Wealth Index
Less wealthy than 72% of counties in Virginia
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 | Halifax County | Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $48,965 | $91,409 | $78,145 |
| Median Personal Income | $47,318 | $68,517 | $61,726 |
| Average income growth | 4.1% | 4.6% | 5.1% |
| Six-Figure Earners | 5.0% | 17.6% | 13.2% |
The median household income in Halifax County is about 46% lower than in Virginia. Income has been growing slower in Halifax County (4.1%/yr) than in Virginia (4.6%/yr).
About 5% of adults in Halifax County earn six figures ($100,000 or more) a year, lower than the Virginia average of 18%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Halifax County, Virginia grew by 43.0% from 2009 to 2023, reaching $48,965 in 2023. That's an average of about 4.1% per year.
Economic Inequality in Halifax County | Gender Pay Gap | Gini Coefficient
| Metric | Halifax County | Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.537 | 0.565 | 0.570 |
| Male Median Income | $50,509 | $76,014 | $67,746 |
| Female Median Income | $43,357 | $60,748 | $54,793 |
| Gender Pay Gap | 14.2% | 20.1% | 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 Halifax County, it is 0.537, lower than Virginia's 0.565, 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 16% more than women's income in Halifax County, Virginia. Over a 35-year career, a 16% wage gap accumulates to roughly $250,320 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Halifax County, Virginia has narrowed from about 26% to 14% in 2023. In dollar terms, the gap has narrowed by $3,306 since 2009.
Employment
| Metric | Halifax County | Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.0% | 4.2% | 5.2% |
| Working from Home | 6.4% | 16.2% | 13.4% |
| Commute time (minutes) | 20 | 23 | 22 |
Approximately 565 people are unemployed in Halifax County, Virginia.
The average commute time in Halifax County is 20 minutes, shorter than the 23 minutes in Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Halifax County, Virginia has fallen from 10.5% to 4.0% in 2023.
Conclusion
Considering all these factors, Halifax County, Virginia has an overall wealth index grade of D, making it somewhat worse than Virginia, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Halifax County, Virginia.
How Rich Is Halifax County, Virginia?
Halifax 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 $48,965, about 46% lower than the Virginia average of $91,409.
What is the current median household income in Halifax County, Virginia?
As of 2023, the median household income in Halifax County, Virginia is $48,965.
What was the median household income in Halifax County in 2023?
In 2023, the median household income in Halifax County, Virginia was $48,965.
What was the median household income in Halifax County in 2020?
In 2020, the median household income in Halifax County, Virginia was $43,737.
What is the Gini coefficient in Halifax County, Virginia?
The Gini coefficient in Halifax 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 Halifax County, Virginia?
Since 2009, the income gap between men and women in Halifax County, Virginia has narrowed from about 26% to 14% in 2023. In dollar terms, the gap has narrowed by $3,306 since 2009.