has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $72,954, about 2% lower than the Georgia average of $74,683.
What is the current median household income in Newnan, Georgia?
As of 2023, the median household income in Newnan, Georgia is $72,954.
What was the median household income in Newnan in 2023?
In 2023, the median household income in Newnan, Georgia was $72,954.
What was the median household income in Newnan in 2020?
In 2020, the median household income in Newnan, Georgia was $64,724.
What is the Gini coefficient in Newnan, Georgia?
The Gini coefficient in Newnan is 0.572. 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 Newnan, Georgia?
Since 2009, the income gap between men and women in Newnan, Georgia has widened from about 21% to 25% in 2023. In dollar terms, the gap has widened by $7,933 since 2009.