Wealth Index
Less wealthy than 77% 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 | Watauga County | North Carolina Avg | US Average |
|---|---|---|---|
| Median Household Income | $51,880 | $69,937 | $78,145 |
| Median Personal Income | $50,900 | $55,581 | $61,726 |
| Average income growth | 4.0% | 5.4% | 5.1% |
| Six-Figure Earners | 7.4% | 11.0% | 13.2% |
The median household income in Watauga County is about 26% lower than in North Carolina. Income has been growing slower in Watauga County (4.0%/yr) than in North Carolina (5.4%/yr).
About 7% of adults in Watauga 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 Watauga County, North Carolina grew by 54.7% from 2009 to 2023, reaching $51,880 in 2023. That's an average of about 4.0% per year.
Economic Inequality in Watauga County | Gender Pay Gap | Gini Coefficient
| Metric | Watauga County | North Carolina Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.620 | 0.561 | 0.570 |
| Male Median Income | $56,550 | $60,778 | $67,746 |
| Female Median Income | $47,376 | $50,560 | $54,793 |
| Gender Pay Gap | 16.2% | 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 Watauga County, it is 0.620, higher than North Carolina's 0.561, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 19% more than women's income in Watauga County, North Carolina. Over a 35-year career, a 19% wage gap accumulates to roughly $321,090 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Watauga County, North Carolina has narrowed from about 23% to 16% in 2023. In dollar terms, the gap has widened by $492 since 2009.
Employment
| Metric | Watauga County | North Carolina Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 9.0% | 4.7% | 5.2% |
| Working from Home | 9.6% | 14.5% | 13.4% |
| Commute time (minutes) | 17 | 21 | 22 |
Approximately 2,621 people are unemployed in Watauga County, North Carolina.
The average commute time in Watauga County is 17 minutes, shorter than the 21 minutes in North Carolina.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Watauga County, North Carolina has risen from 8.7% to 9.0% in 2023.
Conclusion
Considering all these factors, Watauga 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 Watauga County, North Carolina.
How Rich Is Watauga County, North Carolina?
Watauga 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 $51,880, about 26% lower than the North Carolina average of $69,937.
What is the current median household income in Watauga County, North Carolina?
As of 2023, the median household income in Watauga County, North Carolina is $51,880.
What was the median household income in Watauga County in 2023?
In 2023, the median household income in Watauga County, North Carolina was $51,880.
What was the median household income in Watauga County in 2020?
In 2020, the median household income in Watauga County, North Carolina was $46,594.
What is the Gini coefficient in Watauga County, North Carolina?
The Gini coefficient in Watauga County is 0.620. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Watauga County, North Carolina?
Since 2009, the income gap between men and women in Watauga County, North Carolina has narrowed from about 23% to 16% in 2023. In dollar terms, the gap has widened by $492 since 2009.