Wealth Index
Less wealthy than 73% of states in US
The wealth index reflects the overall economic prosperity and financial well-being of a state's residents based on income levels, employment rates, and income inequality metrics.
Wealthiest and Least Wealthy Counties in North Carolina
- Wake County (115% of U.S. avg)
- Union County (111% of U.S. avg)
- Chatham County (110% of U.S. avg)
- Scotland County (72% of U.S. avg)
- Hyde County (72% of U.S. avg)
- Tyrrell County (73% of U.S. avg)
Ranked by the Map AI Wealth Index, which combines income, employment, and income inequality metrics.
Income Statistics Overview
| Metric | North Carolina | US Average |
|---|---|---|
| Median Household Income | $69,937 | $78,145 |
| Median Personal Income | $55,581 | $61,726 |
| Average income growth | 5.4% | 5.1% |
| Six-Figure Earners | 11.0% | 13.2% |
The median household income in North Carolina is about 11% lower than in US. Income has been growing faster in North Carolina (5.4%/yr) than in US (5.1%/yr).
About 11% of adults in North Carolina earn six figures ($100,000 or more) a year, lower than the US average of 13%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in North Carolina grew by 55.2% from 2009 to 2023, reaching $69,937 in 2023. That's an average of about 5.4% per year.
Economic Inequality in North Carolina | Gender Pay Gap | Gini Coefficient
| Metric | North Carolina | US Average |
|---|---|---|
| Gini Coefficient | 0.561 | 0.570 |
| Male Median Income | $60,778 | $67,746 |
| Female Median Income | $50,560 | $54,793 |
| Gender Pay Gap | 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 North Carolina, it is 0.561, lower than 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 North Carolina. Over a 35-year career, a 20% wage gap accumulates to roughly $357,630 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in North Carolina has narrowed from about 20% to 17% in 2023. In dollar terms, the gap has widened by $1,994 since 2009.
Employment
| Metric | North Carolina | US Average |
|---|---|---|
| Unemployment Rate | 4.7% | 5.2% |
| Working from Home | 14.5% | 13.4% |
| Commute time (minutes) | 21 | 22 |
Approximately 253,202 people are unemployed in North Carolina.
The average commute time in North Carolina is 21 minutes, shorter than the 22 minutes in US.
Unemployment Rate Over Time
Since 2011, the unemployment rate in North Carolina has fallen from 9.5% to 4.7% in 2023.
Conclusion
Considering all these factors, North Carolina has an overall wealth index grade of C, making it about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in North Carolina.
How Rich Is North Carolina?
North Carolina 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 $69,937, about 11% lower than the US average of $78,145.
What is the current median household income in North Carolina?
As of 2023, the median household income in North Carolina is $69,937.
What was the median household income in North Carolina in 2023?
In 2023, the median household income in North Carolina was $69,937.
What was the median household income in North Carolina in 2020?
In 2020, the median household income in North Carolina was $57,007.
What is the Gini coefficient in North Carolina?
The Gini coefficient in North Carolina is 0.561. 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 North Carolina?
Since 2009, the income gap between men and women in North Carolina has narrowed from about 20% to 17% in 2023. In dollar terms, the gap has widened by $1,994 since 2009.