Iredell County Average Wage Increases – Ranking #4 Highest Behind Durham, Wake, and Mecklenburg Counties
Since 2007, North Carolina has used a three-level system for designating county development tiers. The annually rankings determine a variety of state funding opportunities to assist economic development. A statewide county tier map and designation can be found here.
Iredell County has been designated a Tier 3 County, maintaining its position in the top 20 and ranking at 89th out of 100 counties compared to the previous year. Iredell County saw another significant increase in wages landing at $64,433 for the 2023 year, up from $59,411 from the previous year (2022). The average wage for the county took a major jump last year increasing from $51,136 in 2021 to $59,411. The increase places Iredell County above the State of North Carolina’s average wage at $62,248 for 2023. Iredell County is ranked as the 4th highest wage in 2023 behind Durham County at $86,686, Mecklenburg County $80,349, and Wake County $72,743. Iredell also was ranked as the 9th fastest growing County in the state between 2018 – 2021 with a population growth of 5.9%.
County Tiers are calculated using four factors:
- Average unemployment rate
- Median household income
- Percentage growth in population
- Adjusted property tax base per capita
Included is the memo regarding the state’s methodology for the rankings and list of all 100 counties, designation, and wages 2023 Tiers Memo NC Commerce.