Wealth Index
Less wealthy than 89% 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 | Wayne County | Iowa Avg | US Average |
|---|---|---|---|
| Median Household Income | $58,872 | $73,286 | $78,145 |
| Median Personal Income | $49,406 | $58,328 | $61,726 |
| Average income growth | 4.8% | 4.2% | 5.1% |
| Six-Figure Earners | 6.1% | 9.9% | 13.2% |
The median household income in Wayne County is about 20% lower than in Iowa. Income has been growing faster in Wayne County (4.8%/yr) than in Iowa (4.2%/yr).
About 6% of adults in Wayne 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 Wayne County, Iowa grew by 66.8% from 2009 to 2023, reaching $58,872 in 2023. That's an average of about 4.8% per year.
Economic Inequality in Wayne County | Gender Pay Gap | Gini Coefficient
| Metric | Wayne County | Iowa Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.512 | 0.518 | 0.570 |
| Male Median Income | $56,596 | $64,701 | $67,746 |
| Female Median Income | $43,834 | $50,787 | $54,793 |
| Gender Pay Gap | 22.5% | 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 Wayne County, it is 0.512, 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 29% more than women's income in Wayne County, Iowa. Over a 35-year career, a 29% wage gap accumulates to roughly $446,670 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Wayne County, Iowa has narrowed from about 28% to 23% in 2023. In dollar terms, the gap has widened by $2,838 since 2009.
Employment
| Metric | Wayne County | Iowa Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.0% | 3.6% | 5.2% |
| Working from Home | 6.3% | 10.4% | 13.4% |
| Commute time (minutes) | 18 | 16 | 22 |
Approximately 59 people are unemployed in Wayne County, Iowa.
The average commute time in Wayne County is 18 minutes, longer than the 16 minutes in Iowa.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Wayne County, Iowa has fallen from 8.9% to 2.0% in 2023.
Conclusion
Considering all these factors, Wayne 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 Wayne County, Iowa.
How Rich Is Wayne County, Iowa?
Wayne 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 $58,872, about 20% lower than the Iowa average of $73,286.
What is the current median household income in Wayne County, Iowa?
As of 2023, the median household income in Wayne County, Iowa is $58,872.
What was the median household income in Wayne County in 2023?
In 2023, the median household income in Wayne County, Iowa was $58,872.
What was the median household income in Wayne County in 2020?
In 2020, the median household income in Wayne County, Iowa was $48,099.
What is the Gini coefficient in Wayne County, Iowa?
The Gini coefficient in Wayne County is 0.512. 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 Wayne County, Iowa?
Since 2009, the income gap between men and women in Wayne County, Iowa has narrowed from about 28% to 23% in 2023. In dollar terms, the gap has widened by $2,838 since 2009.