Wealth Index
Wealthier than 73% 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 | Georgetown County | South Carolina Avg | US Average |
|---|---|---|---|
| Median Household Income | $65,244 | $66,957 | $78,145 |
| Median Personal Income | $52,974 | $53,955 | $61,726 |
| Average income growth | 5.4% | 5.2% | 5.1% |
| Six-Figure Earners | 10.5% | 9.9% | 13.2% |
The median household income in Georgetown County is about 3% lower than in South Carolina. Income has been growing faster in Georgetown County (5.4%/yr) than in South Carolina (5.2%/yr).
About 11% of adults in Georgetown 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 Georgetown County, South Carolina grew by 54.0% from 2009 to 2023, reaching $65,244 in 2023. That's an average of about 5.4% per year.
Economic Inequality in Georgetown County | Gender Pay Gap | Gini Coefficient
| Metric | Georgetown County | South Carolina Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.569 | 0.557 | 0.570 |
| Male Median Income | $59,345 | $60,785 | $67,746 |
| Female Median Income | $45,418 | $47,591 | $54,793 |
| Gender Pay Gap | 23.5% | 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 Georgetown County, it is 0.569, 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 31% more than women's income in Georgetown County, South Carolina. Over a 35-year career, a 31% wage gap accumulates to roughly $487,445 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Georgetown County, South Carolina has narrowed from about 28% to 23% in 2023. In dollar terms, the gap has widened by $2,367 since 2009.
Employment
| Metric | Georgetown County | South Carolina Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.1% | 4.9% | 5.2% |
| Working from Home | 9.6% | 10.0% | 13.4% |
| Commute time (minutes) | 22 | 22 | 22 |
Approximately 1,414 people are unemployed in Georgetown County, South Carolina.
The average commute time in Georgetown County is 22 minutes, about the same as in South Carolina.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Georgetown County, South Carolina has fallen from 12.3% to 5.1% in 2023.
Conclusion
Considering all these factors, Georgetown County, South Carolina has an overall wealth index grade of C, making it about on par with South Carolina, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Georgetown County, South Carolina.
How Rich Is Georgetown County, South Carolina?
Georgetown County 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 $65,244, about 3% lower than the South Carolina average of $66,957.
What is the current median household income in Georgetown County, South Carolina?
As of 2023, the median household income in Georgetown County, South Carolina is $65,244.
What was the median household income in Georgetown County in 2023?
In 2023, the median household income in Georgetown County, South Carolina was $65,244.
What was the median household income in Georgetown County in 2020?
In 2020, the median household income in Georgetown County, South Carolina was $53,059.
What is the Gini coefficient in Georgetown County, South Carolina?
The Gini coefficient in Georgetown County is 0.569. 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 Georgetown County, South Carolina?
Since 2009, the income gap between men and women in Georgetown County, South Carolina has narrowed from about 28% to 23% in 2023. In dollar terms, the gap has widened by $2,367 since 2009.