Wealth Index
Less wealthy than 87% of counties in South 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 | Bamberg County | South Carolina Avg | US Average |
|---|---|---|---|
| Median Household Income | $42,397 | $66,957 | $78,145 |
| Median Personal Income | $42,862 | $53,955 | $61,726 |
| Average income growth | 4.6% | 5.2% | 5.1% |
| Six-Figure Earners | 2.0% | 9.9% | 13.2% |
The median household income in Bamberg County is about 37% lower than in South Carolina. Income has been growing slower in Bamberg County (4.6%/yr) than in South Carolina (5.2%/yr).
About 2% of adults in Bamberg County earn six figures ($100,000 or more) a year, lower than the South Carolina average of 10%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Bamberg County, South Carolina grew by 37.4% from 2009 to 2023, reaching $42,397 in 2023. That's an average of about 4.6% per year.
Economic Inequality in Bamberg County | Gender Pay Gap | Gini Coefficient
| Metric | Bamberg County | South Carolina Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.552 | 0.557 | 0.570 |
| Male Median Income | $46,242 | $60,785 | $67,746 |
| Female Median Income | $40,287 | $47,591 | $54,793 |
| Gender Pay Gap | 12.9% | 21.7% | 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 Bamberg County, it is 0.552, lower than South Carolina's 0.557, so income is more evenly distributed here than there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 15% more than women's income in Bamberg County, South Carolina. Over a 35-year career, a 15% wage gap accumulates to roughly $208,425 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Bamberg County, South Carolina has narrowed from about 17% to 13% in 2023. In dollar terms, the gap has widened by $447 since 2009.
Employment
| Metric | Bamberg County | South Carolina Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 11.8% | 4.9% | 5.2% |
| Working from Home | 8.0% | 10.0% | 13.4% |
| Commute time (minutes) | 25 | 22 | 22 |
Approximately 690 people are unemployed in Bamberg County, South Carolina.
The average commute time in Bamberg County is 25 minutes, longer than the 22 minutes in South Carolina.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Bamberg County, South Carolina has risen from 9.4% to 11.8% in 2023.
Conclusion
Considering all these factors, Bamberg County, South Carolina has an overall wealth index grade of D, making it somewhat worse than South Carolina, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Bamberg County, South Carolina.
How Rich Is Bamberg County, South Carolina?
Bamberg 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 $42,397, about 37% lower than the South Carolina average of $66,957.
What is the current median household income in Bamberg County, South Carolina?
As of 2023, the median household income in Bamberg County, South Carolina is $42,397.
What was the median household income in Bamberg County in 2023?
In 2023, the median household income in Bamberg County, South Carolina was $42,397.
What was the median household income in Bamberg County in 2020?
In 2020, the median household income in Bamberg County, South Carolina was $42,121.
What is the Gini coefficient in Bamberg County, South Carolina?
The Gini coefficient in Bamberg County is 0.552. 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 Bamberg County, South Carolina?
Since 2009, the income gap between men and women in Bamberg County, South Carolina has narrowed from about 17% to 13% in 2023. In dollar terms, the gap has widened by $447 since 2009.