Concord, North Carolina Income Statistics
Concord Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
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B
Concord Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Concord | North Carolina Avg | US Average |
|---|---|---|---|
| Median Household Income | $83,714 | $72,438 | $80,455 |
| Median Personal Income | $56,208 | $54,489 | $60,758 |
| Average Yearly Income Growth | 5.1% | 5.2% | 4.8% |
| Six-Figure Earners | 13.5% | 11.9% | 13.9% |
| $200k+ Households | 14.1% | 10.4% | 13.2% |
The median household income in Concord is about 16% higher than in North Carolina. Income has been growing slower in Concord (5.1%/yr) than in North Carolina (5.2%/yr).
About 13% of adults in Concord earn six figures ($100,000 or more) a year, higher than the North Carolina average of 12%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Concord, North Carolina grew by 62.7% from 2009 to 2024, reaching $83,714 in 2024. That's an average of about 5.1% per year.
Income Inequality and the Gender Pay Gap in Concord
| Metric | Concord | North Carolina Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.536 | 0.547 | 0.552 |
| Male Median Income | $63,246 | $63,136 | $69,667 |
| Female Median Income | $54,458 | $52,579 | $56,850 |
| Gender Pay Gap | 13.9% | 16.7% | 18.4% |
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 Concord, it is 0.536, lower than North Carolina's 0.547, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 16% more than women's income in Concord, North Carolina. Over a 35-year career, a 16% wage gap accumulates to roughly $307,580 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Concord, North Carolina has narrowed from about 21% to 14% in 2024. Over that period the gap was widest at 23% in 2011, and was narrowest at 12% in 2021. In dollar terms, the gap has narrowed by $654 since 2009.
Employment
| Metric | Concord | North Carolina Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.8% | 4.6% | 5.2% |
| Working from Home | 16.8% | 16.3% | 15.0% |
| Commute time (minutes) | 23 | 21 | 22 |
Approximately 3,033 people are unemployed in Concord, North Carolina.
The average commute time in Concord is 23 minutes, longer than the 21 minutes in North Carolina.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Concord, North Carolina has fallen from 10.2% to 5.8% in 2024. Over that period the rate peaked at 12.0% in 2013 and fell as low as 4.8% in 2022.
Concord, NC Wealth Compared With Nearby Cities
How Concord, NC compares with the 1 cities closest to it.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Concord, NC | 97,304 | $83,714 #1/2 | 5.1%/yr #2/2 | 5.8% #2/2 | 0.536 #2/2 |
| Kannapolis, NC | 50,058 | $69,933 | 5.5%/yr | 4.1% | 0.499 |
Conclusion
Considering all these factors, Concord, North Carolina has an overall wealth index grade of B, making it somewhat better than North Carolina, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Concord, North Carolina.
How Rich Is Concord, North Carolina?
Concord 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 $83,714, about 16% higher than the North Carolina average of $72,438.
How fast is household income rising in Concord, North Carolina?
Between 2009 and 2024, the median household income in Concord, North Carolina rose 63%, from $51,461 to $83,714. Over the same years, income here outpaced North Carolina as a whole: +63% against +61%.
What was the median household income in Concord in 2023?
In 2023, the median household income in Concord, North Carolina was $82,058, up 2% from $80,099 in 2022. The North Carolina median that year was $69,937.
What was the median household income in Concord in 2020?
In 2020, the median household income in Concord, North Carolina was $67,890. By 2024 it had risen 23% to $83,714.
Is it hard to find a job in Concord, North Carolina?
Unemployment in Concord, North Carolina is 5.8%, well above the North Carolina rate of 4.6%, so job seekers may face more competition than elsewhere.
What is the Gini coefficient in Concord, North Carolina?
The Gini coefficient in Concord is 0.536. 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 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Concord, North Carolina?
Since 2009, the income gap between men and women in Concord, North Carolina has narrowed from about 21% to 14% in 2024. Over that period the gap was widest at 23% in 2011, and was narrowest at 12% in 2021. In dollar terms, the gap has narrowed by $654 since 2009.
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