Wealth Index
Wealthier than 90% 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 | Lyon County | Iowa Avg | US Average |
|---|---|---|---|
| Median Household Income | $73,540 | $73,286 | $78,145 |
| Median Personal Income | $56,710 | $58,328 | $61,726 |
| Average income growth | 3.0% | 4.2% | 5.1% |
| Six-Figure Earners | 7.8% | 9.9% | 13.2% |
The median household income in Lyon County is about the same as in Iowa. Income has been growing slower in Lyon County (3.0%/yr) than in Iowa (4.2%/yr).
About 8% of adults in Lyon 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 Lyon County, Iowa grew by 47.6% from 2009 to 2023, reaching $73,540 in 2023. That's an average of about 3.0% per year.
Economic Inequality in Lyon County | Gender Pay Gap | Gini Coefficient
| Metric | Lyon County | Iowa Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.478 | 0.518 | 0.570 |
| Male Median Income | $60,875 | $64,701 | $67,746 |
| Female Median Income | $48,679 | $50,787 | $54,793 |
| Gender Pay Gap | 20.0% | 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 Lyon County, it is 0.478, 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 25% more than women's income in Lyon County, Iowa. Over a 35-year career, a 25% wage gap accumulates to roughly $426,860 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Lyon County, Iowa has narrowed from about 33% to 20% in 2023. In dollar terms, the gap has narrowed by $1,404 since 2009.
Employment
| Metric | Lyon County | Iowa Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.4% | 3.6% | 5.2% |
| Working from Home | 10.0% | 10.4% | 13.4% |
| Commute time (minutes) | 15 | 16 | 22 |
Approximately 145 people are unemployed in Lyon County, Iowa.
The average commute time in Lyon County is 15 minutes, shorter than the 16 minutes in Iowa.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Lyon County, Iowa has fallen from 3.4% to 2.4% in 2023.
Conclusion
Considering all these factors, Lyon 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 Lyon County, Iowa.
How Rich Is Lyon County, Iowa?
Lyon 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 $73,540, close to the Iowa average of $73,286.
What is the current median household income in Lyon County, Iowa?
As of 2023, the median household income in Lyon County, Iowa is $73,540.
What was the median household income in Lyon County in 2023?
In 2023, the median household income in Lyon County, Iowa was $73,540.
What was the median household income in Lyon County in 2020?
In 2020, the median household income in Lyon County, Iowa was $65,922.
What is the Gini coefficient in Lyon County, Iowa?
The Gini coefficient in Lyon County is 0.478. 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 Lyon County, Iowa?
Since 2009, the income gap between men and women in Lyon County, Iowa has narrowed from about 33% to 20% in 2023. In dollar terms, the gap has narrowed by $1,404 since 2009.