Madison County, North Carolina Income Statistics
Madison County Wealth Score
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.
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D
Madison County Well below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Madison County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Household Income | $58,302 | $72,438 | $80,455 |
| Median Personal Income | $50,364 | $54,489 | $60,758 |
| Average Yearly Income Growth | 4.8% | 5.2% | 4.8% |
| Six-Figure Earners | 6.0% | 11.9% | 13.9% |
| $200k+ Households | 6.1% | 10.4% | 13.2% |
The median household income in Madison County is about 20% lower than in North Carolina. Income has been growing slower in Madison County (4.8%/yr) than in North Carolina (5.2%/yr).
About 6% of adults in Madison County earn six figures ($100,000 or more) a year, lower than the North Carolina average of 12%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Madison County, North Carolina grew by 55.5% from 2009 to 2024, reaching $58,302 in 2024. That's an average of about 4.8% per year.
Income Inequality and the Gender Pay Gap in Madison County
| Metric | Madison County | North Carolina Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.538 | 0.547 | 0.552 |
| Male Median Income | $55,109 | $63,136 | $69,667 |
| Female Median Income | $49,905 | $52,579 | $56,850 |
| Gender Pay Gap | 9.4% | 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 Madison County, it is 0.538, 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 10% more than women's income in Madison County, North Carolina. Over a 35-year career, a 10% wage gap accumulates to roughly $182,140 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Madison County, North Carolina has narrowed from about 18% to 9% in 2024. Over that period the gap was widest at 26% in 2014, and was narrowest at 7% in 2023. In dollar terms, the gap has narrowed by $1,037 since 2009.
Employment
| Metric | Madison County | North Carolina Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.1% | 4.6% | 5.2% |
| Working from Home | 10.7% | 16.3% | 15.0% |
| Commute time (minutes) | 28 | 21 | 22 |
Approximately 326 people are unemployed in Madison County, North Carolina.
The average commute time in Madison County is 28 minutes, longer than the 21 minutes in North Carolina.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Madison County, North Carolina has fallen from 8.2% to 3.1% in 2024. Over that period the rate peaked at 8.9% in 2014 and fell as low as 1.7% in 2022.
Madison County, NC Wealth Compared With Nearby Counties
Madison County, NC is the 4th largest of the 6 counties compared here, 21,867 residents against a local median of 59,366. The measure that sets Madison County, NC apart most is unemployment: 3.1%, 28% below the local median of 4.3%. That is the better end of the local range on this measure.
The counties themselves spread 4.2% on unemployment, so Madison County, NC sits at one end of an already wide local range rather than apart from it. Madison County, NC has the 2nd lowest unemployment of the 6 areas compared here.
| 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. |
|---|---|---|---|---|---|
| Madison County, NC | 21,867 | $58,302 #4/6 | 4.8%/yr #6/6 | 3.1% #2/6 | 0.538 #5/6 |
| Buncombe County, NC | 274,254 | $74,474 | 6.0%/yr | 4.3% | 0.536 |
| Greene County, TN | 71,628 | $56,389 | 5.5%/yr | 5.7% | 0.536 |
| Unicoi County, TN | 17,742 | $52,731 | 5.1%/yr | 4.3% | 0.539 |
| Yancey County, NC | 18,788 | $58,633 | 6.1%/yr | 7.3% | 0.518 |
| Haywood County, NC | 59,366 | $63,952 | 4.8%/yr | 3.1% | 0.521 |
Conclusion
Considering all these factors, Madison 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 Madison County, North Carolina.
How Rich Is Madison County, North Carolina?
Madison 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 $58,302, about 20% lower than the North Carolina average of $72,438.
How has median household income changed in Madison County, North Carolina?
Between 2009 and 2024, the median household income in Madison County, North Carolina rose 56%, from $37,483 to $58,302. Over the same years, income here lagged behind North Carolina as a whole: +56% against +61%.
What was the median household income in Madison County in 2023?
In 2023, the median household income in Madison County, North Carolina was $58,856, up 3% from $56,871 in 2022. The North Carolina median that year was $69,937.
What was the median household income in Madison County in 2020?
In 2020, the median household income in Madison County, North Carolina was $46,136. By 2024 it had risen 26% to $58,302.
Is unemployment high in Madison County, North Carolina?
Unemployment in Madison County, North Carolina is only 3.1%, well below the North Carolina rate of 4.6%, a sign of a tight labor market where employers compete for workers.
What is the Gini coefficient in Madison County, North Carolina?
The Gini coefficient in Madison County is 0.538. 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 Madison County, North Carolina?
Since 2009, the income gap between men and women in Madison County, North Carolina has narrowed from about 18% to 9% in 2024. Over that period the gap was widest at 26% in 2014, and was narrowest at 7% in 2023. In dollar terms, the gap has narrowed by $1,037 since 2009.
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