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 | Lexington County | South Carolina Avg | US Average |
|---|---|---|---|
| Median Household Income | $75,016 | $66,957 | $78,145 |
| Median Personal Income | $56,664 | $53,955 | $61,726 |
| Average income growth | 4.3% | 5.2% | 5.1% |
| Six-Figure Earners | 10.4% | 9.9% | 13.2% |
The median household income in Lexington County is about 12% higher than in South Carolina. Income has been growing slower in Lexington County (4.3%/yr) than in South Carolina (5.2%/yr).
About 10% of adults in Lexington County earn six figures ($100,000 or more) a year, about the same as the South Carolina average of 10%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Lexington County, South Carolina grew by 44.0% from 2009 to 2023, reaching $75,016 in 2023. That's an average of about 4.3% per year.
Economic Inequality in Lexington County | Gender Pay Gap | Gini Coefficient
| Metric | Lexington County | South Carolina Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.535 | 0.557 | 0.570 |
| Male Median Income | $63,307 | $60,785 | $67,746 |
| Female Median Income | $49,876 | $47,591 | $54,793 |
| Gender Pay Gap | 21.2% | 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 Lexington 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 27% more than women's income in Lexington County, South Carolina. Over a 35-year career, a 27% wage gap accumulates to roughly $470,085 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Lexington County, South Carolina has narrowed from about 23% to 21% in 2023. In dollar terms, the gap has widened by $2,949 since 2009.
Employment
| Metric | Lexington County | South Carolina Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.2% | 4.9% | 5.2% |
| Working from Home | 10.2% | 10.0% | 13.4% |
| Commute time (minutes) | 22 | 22 | 22 |
Approximately 6,399 people are unemployed in Lexington County, South Carolina.
The average commute time in Lexington County is 22 minutes, about the same as in South Carolina.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Lexington County, South Carolina has fallen from 7.6% to 4.2% in 2023.
Conclusion
Considering all these factors, Lexington 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 Lexington County, South Carolina.
How Rich Is Lexington County, South Carolina?
Lexington 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 $75,016, about 12% higher than the South Carolina average of $66,957.
What is the current median household income in Lexington County, South Carolina?
As of 2023, the median household income in Lexington County, South Carolina is $75,016.
What was the median household income in Lexington County in 2023?
In 2023, the median household income in Lexington County, South Carolina was $75,016.
What was the median household income in Lexington County in 2020?
In 2020, the median household income in Lexington County, South Carolina was $62,827.
What is the Gini coefficient in Lexington County, South Carolina?
The Gini coefficient in Lexington 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 Lexington County, South Carolina?
Since 2009, the income gap between men and women in Lexington County, South Carolina has narrowed from about 23% to 21% in 2023. In dollar terms, the gap has widened by $2,949 since 2009.