Wealth Index
Wealthier than 89% of counties in Iowa
The wealth index reflects the overall economic prosperity and financial well-being of a county's residents based on income levels, employment rates, and income inequality metrics.
Income Statistics Overview
| Metric | Benton County | Iowa Avg | US Average |
|---|---|---|---|
| Median Household Income | $85,445 | $73,286 | $78,145 |
| Median Personal Income | $62,142 | $58,328 | $61,726 |
| Average income growth | 4.9% | 4.2% | 5.1% |
| Six-Figure Earners | 10.3% | 9.9% | 13.2% |
The median household income in Benton County is about 17% higher than in Iowa. Income has been growing faster in Benton County (4.9%/yr) than in Iowa (4.2%/yr).
About 10% of adults in Benton County earn six figures ($100,000 or more) a year, about the same as the Iowa average of 10%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Benton County, Iowa grew by 57.1% from 2009 to 2023, reaching $85,445 in 2023. That's an average of about 4.9% per year.
Economic Inequality in Benton County | Gender Pay Gap | Gini Coefficient
| Metric | Benton County | Iowa Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.491 | 0.518 | 0.570 |
| Male Median Income | $67,082 | $64,701 | $67,746 |
| Female Median Income | $56,109 | $50,787 | $54,793 |
| Gender Pay Gap | 16.4% | 21.5% | 19.1% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Benton County, it is 0.491, lower than Iowa's 0.518, so income is more evenly distributed here than there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 20% more than women's income in Benton County, Iowa. Over a 35-year career, a 20% wage gap accumulates to roughly $384,055 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Benton County, Iowa has narrowed from about 28% to 16% in 2023. In dollar terms, the gap has narrowed by $2,024 since 2009.
Employment
| Metric | Benton County | Iowa Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.3% | 3.6% | 5.2% |
| Working from Home | 10.4% | 10.4% | 13.4% |
| Commute time (minutes) | 23 | 16 | 22 |
Approximately 319 people are unemployed in Benton County, Iowa.
The average commute time in Benton County is 23 minutes, longer than the 16 minutes in Iowa.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Benton County, Iowa has fallen from 4.7% to 2.3% in 2023.
Conclusion
Considering all these factors, Benton County, Iowa has an overall wealth index grade of B, making it somewhat better than Iowa, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Benton County, Iowa.
How Rich Is Benton County, Iowa?
Benton County has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $85,445, about 17% higher than the Iowa average of $73,286.
What is the current median household income in Benton County, Iowa?
As of 2023, the median household income in Benton County, Iowa is $85,445.
What was the median household income in Benton County in 2023?
In 2023, the median household income in Benton County, Iowa was $85,445.
What was the median household income in Benton County in 2020?
In 2020, the median household income in Benton County, Iowa was $67,056.
What is the Gini coefficient in Benton County, Iowa?
The Gini coefficient in Benton County is 0.491. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.570, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Benton County, Iowa?
Since 2009, the income gap between men and women in Benton County, Iowa has narrowed from about 28% to 16% in 2023. In dollar terms, the gap has narrowed by $2,024 since 2009.