Wealth Index
Less wealthy than 71% 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 | Fairfield County | South Carolina Avg | US Average |
|---|---|---|---|
| Median Household Income | $48,086 | $66,957 | $78,145 |
| Median Personal Income | $47,103 | $53,955 | $61,726 |
| Average income growth | 5.2% | 5.2% | 5.1% |
| Six-Figure Earners | 6.6% | 9.9% | 13.2% |
The median household income in Fairfield County is about 28% lower than in South Carolina. Income has been growing slower in Fairfield County (5.2%/yr) than in South Carolina (5.2%/yr).
About 7% of adults in Fairfield 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 Fairfield County, South Carolina grew by 46.7% from 2009 to 2023, reaching $48,086 in 2023. That's an average of about 5.2% per year.
Economic Inequality in Fairfield County | Gender Pay Gap | Gini Coefficient
| Metric | Fairfield County | South Carolina Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.571 | 0.557 | 0.570 |
| Male Median Income | $54,283 | $60,785 | $67,746 |
| Female Median Income | $39,696 | $47,591 | $54,793 |
| Gender Pay Gap | 26.9% | 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 Fairfield County, it is 0.571, higher than South Carolina's 0.557, so income is less evenly distributed here than there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 37% more than women's income in Fairfield County, South Carolina. Over a 35-year career, a 37% wage gap accumulates to roughly $510,545 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Fairfield County, South Carolina has widened from about 19% to 27% in 2023. In dollar terms, the gap has widened by $7,371 since 2009.
Employment
| Metric | Fairfield County | South Carolina Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.5% | 4.9% | 5.2% |
| Working from Home | 4.3% | 10.0% | 13.4% |
| Commute time (minutes) | 31 | 22 | 22 |
Approximately 558 people are unemployed in Fairfield County, South Carolina.
The average commute time in Fairfield County is 31 minutes, longer than the 22 minutes in South Carolina.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Fairfield County, South Carolina has fallen from 10.5% to 5.5% in 2023.
Conclusion
Considering all these factors, Fairfield 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 Fairfield County, South Carolina.
How Rich Is Fairfield County, South Carolina?
Fairfield 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 $48,086, about 28% lower than the South Carolina average of $66,957.
What is the current median household income in Fairfield County, South Carolina?
As of 2023, the median household income in Fairfield County, South Carolina is $48,086.
What was the median household income in Fairfield County in 2023?
In 2023, the median household income in Fairfield County, South Carolina was $48,086.
What was the median household income in Fairfield County in 2020?
In 2020, the median household income in Fairfield County, South Carolina was $43,261.
What is the Gini coefficient in Fairfield County, South Carolina?
The Gini coefficient in Fairfield County is 0.571. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Fairfield County, South Carolina?
Since 2009, the income gap between men and women in Fairfield County, South Carolina has widened from about 19% to 27% in 2023. In dollar terms, the gap has widened by $7,371 since 2009.