Gender
In Franklin County, the population consists of 33,650 males (49.78%) and 33,948 females (50.22%). Here are the primary highlights from the gender-based income distribution analysis:
- In Franklin County, the median income for all workers aged 15 years and older, regardless of work hours, was $37,354 for males and $26,499 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $55,883 for males and $49,113 for females.
- In Franklin County, the median income for all workers aged 15 years and older, regardless of work hours, was $37,354 for males and $26,499 for females.
- In Franklin County, among full-time, year-round workers aged 15 years and older, males earned a median income of $55,883, while females earned $49,113, resulting in a 12% gender pay gap among full-time workers. This illustrates that women earn 88 cents for each dollar earned by men in full-time positions. While this gap shows a trend where women are inching closer to wage parity with men, it also exhibits a noticeable income difference for women working full-time in the county of Franklin County.
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Race
In Franklin County, the population is predominantly White, constituting 65.93% of the total residents. Here are the key highlights from the analysis of income distribution by race:
- The median household income for White households is $85,120.
- In Franklin County, despite the White population being the most populous, it is worth noting that Two or More Races households actually reports the highest median household income, with a median income of $183,801. This reveals that, while Whites may be the most numerous in Franklin County, Two or More Races households experience greater economic prosperity in terms of median household income.
- In Franklin County, there was no reported median household income for White households in 2012. However, in 2022, the median household income increased to $85,120, marking a significant change.
- In Franklin County, there was no reported median household income for Black or African American households in 2012. However, in 2022, the median household income increased to $51,606, marking a significant change.
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Year by year
Franklin County, NC median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Franklin County increased by $8,398 (14.24%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 7 years and declined for 4 years.
- The most significant year-by-year growth occured from 2017 to 2018, when the median household income increased by 4,268 (from $57,897 to $62,165). Similarly the most substantial year-by-year decline occured from 2011 to 2012, when the median household income decreased by 3,343 (from $58,315 to $54,972).
- It then further decreased to -666,666,666 for 7-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4424, it is evident that income distribution in Franklin County, NC exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $85,449. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $39,519.
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