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 | Clay County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Household Income | $54,492 | $69,937 | $78,145 |
| Median Personal Income | $52,536 | $55,581 | $61,726 |
| Average income growth | 5.9% | 5.4% | 5.1% |
| Six-Figure Earners | 7.8% | 11.0% | 13.2% |
The median household income in Clay County is about 22% lower than in North Carolina. Income has been growing faster in Clay County (5.9%/yr) than in North Carolina (5.4%/yr).
About 8% of adults in Clay County earn six figures ($100,000 or more) a year, lower than the North Carolina average of 11%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Clay County, North Carolina grew by 55.2% from 2009 to 2023, reaching $54,492 in 2023. That's an average of about 5.9% per year.
Economic Inequality in Clay County | Gender Pay Gap | Gini Coefficient
| Metric | Clay County | North Carolina Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.505 | 0.561 | 0.570 |
| Male Median Income | $48,635 | $60,778 | $67,746 |
| Female Median Income | $60,697 | $50,560 | $54,793 |
| Gender Pay Gap | -24.8% | 16.8% | 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 Clay County, it is 0.505, lower than North Carolina's 0.561, 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.
Women's income is about 25% more than men's income in Clay County, North Carolina. Over a 35-year career, a 25% wage gap accumulates to roughly $422,170 in unearned income for male workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Clay County, North Carolina has widened from about 7% to -25% in 2023. In dollar terms, the gap has narrowed by $14,741 since 2009.
Employment
| Metric | Clay County | North Carolina Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.2% | 4.7% | 5.2% |
| Working from Home | 7.5% | 14.5% | 13.4% |
| Commute time (minutes) | 21 | 21 | 22 |
Approximately 184 people are unemployed in Clay County, North Carolina.
The average commute time in Clay County is 21 minutes, about the same as in North Carolina.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Clay County, North Carolina has fallen from 12.0% to 4.2% in 2023.
Conclusion
Considering all these factors, Clay County, North Carolina has an overall wealth index grade of D, making it about on par with North Carolina, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Clay County, North Carolina.
How Rich Is Clay County, North Carolina?
Clay 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 $54,492, about 22% lower than the North Carolina average of $69,937.
What is the current median household income in Clay County, North Carolina?
As of 2023, the median household income in Clay County, North Carolina is $54,492.
What was the median household income in Clay County in 2023?
In 2023, the median household income in Clay County, North Carolina was $54,492.
What was the median household income in Clay County in 2020?
In 2020, the median household income in Clay County, North Carolina was $43,793.
What is the Gini coefficient in Clay County, North Carolina?
The Gini coefficient in Clay County is 0.505. 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 Clay County, North Carolina?
Since 2009, the income gap between men and women in Clay County, North Carolina has widened from about 7% to -25% in 2023. In dollar terms, the gap has narrowed by $14,741 since 2009.