Wealth Index
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 | Scott County | Iowa Avg | US Average |
|---|---|---|---|
| Median Household Income | $77,034 | $73,286 | $78,145 |
| Median Personal Income | $64,606 | $58,328 | $61,726 |
| Average income growth | 4.4% | 4.2% | 5.1% |
| Six-Figure Earners | 12.5% | 9.9% | 13.2% |
The median household income in Scott County is about 5% higher than in Iowa. Income has been growing faster in Scott County (4.4%/yr) than in Iowa (4.2%/yr).
About 13% of adults in Scott County earn six figures ($100,000 or more) a year, higher than the Iowa average of 10%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Scott County, Iowa grew by 51.9% from 2009 to 2023, reaching $77,034 in 2023. That's an average of about 4.4% per year.
Economic Inequality in Scott County | Gender Pay Gap | Gini Coefficient
| Metric | Scott County | Iowa Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.537 | 0.518 | 0.570 |
| Male Median Income | $72,128 | $64,701 | $67,746 |
| Female Median Income | $54,494 | $50,787 | $54,793 |
| Gender Pay Gap | 24.4% | 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 Scott County, it is 0.537, higher than Iowa's 0.518, so income is less 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 32% more than women's income in Scott County, Iowa. Over a 35-year career, a 32% wage gap accumulates to roughly $617,190 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Scott County, Iowa has narrowed from about 28% to 24% in 2023. In dollar terms, the gap has widened by $4,434 since 2009.
Employment
| Metric | Scott County | Iowa Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.7% | 3.6% | 5.2% |
| Working from Home | 9.9% | 10.4% | 13.4% |
| Commute time (minutes) | 17 | 16 | 22 |
Approximately 3,375 people are unemployed in Scott County, Iowa.
The average commute time in Scott County is 17 minutes, longer than the 16 minutes in Iowa.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Scott County, Iowa has fallen from 5.6% to 3.7% in 2023.
Conclusion
Considering all these factors, Scott County, Iowa has an overall wealth index grade of B, making it about on par with Iowa, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Scott County, Iowa.
How Rich Is Scott County, Iowa?
Scott 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 $77,034, about 5% higher than the Iowa average of $73,286.
What is the current median household income in Scott County, Iowa?
As of 2023, the median household income in Scott County, Iowa is $77,034.
What was the median household income in Scott County in 2023?
In 2023, the median household income in Scott County, Iowa was $77,034.
What was the median household income in Scott County in 2020?
In 2020, the median household income in Scott County, Iowa was $64,076.
What is the Gini coefficient in Scott County, Iowa?
The Gini coefficient in Scott County is 0.537. 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 Scott County, Iowa?
Since 2009, the income gap between men and women in Scott County, Iowa has narrowed from about 28% to 24% in 2023. In dollar terms, the gap has widened by $4,434 since 2009.