Wealth Index
Less wealthy than 78% of states in US
The wealth index reflects the overall economic prosperity and financial well-being of a state's residents based on income levels, employment rates, and income inequality metrics.
Wealthiest and Least Wealthy Counties in South Carolina
- York County (108% of U.S. avg)
- Charleston County (106% of U.S. avg)
- Beaufort County (103% of U.S. avg)
- Allendale County (67% of U.S. avg)
- Marlboro County (69% of U.S. avg)
- Dillon County (72% of U.S. avg)
Ranked by the Map AI Wealth Index, which combines income, employment, and income inequality metrics.
Income Statistics Overview
| Metric | South Carolina | US Average |
|---|---|---|
| Median Household Income | $66,957 | $78,145 |
| Median Personal Income | $53,955 | $61,726 |
| Average income growth | 5.2% | 5.1% |
| Six-Figure Earners | 9.9% | 13.2% |
The median household income in South Carolina is about 14% lower than in US. Income has been growing faster in South Carolina (5.2%/yr) than in US (5.1%/yr).
About 10% of adults in South Carolina earn six figures ($100,000 or more) a year, lower than the US average of 13%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in South Carolina grew by 53.5% from 2009 to 2023, reaching $66,957 in 2023. That's an average of about 5.2% per year.
Economic Inequality in South Carolina | Gender Pay Gap | Gini Coefficient
| Metric | South Carolina | US Average |
|---|---|---|
| Gini Coefficient | 0.557 | 0.570 |
| Male Median Income | $60,785 | $67,746 |
| Female Median Income | $47,591 | $54,793 |
| Gender Pay Gap | 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 South Carolina, it is 0.557, lower than US's 0.570, so income is more evenly distributed here than there.
Men's income is about 28% more than women's income in South Carolina. Over a 35-year career, a 28% wage gap accumulates to roughly $461,790 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in South Carolina has narrowed from about 23% to 22% in 2023. In dollar terms, the gap has widened by $3,493 since 2009.
Employment
| Metric | South Carolina | US Average |
|---|---|---|
| Unemployment Rate | 4.9% | 5.2% |
| Working from Home | 10.0% | 13.4% |
| Commute time (minutes) | 22 | 22 |
Approximately 124,496 people are unemployed in South Carolina.
The average commute time in South Carolina is 22 minutes, about the same as in US.
Unemployment Rate Over Time
Since 2011, the unemployment rate in South Carolina has fallen from 10.0% to 4.9% in 2023.
Conclusion
Considering all these factors, South Carolina has an overall wealth index grade of C, making it about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in South Carolina.
How Rich Is South Carolina?
South Carolina 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 $66,957, about 14% lower than the US average of $78,145.
What is the current median household income in South Carolina?
As of 2023, the median household income in South Carolina is $66,957.
What was the median household income in South Carolina in 2023?
In 2023, the median household income in South Carolina was $66,957.
What was the median household income in South Carolina in 2020?
In 2020, the median household income in South Carolina was $55,255.
What is the Gini coefficient in South Carolina?
The Gini coefficient in South Carolina is 0.557. 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 South Carolina?
Since 2009, the income gap between men and women in South Carolina has narrowed from about 23% to 22% in 2023. In dollar terms, the gap has widened by $3,493 since 2009.