Wealth Index
Wealthier than 82% 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 | New Hanover County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Household Income | $72,633 | $69,937 | $78,145 |
| Median Personal Income | $58,684 | $55,581 | $61,726 |
| Average income growth | 5.1% | 5.4% | 5.1% |
| Six-Figure Earners | 13.3% | 11.0% | 13.2% |
The median household income in New Hanover County is about 4% higher than in North Carolina. Income has been growing slower in New Hanover County (5.1%/yr) than in North Carolina (5.4%/yr).
About 13% of adults in New Hanover County earn six figures ($100,000 or more) a year, higher than the North Carolina average of 11%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in New Hanover County, North Carolina grew by 53.2% from 2009 to 2023, reaching $72,633 in 2023. That's an average of about 5.1% per year.
Economic Inequality in New Hanover County | Gender Pay Gap | Gini Coefficient
| Metric | New Hanover County | North Carolina Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.569 | 0.561 | 0.570 |
| Male Median Income | $63,758 | $60,778 | $67,746 |
| Female Median Income | $53,511 | $50,560 | $54,793 |
| Gender Pay Gap | 16.1% | 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 New Hanover County, it is 0.569, higher than North Carolina's 0.561, so income is less evenly distributed here than there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 19% more than women's income in New Hanover County, North Carolina. Over a 35-year career, a 19% wage gap accumulates to roughly $358,645 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in New Hanover County, North Carolina has narrowed from about 25% to 16% in 2023. In dollar terms, the gap has narrowed by $882 since 2009.
Employment
| Metric | New Hanover County | North Carolina Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.7% | 4.7% | 5.2% |
| Working from Home | 17.8% | 14.5% | 13.4% |
| Commute time (minutes) | 18 | 21 | 22 |
Approximately 5,904 people are unemployed in New Hanover County, North Carolina.
The average commute time in New Hanover County is 18 minutes, shorter than the 21 minutes in North Carolina.
Unemployment Rate Over Time
Since 2011, the unemployment rate in New Hanover County, North Carolina has fallen from 9.0% to 4.7% in 2023.
Conclusion
Considering all these factors, New Hanover County, North Carolina has an overall wealth index grade of C, making it somewhat better than North Carolina, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in New Hanover County, North Carolina.
How Rich Is New Hanover County, North Carolina?
New Hanover County has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $72,633, about 4% higher than the North Carolina average of $69,937.
What is the current median household income in New Hanover County, North Carolina?
As of 2023, the median household income in New Hanover County, North Carolina is $72,633.
What was the median household income in New Hanover County in 2023?
In 2023, the median household income in New Hanover County, North Carolina was $72,633.
What was the median household income in New Hanover County in 2020?
In 2020, the median household income in New Hanover County, North Carolina was $57,117.
What is the Gini coefficient in New Hanover County, North Carolina?
The Gini coefficient in New Hanover County is 0.569. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in New Hanover County, North Carolina?
Since 2009, the income gap between men and women in New Hanover County, North Carolina has narrowed from about 25% to 16% in 2023. In dollar terms, the gap has narrowed by $882 since 2009.