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 | Taylor County | Iowa Avg | US Average |
|---|---|---|---|
| Median Household Income | $65,811 | $73,286 | $78,145 |
| Median Personal Income | $52,251 | $58,328 | $61,726 |
| Average income growth | 5.2% | 4.2% | 5.1% |
| Six-Figure Earners | 6.8% | 9.9% | 13.2% |
The median household income in Taylor County is about 10% lower than in Iowa. Income has been growing faster in Taylor County (5.2%/yr) than in Iowa (4.2%/yr).
About 7% of adults in Taylor 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 Taylor County, Iowa grew by 74.3% from 2009 to 2023, reaching $65,811 in 2023. That's an average of about 5.2% per year.
Economic Inequality in Taylor County | Gender Pay Gap | Gini Coefficient
| Metric | Taylor County | Iowa Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.502 | 0.518 | 0.570 |
| Male Median Income | $57,421 | $64,701 | $67,746 |
| Female Median Income | $45,585 | $50,787 | $54,793 |
| Gender Pay Gap | 20.6% | 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 Taylor County, it is 0.502, 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 26% more than women's income in Taylor County, Iowa. Over a 35-year career, a 26% wage gap accumulates to roughly $414,260 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Taylor County, Iowa has widened from about 18% to 21% in 2023. In dollar terms, the gap has widened by $5,925 since 2009.
Employment
| Metric | Taylor County | Iowa Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.4% | 3.6% | 5.2% |
| Working from Home | 3.5% | 10.4% | 13.4% |
| Commute time (minutes) | 18 | 16 | 22 |
Approximately 100 people are unemployed in Taylor County, Iowa.
The average commute time in Taylor County is 18 minutes, longer than the 16 minutes in Iowa.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Taylor County, Iowa has fallen from 6.1% to 3.4% in 2023.
Conclusion
Considering all these factors, Taylor 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 Taylor County, Iowa.
How Rich Is Taylor County, Iowa?
Taylor 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 $65,811, about 10% lower than the Iowa average of $73,286.
What is the current median household income in Taylor County, Iowa?
As of 2023, the median household income in Taylor County, Iowa is $65,811.
What was the median household income in Taylor County in 2023?
In 2023, the median household income in Taylor County, Iowa was $65,811.
What was the median household income in Taylor County in 2020?
In 2020, the median household income in Taylor County, Iowa was $57,961.
What is the Gini coefficient in Taylor County, Iowa?
The Gini coefficient in Taylor County is 0.502. 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 Taylor County, Iowa?
Since 2009, the income gap between men and women in Taylor County, Iowa has widened from about 18% to 21% in 2023. In dollar terms, the gap has widened by $5,925 since 2009.