Wealth Index
Less wealthy than 73% 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 | Emmet County | Iowa Avg | US Average |
|---|---|---|---|
| Median Household Income | $62,973 | $73,286 | $78,145 |
| Median Personal Income | $47,732 | $58,328 | $61,726 |
| Average income growth | 4.8% | 4.2% | 5.1% |
| Six-Figure Earners | 4.8% | 9.9% | 13.2% |
The median household income in Emmet County is about 14% lower than in Iowa. Income has been growing faster in Emmet County (4.8%/yr) than in Iowa (4.2%/yr).
About 5% of adults in Emmet County earn six figures ($100,000 or more) a year, lower than the Iowa average of 10%.
Median Household Income 2010–2023 Trend
Median Household Income Over Time
Median household income in Emmet County, Iowa grew by 45.2% from 2010 to 2023, reaching $62,973 in 2023. That's an average of about 4.8% per year.
Economic Inequality in Emmet County | Gender Pay Gap | Gini Coefficient
| Metric | Emmet County | Iowa Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.511 | 0.518 | 0.570 |
| Male Median Income | $54,564 | $64,701 | $67,746 |
| Female Median Income | $40,320 | $50,787 | $54,793 |
| Gender Pay Gap | 26.1% | 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 Emmet County, it is 0.511, 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 35% more than women's income in Emmet County, Iowa. Over a 35-year career, a 35% wage gap accumulates to roughly $498,540 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Emmet County, Iowa has widened from about 25% to 26% in 2023. In dollar terms, the gap has widened by $3,417 since 2009.
Employment
| Metric | Emmet County | Iowa Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.0% | 3.6% | 5.2% |
| Working from Home | 6.9% | 10.4% | 13.4% |
| Commute time (minutes) | 13 | 16 | 22 |
Approximately 99 people are unemployed in Emmet County, Iowa.
The average commute time in Emmet County is 13 minutes, shorter than the 16 minutes in Iowa.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Emmet County, Iowa has fallen from 4.3% to 2.0% in 2023.
Conclusion
Considering all these factors, Emmet County, Iowa has an overall wealth index grade of C, making it about on par with Iowa, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Emmet County, Iowa.
How Wealthy Is Emmet County, Iowa?
Emmet County has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $62,973, about 14% lower than the Iowa average of $73,286.
What is the current median household income in Emmet County, Iowa?
As of 2023, the median household income in Emmet County, Iowa is $62,973.
What was the median household income in Emmet County in 2023?
In 2023, the median household income in Emmet County, Iowa was $62,973.
What was the median household income in Emmet County in 2020?
In 2020, the median household income in Emmet County, Iowa was $55,708.
What is the Gini coefficient in Emmet County, Iowa?
The Gini coefficient in Emmet County is 0.511. 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 Emmet County, Iowa?
Since 2009, the income gap between men and women in Emmet County, Iowa has widened from about 25% to 26% in 2023. In dollar terms, the gap has widened by $3,417 since 2009.