What Is the Average Income in Georgia?

Understanding the average income in Georgia is a common inquiry for individuals considering relocation, evaluating economic conditions, or simply seeking financial insight. This information provides a snapshot of the economic landscape, reflecting the earnings of residents across the state.

Understanding Income Metrics

When discussing income, various metrics are used, each providing a different perspective on financial well-being. Median income represents the midpoint where half of the incomes are above and half are below that figure, offering a more accurate reflection of a typical earner by mitigating the skewing effect of extremely high or low incomes. In contrast, mean income, or average income, is calculated by summing all incomes and dividing by the number of earners, which can be influenced significantly by a small number of very high earners.

Household income includes the combined earnings of all individuals aged 15 and older within a single household, encompassing wages, salaries, investments, and other forms of income. Individual income refers solely to the earnings of one person. Per capita income is calculated by dividing the total income of an area by its total population, including those who do not earn income, such as children or non-working adults.

Current Income Data for Georgia

Georgia’s income statistics reflect its economic standing. In 2023, the median household income for Georgia was approximately $74,664. This figure indicates that half of the households in the state earned more than this amount, and half earned less. For single-person households in Georgia, the median income was around $40,418.

The per capita income for Georgia in 2023 was reported to be approximately $39,525. This metric provides an average income per person across the entire population, including all ages and employment statuses. These figures are sourced from the U.S. Census Bureau and the American Community Survey.

Key Factors Influencing Income in Georgia

Several factors contribute to the income levels observed throughout Georgia. The state’s economic structure, characterized by its major industries, influences income. Key sectors such as aerospace and defense, e-mobility, food processing, and automotive manufacturing provide numerous employment opportunities and influence earning potential. Atlanta, as a major metropolitan hub, often attracts industries that offer higher-paying jobs, which can elevate overall state averages.

Educational attainment levels within the population also significantly impact income. Individuals with higher levels of education, such as a bachelor’s degree or advanced degrees, generally command higher lifetime earnings compared to those with only a high school diploma. The University System of Georgia contributes billions to the state’s economy, and its graduates experience increased lifetime earnings. This demonstrates a direct correlation between investment in education and improved financial outcomes for residents.

Income disparities between urban and rural areas are another influencing factor. Historically, urban centers have featured higher income levels due to greater access to diverse industries and specialized jobs. Shifts in economic activity and increased rural employment have gradually reduced this gap, with some rural areas even surpassing urban areas in nominal median household income recently. These regional differences highlight the varied economic opportunities available across Georgia.