Wealth Index
Less wealthy than 74% 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 | Mecklenburg County | Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $51,580 | $91,409 | $78,145 |
| Median Personal Income | $50,652 | $68,517 | $61,726 |
| Average income growth | 3.9% | 4.6% | 5.1% |
| Six-Figure Earners | 6.7% | 17.6% | 13.2% |
The median household income in Mecklenburg County is about 44% lower than in Virginia. Income has been growing slower in Mecklenburg County (3.9%/yr) than in Virginia (4.6%/yr).
About 7% of adults in Mecklenburg 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 Mecklenburg County, Virginia grew by 48.5% from 2009 to 2023, reaching $51,580 in 2023. That's an average of about 3.9% per year.
Economic Inequality in Mecklenburg County | Gender Pay Gap | Gini Coefficient
| Metric | Mecklenburg County | Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.558 | 0.565 | 0.570 |
| Male Median Income | $57,774 | $76,014 | $67,746 |
| Female Median Income | $42,892 | $60,748 | $54,793 |
| Gender Pay Gap | 25.8% | 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 Mecklenburg County, it is 0.558, 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 35% more than women's income in Mecklenburg County, Virginia. Over a 35-year career, a 35% wage gap accumulates to roughly $520,870 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Mecklenburg County, Virginia has widened from about 21% to 26% in 2023. In dollar terms, the gap has widened by $7,196 since 2009.
Employment
| Metric | Mecklenburg County | Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.0% | 4.2% | 5.2% |
| Working from Home | 7.2% | 16.2% | 13.4% |
| Commute time (minutes) | 20 | 23 | 22 |
Approximately 385 people are unemployed in Mecklenburg County, Virginia.
The average commute time in Mecklenburg County is 20 minutes, shorter than the 23 minutes in Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Mecklenburg County, Virginia has fallen from 8.8% to 3.0% in 2023.
Conclusion
Considering all these factors, Mecklenburg 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 Mecklenburg County, Virginia.
How Rich Is Mecklenburg County, Virginia?
Mecklenburg 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 $51,580, about 44% lower than the Virginia average of $91,409.
What is the current median household income in Mecklenburg County, Virginia?
As of 2023, the median household income in Mecklenburg County, Virginia is $51,580.
What was the median household income in Mecklenburg County in 2023?
In 2023, the median household income in Mecklenburg County, Virginia was $51,580.
What was the median household income in Mecklenburg County in 2020?
In 2020, the median household income in Mecklenburg County, Virginia was $50,292.
What is the Gini coefficient in Mecklenburg County, Virginia?
The Gini coefficient in Mecklenburg County is 0.558. 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 Mecklenburg County, Virginia?
Since 2009, the income gap between men and women in Mecklenburg County, Virginia has widened from about 21% to 26% in 2023. In dollar terms, the gap has widened by $7,196 since 2009.