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General Demographics

Total Population, 2022
21,7681
Population Change, April 2020 - July 2022
5761
Projected 2050 Population
23,6402
Under 18 Years Old
3,6371
Age 18-64 Years
13,0061
Age 65+ Years
5,1251
Median Age
44.63

Race / Ethnicity 3

White
87.78%3
Black/African American
0.99%3
Native American
0.29%3
Asian/Pacific Islander
0.85%3
Hispanic/Latino
7.87%3
Multi-Racial
2.01%3
Other Single Race
0.21%3
Sources

Financial Stability

Residents Below Federal Poverty Level, 2022
15.0%4
Median Household Income, 2022
$54,1374
Sources

Housing

Cost-Burdened Households (Spend 30% of Household Income on Housing)
24.5%5
Typical Home Value (July, 2023)
$351,7476
Median Gross Rent, 2 Bedroom Unit
$7485
Sources

Education

4-Year County High School Graduation Rate
89.8%7
Postsecondary Enrollment
38%8
Postsecondary Attainment (25-44 Year Olds With a Postsecondary Degree/Credential)
54.2%8
Sources

Employment

2024 County Economic Distress Tier
29
Total Workforce Employed, 2022
9,73310
Total Workforce Unemployed, 2022
34510
Average Weekly Wage, 2022
$80911
Residents Working in Home County
44.4%12
Labor Force Participation Rate
54.4%12
Unemployment Rate (Annual Average), 2022
3.4%13
Annual Living Wage - 1 Adult, 1 Child Household (Pre-Tax)
$77,29314
Avgerage Employment Change, 2012-22
160 (4% Growth)11
Gross Domestic Product, 2022 (Thousands of Dollars)
$514,90015
Top Industry By Employment, 2021
Health Care and Social Assistance (636 Employees)16
Top Employer in County, 2022
Madison County Schools (250-499 Employees)11
Sources

Health

Residents Uninsured
9.0%17
County Health Outcomes Rank
3918
Food Insecurity Rate, 2021
13.3%19
Primary Care Physicians Per 10K Residents, 2022
6.520
Overdose Deaths Per 100 Thousand Residents, 2021
18.421
Life Expectancy
76.718
Sources

Broadband

Households Without Computing Device (Laptop, Smartphone, etc.)
14.1%22
Broadband Availability Index Score, 2021
66.523
Households without an Internet Subscription
20.7%22
Sources

Infrastructure

Designation of Water/Wastewater System as Distressed
Yes (Hot Springs)24

**Distressed is defined as a “public water system or wastewater system operated by a local government unit exhibiting signs of failure to identify or address those financial or operating needs necessary to enable that system to become or to remain a local government unit generating sufficient revenues to adequately fund management and operations, personnel, appropriate levels of maintenance, and reinvestment that facilitate the provision of reliable water or wastewater services” per Session Law 2020-79.**

Sources

Small Business: Statewide Data

Small businesses make up 99.6% of all NC Businesses.25

44.5% of all North Carolinians are small business employees.25

Business Ownership

Business Ownership - Women
44.8%25
Business Ownership - Veterans
8.0%25
Business Ownership - People of Color
20.8%25

Business Creation

2020
126,60026
2021
178,30026
2022
171,40026

Business Revenue

2019
$125,700,00026
2020
$141,400,00026
2021
$159,200,00026

Employment Data

Small Business Employment Change, March 2020 - March 2021
Net decrease of 11,762 jobs25
Small Business Establishment Change, March 2020 - March 2021
Net increase of 14,936 businesses25

Agriculture

Farms
45,00027
Acres of Farmland
8,300,00027
Average Acreage of NC Farms
18427

Major Sectors

Major Business Sectors
Aerospace and Defense; Automotive, Truck & Heavy Machinery; Biotechnology and Pharmaceuticals; Business and Financial Services; Corporate Headquarters; Energy; Food Processing and Manufacturing; Furniture; Information Technology; Plastics and Chemicals; Textiles; Tourism28
Sources