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 | Woodstock | Georgia Avg | US Average |
|---|---|---|---|
| Median Household Income | $103,048 | $74,683 | $78,145 |
| Median Personal Income | $67,031 | $57,099 | $61,726 |
| Average income growth | 6.3% | 5.5% | 5.1% |
| Six-Figure Earners | 18.8% | 11.7% | 13.2% |
The median household income in Woodstock is about 38% higher than in Georgia. Income has been growing faster in Woodstock (6.3%/yr) than in Georgia (5.5%/yr).
About 19% of adults in Woodstock 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 Woodstock, Georgia grew by 58.3% from 2009 to 2023, reaching $103,048 in 2023. That's an average of about 6.3% per year.
Economic Inequality in Woodstock | Gender Pay Gap | Gini Coefficient
| Metric | Woodstock | Georgia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.544 | 0.578 | 0.570 |
| Male Median Income | $80,644 | $62,912 | $67,746 |
| Female Median Income | $58,285 | $50,950 | $54,793 |
| Gender Pay Gap | 27.7% | 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 Woodstock, it is 0.544, 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 38% more than women's income in Woodstock, Georgia. Over a 35-year career, a 38% wage gap accumulates to roughly $782,565 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Woodstock, Georgia has widened from about 22% to 28% in 2023. In dollar terms, the gap has widened by $10,398 since 2009.
Employment
| Metric | Woodstock | Georgia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.5% | 5.1% | 5.2% |
| Working from Home | 20.6% | 14.2% | 13.4% |
| Commute time (minutes) | 30 | 23 | 22 |
Approximately 470 people are unemployed in Woodstock, Georgia.
The average commute time in Woodstock is 30 minutes, longer than the 23 minutes in Georgia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Woodstock, Georgia has fallen from 6.5% to 2.5% in 2023.
Conclusion
Considering all these factors, Woodstock, 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 Woodstock, Georgia.
How Rich Is Woodstock, Georgia?
Woodstock 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 $103,048, about 38% higher than the Georgia average of $74,683.
What is the current median household income in Woodstock, Georgia?
As of 2023, the median household income in Woodstock, Georgia is $103,048.
What was the median household income in Woodstock in 2023?
In 2023, the median household income in Woodstock, Georgia was $103,048.
What was the median household income in Woodstock in 2020?
In 2020, the median household income in Woodstock, Georgia was $75,895.
What is the Gini coefficient in Woodstock, Georgia?
The Gini coefficient in Woodstock is 0.544. 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 Woodstock, Georgia?
Since 2009, the income gap between men and women in Woodstock, Georgia has widened from about 22% to 28% in 2023. In dollar terms, the gap has widened by $10,398 since 2009.