Wealth Index
Less wealthy than 94% of counties in North Carolina
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 | Halifax County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Household Income | $45,061 | $69,937 | $78,145 |
| Median Personal Income | $47,163 | $55,581 | $61,726 |
| Average income growth | 4.7% | 5.4% | 5.1% |
| Six-Figure Earners | 5.1% | 11.0% | 13.2% |
The median household income in Halifax County is about 36% lower than in North Carolina. Income has been growing slower in Halifax County (4.7%/yr) than in North Carolina (5.4%/yr).
About 5% of adults in Halifax 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 Halifax County, North Carolina grew by 58.3% from 2009 to 2023, reaching $45,061 in 2023. That's an average of about 4.7% per year.
Economic Inequality in Halifax County | Gender Pay Gap | Gini Coefficient
| Metric | Halifax County | North Carolina Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.556 | 0.561 | 0.570 |
| Male Median Income | $52,318 | $60,778 | $67,746 |
| Female Median Income | $43,497 | $50,560 | $54,793 |
| Gender Pay Gap | 16.9% | 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 Halifax County, it is 0.556, about the same as North Carolina's 0.561, so income here is about as evenly distributed as there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 20% more than women's income in Halifax County, North Carolina. Over a 35-year career, a 20% wage gap accumulates to roughly $308,735 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Halifax County, North Carolina has narrowed from about 19% to 17% in 2023. In dollar terms, the gap has widened by $2,256 since 2009.
Employment
| Metric | Halifax County | North Carolina Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 8.7% | 4.7% | 5.2% |
| Working from Home | 7.2% | 14.5% | 13.4% |
| Commute time (minutes) | 20 | 21 | 22 |
Approximately 1,719 people are unemployed in Halifax County, North Carolina.
The average commute time in Halifax County is 20 minutes, shorter than the 21 minutes in North Carolina.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Halifax County, North Carolina has fallen from 15.5% to 8.7% in 2023.
Conclusion
Considering all these factors, Halifax County, North Carolina has an overall wealth index grade of D, making it somewhat worse than North Carolina, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Halifax County, North Carolina.
How Rich Is Halifax County, North Carolina?
Halifax 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 $45,061, about 36% lower than the North Carolina average of $69,937.
What is the current median household income in Halifax County, North Carolina?
As of 2023, the median household income in Halifax County, North Carolina is $45,061.
What was the median household income in Halifax County in 2023?
In 2023, the median household income in Halifax County, North Carolina was $45,061.
What was the median household income in Halifax County in 2020?
In 2020, the median household income in Halifax County, North Carolina was $35,873.
What is the Gini coefficient in Halifax County, North Carolina?
The Gini coefficient in Halifax County is 0.556. 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 Halifax County, North Carolina?
Since 2009, the income gap between men and women in Halifax County, North Carolina has narrowed from about 19% to 17% in 2023. In dollar terms, the gap has widened by $2,256 since 2009.