Economic Conditions
Income Distribution
| Median Annual Income for Family of 4 [a] | Ratio of Income, Top to Bottom Fifth of Families [1] [b] | |
|---|---|---|
| South Carolina | $59,212 | 8.1 |
| United States | $63,278 | 10.0 |
[1] The ratio is calculated by dividing the average income of the top fifth of families by the average income of the bottom fifth.
[a] U.S. Census Bureau, "Median Income for 4-Person Families, by State," 2004, http://www.census.gov/hhes/income/4person.html (accessed July 13, 2004).
[b] Jared Bernstein, Heather Boushey, Elizabeth McNichol, Robert Zahradnik, Pulling Apart: A State-by-State Analysis of Income Trends, Center on Budget and Policy Priorities and Economic Policy Institute, 2002.
Wages and Employment
| Median Hourly Wage [c] | Official Unemployment Rate [d] | Female Labor Force Participation Rate [e] | Basic Family Budget [2] [f] | |
|---|---|---|---|---|
| South Carolina | $11.25 | 7% | 59.5% | $31,939 |
| United States | $11.87 | 5% | 60.2% | N/A |
[2] The basic family budget measures the income necessary to provide a family of four with a decent and safe standard of living
[c] Lawrence Mishel, Jared Bernstein, and Heather Boushey, The State of Working America 2000-2001, Economic Policy Institute, 2001.
[d] U.S. Department of Labor, Bureau of Labor Statistics, "State and Regional Unemployment, 2003 Annual Averages," ftp://ftp.bls.gov/pub/news.release/srgune.txt (released February 27, 2004).
[e] U.S. Department of Labor, Bureau of Labor Statistics, Geographic Profile of Employment and Unemployment, 2000, 2001.
[f] Heather Boushey, Chauna Brocht, Bethany Gundersen, and Jared Bernstein, Hardship in America: The Real Story of Working Families, Economic Policy Institute, 2001.
Housing Costs and Homeownership
| Fair market rent (2BR) in largest city (2002) [g] | Median rent (2BR) in largest city (2002) [3] [h] | Median value of home (2000 [i] | Home ownership rate (2003) [j] | |
|---|---|---|---|---|
| South Carolina | $572 (Columbia) | $606 (Columbia) | $103,882 | 75% |
| United States | N/A | N/A | $120,496 | 68% |
[3] Median rent is calculated for the metropolitan statistical area.
[g] U.S. Department of Housing and Urban Development, 2002 Fair Market Rents, 2002.
[h] U.S. Department of Housing and Urban Development, 50th Percentile Rent Estimates, 2002.
[i] U.S. Census Bureau, Census 2000 Supplementary Survey, Median Value of Specified Owner-Occupied Housing Units, 2002.
[j] U.S. Census Bureau, "Housing Vacancies and Homeownership, Table 13" (accessed July 13, 2004).