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 | Pickens County | South Carolina Avg | US Average |
|---|---|---|---|
| Median Household Income | $59,439 | $66,957 | $78,145 |
| Median Personal Income | $50,761 | $53,955 | $61,726 |
| Average income growth | 4.5% | 5.2% | 5.1% |
| Six-Figure Earners | 6.9% | 9.9% | 13.2% |
The median household income in Pickens County is about 11% lower than in South Carolina. Income has been growing slower in Pickens County (4.5%/yr) than in South Carolina (5.2%/yr).
About 7% of adults in Pickens 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 Pickens County, South Carolina grew by 42.1% from 2009 to 2023, reaching $59,439 in 2023. That's an average of about 4.5% per year.
Economic Inequality in Pickens County | Gender Pay Gap | Gini Coefficient
| Metric | Pickens County | South Carolina Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.575 | 0.557 | 0.570 |
| Male Median Income | $57,342 | $60,785 | $67,746 |
| Female Median Income | $43,943 | $47,591 | $54,793 |
| Gender Pay Gap | 23.4% | 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 Pickens County, it is 0.575, higher than South Carolina's 0.557, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 30% more than women's income in Pickens County, South Carolina. Over a 35-year career, a 30% wage gap accumulates to roughly $468,965 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Pickens County, South Carolina has narrowed from about 25% to 23% in 2023. In dollar terms, the gap has widened by $3,023 since 2009.
Employment
| Metric | Pickens County | South Carolina Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.5% | 4.9% | 5.2% |
| Working from Home | 9.1% | 10.0% | 13.4% |
| Commute time (minutes) | 23 | 22 | 22 |
Approximately 2,240 people are unemployed in Pickens County, South Carolina.
The average commute time in Pickens County is 23 minutes, longer than the 22 minutes in South Carolina.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Pickens County, South Carolina has fallen from 10.2% to 3.5% in 2023.
Conclusion
Considering all these factors, Pickens 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 Pickens County, South Carolina.
How Rich Is Pickens County, South Carolina?
Pickens 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 $59,439, about 11% lower than the South Carolina average of $66,957.
What is the current median household income in Pickens County, South Carolina?
As of 2023, the median household income in Pickens County, South Carolina is $59,439.
What was the median household income in Pickens County in 2023?
In 2023, the median household income in Pickens County, South Carolina was $59,439.
What was the median household income in Pickens County in 2020?
In 2020, the median household income in Pickens County, South Carolina was $51,538.
What is the Gini coefficient in Pickens County, South Carolina?
The Gini coefficient in Pickens County is 0.575. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Pickens County, South Carolina?
Since 2009, the income gap between men and women in Pickens County, South Carolina has narrowed from about 25% to 23% in 2023. In dollar terms, the gap has widened by $3,023 since 2009.