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Above-average income growth helped Alamance County’s economic stability compared to other counties around the state, according to the N.C. Department of Commerce.
In its recently released Development Tier Designations for 2024, the department ranked Alamance as the 39th least-economically-distressed of the state’s 100 counties, up two places from a year ago.
The 40 most distressed are labeled as Tier 1. The designation can help those counties get certain grants and other aid. The 20 counties that are best off are Tier 3. Alamance remains firmly in Tier 2.
The county saw solid improvement in two of the four measures used to determine the rankings.
The county’s median household income increased to $58,847 in 2021, the most recent year for which the figure was available, from $53,220 in 2020. The 2021 figure ranks 30th in the state, up from 41st.
The county also had improvement in its per capita property tax base, going from $93,470 for the 2022-23 fiscal year to $99,209 in the current fiscal year. The increase follows a countywide property revaluation.
There was little change in the county’s population growth rate or its unemployment rate.
