The median household income in North Carolina in 2024 is projected to be around $66,186, which is about 88% of the national median household income of $74,606.
North Carolina's median household income has seen a steady increase over the past decade, growing by over 9% from $60,516 in 2021 to the projected $66,186 in 2024.
The county with the highest median household income in North Carolina is Chatham County at $76,681, while the county with the lowest is Robeson County at $36,819.
North Carolina's median household income varies significantly by region, with the Charlotte metro area and the Research Triangle reporting higher incomes compared to more rural parts of the state.
Education level is a strong predictor of household income in North Carolina, with households headed by individuals with a bachelor's degree or higher earning a median income of $87,024, compared to $42,869 for those without a high school diploma.
Household composition also plays a role, as married-couple families in North Carolina have a median income of $81,665, compared to $36,508 for single-parent households.
The racial/ethnic breakdown of median household income in North Carolina shows wide disparities, with Asian households earning a median of $91,206, compared to $57,324 for white households and $43,726 for Black households.
North Carolina's median household income is closely tied to the state's economic performance, with sectors like technology, finance, and healthcare driving higher incomes in urban areas.
Despite the overall increase in median household income, North Carolina still lags behind the national average, likely due to its relatively lower cost of living and the prevalence of lower-wage industries in some regions.
Interestingly, North Carolina's median household income is higher than several of its neighboring states, such as South Carolina ($54,600) and Virginia ($74,222), making it a relatively prosperous state in the Southeast.
The COVID-19 pandemic had a significant impact on North Carolina's economy and household incomes, with the state's median household income dipping in 2020 before rebounding in 2021 and 2022.
North Carolina's policymakers have been actively working to address income inequality and boost household incomes through initiatives like workforce development programs, tax incentives, and investments in education and infrastructure.