Wealth Index
Among the top 5 wealthiest 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 | Berkeley County | South Carolina Avg | US Average |
|---|---|---|---|
| Median Household Income | $82,696 | $66,957 | $78,145 |
| Median Personal Income | $56,732 | $53,955 | $61,726 |
| Average income growth | 6.0% | 5.2% | 5.1% |
| Six-Figure Earners | 10.8% | 9.9% | 13.2% |
The median household income in Berkeley County is about 24% higher than in South Carolina. Income has been growing faster in Berkeley County (6.0%/yr) than in South Carolina (5.2%/yr).
About 11% of adults in Berkeley County earn six figures ($100,000 or more) a year, higher than the South Carolina average of 10%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Berkeley County, South Carolina grew by 68.0% from 2009 to 2023, reaching $82,696 in 2023. That's an average of about 6.0% per year.
Economic Inequality in Berkeley County | Gender Pay Gap | Gini Coefficient
| Metric | Berkeley County | South Carolina Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.535 | 0.557 | 0.570 |
| Male Median Income | $64,704 | $60,785 | $67,746 |
| Female Median Income | $47,602 | $47,591 | $54,793 |
| Gender Pay Gap | 26.4% | 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 Berkeley County, it is 0.535, 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 36% more than women's income in Berkeley County, South Carolina. Over a 35-year career, a 36% wage gap accumulates to roughly $598,570 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Berkeley County, South Carolina has widened from about 22% to 26% in 2023. In dollar terms, the gap has widened by $8,556 since 2009.
Employment
| Metric | Berkeley County | South Carolina Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.4% | 4.9% | 5.2% |
| Working from Home | 10.2% | 10.0% | 13.4% |
| Commute time (minutes) | 27 | 22 | 22 |
Approximately 4,269 people are unemployed in Berkeley County, South Carolina.
The average commute time in Berkeley County is 27 minutes, longer than the 22 minutes in South Carolina.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Berkeley County, South Carolina has fallen from 9.5% to 3.4% in 2023.
Conclusion
Considering all these factors, Berkeley County, South Carolina has an overall wealth index grade of B, making it somewhat better than South Carolina, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Berkeley County, South Carolina.
How Rich Is Berkeley County, South Carolina?
Berkeley County has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $82,696, about 24% higher than the South Carolina average of $66,957.
What is the current median household income in Berkeley County, South Carolina?
As of 2023, the median household income in Berkeley County, South Carolina is $82,696.
What was the median household income in Berkeley County in 2023?
In 2023, the median household income in Berkeley County, South Carolina was $82,696.
What was the median household income in Berkeley County in 2020?
In 2020, the median household income in Berkeley County, South Carolina was $65,416.
What is the Gini coefficient in Berkeley County, South Carolina?
The Gini coefficient in Berkeley County is 0.535. 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 Berkeley County, South Carolina?
Since 2009, the income gap between men and women in Berkeley County, South Carolina has widened from about 22% to 26% in 2023. In dollar terms, the gap has widened by $8,556 since 2009.