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 | Oconee County | South Carolina Avg | US Average |
|---|---|---|---|
| Median Household Income | $60,181 | $66,957 | $78,145 |
| Median Personal Income | $51,552 | $53,955 | $61,726 |
| Average income growth | 5.3% | 5.2% | 5.1% |
| Six-Figure Earners | 9.5% | 9.9% | 13.2% |
The median household income in Oconee County is about 10% lower than in South Carolina. Income has been growing faster in Oconee County (5.3%/yr) than in South Carolina (5.2%/yr).
About 9% of adults in Oconee 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 Oconee County, South Carolina grew by 46.4% from 2009 to 2023, reaching $60,181 in 2023. That's an average of about 5.3% per year.
Economic Inequality in Oconee County | Gender Pay Gap | Gini Coefficient
| Metric | Oconee County | South Carolina Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.556 | 0.557 | 0.570 |
| Male Median Income | $58,409 | $60,785 | $67,746 |
| Female Median Income | $46,335 | $47,591 | $54,793 |
| Gender Pay Gap | 20.7% | 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 Oconee County, it is 0.556, about the same as South Carolina's 0.557, so income here is about as evenly distributed as there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 26% more than women's income in Oconee County, South Carolina. Over a 35-year career, a 26% wage gap accumulates to roughly $422,590 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Oconee County, South Carolina has narrowed from about 26% to 21% in 2023. In dollar terms, the gap has widened by $1,373 since 2009.
Employment
| Metric | Oconee County | South Carolina Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.1% | 4.9% | 5.2% |
| Working from Home | 8.6% | 10.0% | 13.4% |
| Commute time (minutes) | 18 | 22 | 22 |
Approximately 2,103 people are unemployed in Oconee County, South Carolina.
The average commute time in Oconee County is 18 minutes, shorter than the 22 minutes in South Carolina.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Oconee County, South Carolina has fallen from 11.5% to 6.1% in 2023.
Conclusion
Considering all these factors, Oconee 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 Oconee County, South Carolina.
How Wealthy Is Oconee County, South Carolina?
Oconee 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 $60,181, about 10% lower than the South Carolina average of $66,957.
What is the current median household income in Oconee County, South Carolina?
As of 2023, the median household income in Oconee County, South Carolina is $60,181.
What was the median household income in Oconee County in 2023?
In 2023, the median household income in Oconee County, South Carolina was $60,181.
What was the median household income in Oconee County in 2020?
In 2020, the median household income in Oconee County, South Carolina was $49,649.
What is the Gini coefficient in Oconee County, South Carolina?
The Gini coefficient in Oconee County is 0.556. 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 Oconee County, South Carolina?
Since 2009, the income gap between men and women in Oconee County, South Carolina has narrowed from about 26% to 21% in 2023. In dollar terms, the gap has widened by $1,373 since 2009.