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 | Newberry County | South Carolina Avg | US Average |
|---|---|---|---|
| Median Household Income | $59,526 | $66,957 | $78,145 |
| Median Personal Income | $47,975 | $53,955 | $61,726 |
| Average income growth | 5.9% | 5.2% | 5.1% |
| Six-Figure Earners | 6.9% | 9.9% | 13.2% |
The median household income in Newberry County is about 11% lower than in South Carolina. Income has been growing faster in Newberry County (5.9%/yr) than in South Carolina (5.2%/yr).
About 7% of adults in Newberry 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 Newberry County, South Carolina grew by 44.9% from 2009 to 2023, reaching $59,526 in 2023. That's an average of about 5.9% per year.
Economic Inequality in Newberry County | Gender Pay Gap | Gini Coefficient
| Metric | Newberry County | South Carolina Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.537 | 0.557 | 0.570 |
| Male Median Income | $49,306 | $60,785 | $67,746 |
| Female Median Income | $45,766 | $47,591 | $54,793 |
| Gender Pay Gap | 7.2% | 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 Newberry County, it is 0.537, 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 8% more than women's income in Newberry County, South Carolina. Over a 35-year career, a 8% wage gap accumulates to roughly $123,900 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Newberry County, South Carolina has narrowed from about 25% to 7% in 2023. In dollar terms, the gap has narrowed by $5,853 since 2009.
Employment
| Metric | Newberry County | South Carolina Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.6% | 4.9% | 5.2% |
| Working from Home | 4.1% | 10.0% | 13.4% |
| Commute time (minutes) | 21 | 22 | 22 |
Approximately 644 people are unemployed in Newberry County, South Carolina.
The average commute time in Newberry County is 21 minutes, shorter than the 22 minutes in South Carolina.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Newberry County, South Carolina has fallen from 9.3% to 3.6% in 2023.
Conclusion
Considering all these factors, Newberry County, South Carolina has an overall wealth index grade of D, making it about on par with South Carolina, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Newberry County, South Carolina.
How Rich Is Newberry County, South Carolina?
Newberry 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 $59,526, about 11% lower than the South Carolina average of $66,957.
What is the current median household income in Newberry County, South Carolina?
As of 2023, the median household income in Newberry County, South Carolina is $59,526.
What was the median household income in Newberry County in 2023?
In 2023, the median household income in Newberry County, South Carolina was $59,526.
What was the median household income in Newberry County in 2020?
In 2020, the median household income in Newberry County, South Carolina was $46,360.
What is the Gini coefficient in Newberry County, South Carolina?
The Gini coefficient in Newberry County is 0.537. 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 Newberry County, South Carolina?
Since 2009, the income gap between men and women in Newberry County, South Carolina has narrowed from about 25% to 7% in 2023. In dollar terms, the gap has narrowed by $5,853 since 2009.