Wealth Index
Wealthier than 71% 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 | Cherokee County | Iowa Avg | US Average |
|---|---|---|---|
| Median Household Income | $65,068 | $73,286 | $78,145 |
| Median Personal Income | $52,659 | $58,328 | $61,726 |
| Average income growth | 3.4% | 4.2% | 5.1% |
| Six-Figure Earners | 7.6% | 9.9% | 13.2% |
The median household income in Cherokee County is about 11% lower than in Iowa. Income has been growing slower in Cherokee County (3.4%/yr) than in Iowa (4.2%/yr).
About 8% of adults in Cherokee County earn six figures ($100,000 or more) a year, lower than the Iowa average of 10%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Cherokee County, Iowa grew by 48.8% from 2009 to 2023, reaching $65,068 in 2023. That's an average of about 3.4% per year.
Economic Inequality in Cherokee County | Gender Pay Gap | Gini Coefficient
| Metric | Cherokee County | Iowa Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.494 | 0.518 | 0.570 |
| Male Median Income | $57,347 | $64,701 | $67,746 |
| Female Median Income | $40,123 | $50,787 | $54,793 |
| Gender Pay Gap | 30.0% | 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 Cherokee County, it is 0.494, 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 43% more than women's income in Cherokee County, Iowa. Over a 35-year career, a 43% wage gap accumulates to roughly $602,840 in unearned income for female workers in the area.
Income by Sex Over Time
The income gap between men and women in Cherokee County, Iowa has stayed about the same since 2009, at around 30%. In dollar terms, the gap has widened by $5,234 since 2009.
Employment
| Metric | Cherokee County | Iowa Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.0% | 3.6% | 5.2% |
| Working from Home | 7.3% | 10.4% | 13.4% |
| Commute time (minutes) | 12 | 16 | 22 |
Approximately 184 people are unemployed in Cherokee County, Iowa.
The average commute time in Cherokee County is 12 minutes, shorter than the 16 minutes in Iowa.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Cherokee County, Iowa has fallen from 3.3% to 3.0% in 2023.
Conclusion
Considering all these factors, Cherokee 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 Cherokee County, Iowa.
How Rich Is Cherokee County, Iowa?
Cherokee 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 $65,068, about 11% lower than the Iowa average of $73,286.
What is the current median household income in Cherokee County, Iowa?
As of 2023, the median household income in Cherokee County, Iowa is $65,068.
What was the median household income in Cherokee County in 2023?
In 2023, the median household income in Cherokee County, Iowa was $65,068.
What was the median household income in Cherokee County in 2020?
In 2020, the median household income in Cherokee County, Iowa was $57,043.
What is the Gini coefficient in Cherokee County, Iowa?
The Gini coefficient in Cherokee County is 0.494. 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 Cherokee County, Iowa?
The income gap between men and women in Cherokee County, Iowa has stayed about the same since 2009, at around 30%. In dollar terms, the gap has widened by $5,234 since 2009.