Wealth Index
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 | Edgefield County | South Carolina Avg | US Average |
|---|---|---|---|
| Median Household Income | $67,257 | $66,957 | $78,145 |
| Median Personal Income | $53,208 | $53,955 | $61,726 |
| Average income growth | 5.0% | 5.2% | 5.1% |
| Six-Figure Earners | 7.8% | 9.9% | 13.2% |
The median household income in Edgefield County is about the same as in South Carolina. Income has been growing slower in Edgefield County (5.0%/yr) than in South Carolina (5.2%/yr).
About 8% of adults in Edgefield 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 Edgefield County, South Carolina grew by 51.2% from 2009 to 2023, reaching $67,257 in 2023. That's an average of about 5.0% per year.
Economic Inequality in Edgefield County | Gender Pay Gap | Gini Coefficient
| Metric | Edgefield County | South Carolina Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.598 | 0.557 | 0.570 |
| Male Median Income | $61,595 | $60,785 | $67,746 |
| Female Median Income | $48,934 | $47,591 | $54,793 |
| Gender Pay Gap | 20.6% | 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 Edgefield County, it is 0.598, higher than South Carolina's 0.557, 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 26% more than women's income in Edgefield County, South Carolina. Over a 35-year career, a 26% wage gap accumulates to roughly $443,135 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Edgefield County, South Carolina has narrowed from about 25% to 21% in 2023. In dollar terms, the gap has widened by $2,158 since 2009.
Employment
| Metric | Edgefield County | South Carolina Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.8% | 4.9% | 5.2% |
| Working from Home | 6.0% | 10.0% | 13.4% |
| Commute time (minutes) | 23 | 22 | 22 |
Approximately 707 people are unemployed in Edgefield County, South Carolina.
The average commute time in Edgefield County is 23 minutes, longer than the 22 minutes in South Carolina.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Edgefield County, South Carolina has fallen from 8.8% to 5.8% in 2023.
Conclusion
Considering all these factors, Edgefield 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 Edgefield County, South Carolina.
How Wealthy Is Edgefield County, South Carolina?
Edgefield 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 $67,257, close to the South Carolina average of $66,957.
What is the current median household income in Edgefield County, South Carolina?
As of 2023, the median household income in Edgefield County, South Carolina is $67,257.
What was the median household income in Edgefield County in 2023?
In 2023, the median household income in Edgefield County, South Carolina was $67,257.
What was the median household income in Edgefield County in 2020?
In 2020, the median household income in Edgefield County, South Carolina was $52,472.
What is the Gini coefficient in Edgefield County, South Carolina?
The Gini coefficient in Edgefield County is 0.598. 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 Edgefield County, South Carolina?
Since 2009, the income gap between men and women in Edgefield County, South Carolina has narrowed from about 25% to 21% in 2023. In dollar terms, the gap has widened by $2,158 since 2009.