Wealth Index
Among the 5 least wealthy 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 | Story County | Iowa Avg | US Average |
|---|---|---|---|
| Median Household Income | $69,507 | $73,286 | $78,145 |
| Median Personal Income | $61,896 | $58,328 | $61,726 |
| Average income growth | 4.3% | 4.2% | 5.1% |
| Six-Figure Earners | 9.1% | 9.9% | 13.2% |
The median household income in Story County is about 5% lower than in Iowa. Income has been growing faster in Story County (4.3%/yr) than in Iowa (4.2%/yr).
About 9% of adults in Story 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 Story County, Iowa grew by 52.4% from 2009 to 2023, reaching $69,507 in 2023. That's an average of about 4.3% per year.
Economic Inequality in Story County | Gender Pay Gap | Gini Coefficient
| Metric | Story County | Iowa Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.588 | 0.518 | 0.570 |
| Male Median Income | $69,620 | $64,701 | $67,746 |
| Female Median Income | $53,504 | $50,787 | $54,793 |
| Gender Pay Gap | 23.1% | 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 Story County, it is 0.588, higher than Iowa's 0.518, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 30% more than women's income in Story County, Iowa. Over a 35-year career, a 30% wage gap accumulates to roughly $564,060 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Story County, Iowa has narrowed from about 26% to 23% in 2023. In dollar terms, the gap has widened by $3,643 since 2009.
Employment
| Metric | Story County | Iowa Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.0% | 3.6% | 5.2% |
| Working from Home | 10.9% | 10.4% | 13.4% |
| Commute time (minutes) | 15 | 16 | 22 |
Approximately 2,764 people are unemployed in Story County, Iowa.
The average commute time in Story County is 15 minutes, shorter than the 16 minutes in Iowa.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Story County, Iowa has fallen from 5.3% to 5.0% in 2023.
Conclusion
Considering all these factors, Story County, Iowa has an overall wealth index grade of C, making it somewhat worse than Iowa, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Story County, Iowa.
How Rich Is Story County, Iowa?
Story 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 $69,507, about 5% lower than the Iowa average of $73,286.
What is the current median household income in Story County, Iowa?
As of 2023, the median household income in Story County, Iowa is $69,507.
What was the median household income in Story County in 2023?
In 2023, the median household income in Story County, Iowa was $69,507.
What was the median household income in Story County in 2020?
In 2020, the median household income in Story County, Iowa was $58,705.
What is the Gini coefficient in Story County, Iowa?
The Gini coefficient in Story County is 0.588. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Story County, Iowa?
Since 2009, the income gap between men and women in Story County, Iowa has narrowed from about 26% to 23% in 2023. In dollar terms, the gap has widened by $3,643 since 2009.