CUMMING — Forsyth County is the richest of county in Georgia, according to financial news website 247wallst.com in a report that identifies the richest counties in every state. The median household income for a family in Forsyth County is $101,743 in comparison to a statewide average of $55,679.
Using data from the U.S. Census Bureau, 24/7 Wall St. reviewed the median household income in more than 2,000 counties and county equivalents nationwide to identify the richest county in each state.
Median household income has climbed steadily in the United States since 2014, hitting an all time high of more than $63,000 in 2018. In a country of more than 330 million people, however, the national median income does not often reflect incomes at a local level — and how much you earn can depend greatly on where you live.
Median household income varies considerably from state to state — from as little as $43,600 in Mississippi to as much as nearly $82,000 in Maryland — and the difference can be even greater across communities and municipalities within states. For example, in every state, there is at least one county where the median income is higher than it is nationwide.
Many of the counties on this list — particularly those around major urban areas like New York City and Washington D.C. — have a high cost of living that necessitates higher overall incomes to some degree. However, the high incomes in these areas are also often attributable in part to the availability of jobs. In 49 of the 50 counties on this list, the unemployment rate is lower than it is across the state as a whole.
Another factor contributing to higher incomes in the counties on this list is the skill level of the labor force. According to the Bureau of Labor Statistics, the typical worker with only a high school diploma earns $749 a week — about 71% less than the median weekly wage of $1,281 for those with a bachelor’s degree. All but three counties on this list are home to a larger share of college-educated adults than the state as a whole.
Here are vital stats from Forsyth County:
♦ Median household income: $101,743 (state: $55,679)
♦ Poverty rate: 5.9% (state: 16.0%)
♦ Oct. 2019 unemployment: 2.5% (state: 3.4%)
♦ Adults with a bachelor’s degree: 51.7% (state: 30.7%)
♦ Largest place in county: Cumming