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 | Richmond County | Georgia Avg | US Average |
|---|---|---|---|
| Median Household Income | $53,746 | $74,683 | $78,145 |
| Median Personal Income | $46,044 | $57,099 | $61,726 |
| Average income growth | 4.8% | 5.5% | 5.1% |
| Six-Figure Earners | 6.3% | 11.7% | 13.2% |
The median household income in Richmond County is about 28% lower than in Georgia. Income has been growing slower in Richmond County (4.8%/yr) than in Georgia (5.5%/yr).
About 6% of adults in Richmond 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 Richmond County, Georgia grew by 44.8% from 2009 to 2023, reaching $53,746 in 2023. That's an average of about 4.8% per year.
Economic Inequality in Richmond County | Gender Pay Gap | Gini Coefficient
| Metric | Richmond County | Georgia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.570 | 0.578 | 0.570 |
| Male Median Income | $50,549 | $62,912 | $67,746 |
| Female Median Income | $41,826 | $50,950 | $54,793 |
| Gender Pay Gap | 17.3% | 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 Richmond County, it is 0.570, 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 21% more than women's income in Richmond County, Georgia. Over a 35-year career, a 21% wage gap accumulates to roughly $305,305 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Richmond County, Georgia has narrowed from about 22% to 17% in 2023. In dollar terms, the gap has widened by $610 since 2009.
Employment
| Metric | Richmond County | Georgia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 7.3% | 5.1% | 5.2% |
| Working from Home | 8.3% | 14.2% | 13.4% |
| Commute time (minutes) | 18 | 23 | 22 |
Approximately 7,429 people are unemployed in Richmond County, Georgia.
The average commute time in Richmond County is 18 minutes, shorter than the 23 minutes in Georgia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Richmond County, Georgia has fallen from 11.3% to 7.3% in 2023.
Conclusion
Considering all these factors, Richmond 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 Richmond County, Georgia.
How Rich Is Richmond County, Georgia?
Richmond 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 $53,746, about 28% lower than the Georgia average of $74,683.
What is the current median household income in Richmond County, Georgia?
As of 2023, the median household income in Richmond County, Georgia is $53,746.
What was the median household income in Richmond County in 2023?
In 2023, the median household income in Richmond County, Georgia was $53,746.
What was the median household income in Richmond County in 2020?
In 2020, the median household income in Richmond County, Georgia was $43,868.
What is the Gini coefficient in Richmond County, Georgia?
The Gini coefficient in Richmond County is 0.570. 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 Richmond County, Georgia?
Since 2009, the income gap between men and women in Richmond County, Georgia has narrowed from about 22% to 17% in 2023. In dollar terms, the gap has widened by $610 since 2009.