Wealth Index
The wealth index reflects the overall economic prosperity and financial well-being of a state's residents based on income levels, employment rates, and income inequality metrics.
Wealthiest and Least Wealthy Counties in Iowa
- Dallas County (131% of U.S. avg)
- Warren County (116% of U.S. avg)
- Dickinson County (113% of U.S. avg)
- Appanoose County (86% of U.S. avg)
- Decatur County (86% of U.S. avg)
- Jefferson County (88% of U.S. avg)
Ranked by the Map AI Wealth Index, which combines income, employment, and income inequality metrics.
Income Statistics Overview
| Metric | Iowa | US Average |
|---|---|---|
| Median Household Income | $73,286 | $78,145 |
| Median Personal Income | $58,328 | $61,726 |
| Average income growth | 4.2% | 5.1% |
| Six-Figure Earners | 9.9% | 13.2% |
The median household income in Iowa is about 6% lower than in US. Income has been growing slower in Iowa (4.2%/yr) than in US (5.1%/yr).
About 10% of adults in Iowa earn six figures ($100,000 or more) a year, lower than the US average of 13%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Iowa grew by 52.4% from 2009 to 2023, reaching $73,286 in 2023. That's an average of about 4.2% per year.
Economic Inequality in Iowa | Gender Pay Gap | Gini Coefficient
| Metric | Iowa | US Average |
|---|---|---|
| Gini Coefficient | 0.518 | 0.570 |
| Male Median Income | $64,701 | $67,746 |
| Female Median Income | $50,787 | $54,793 |
| Gender Pay Gap | 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 Iowa, it is 0.518, lower than US's 0.570, so income is more evenly distributed here than there.
Men's income is about 27% more than women's income in Iowa. Over a 35-year career, a 27% wage gap accumulates to roughly $486,990 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Iowa has narrowed from about 24% to 22% in 2023. In dollar terms, the gap has widened by $3,306 since 2009.
Employment
| Metric | Iowa | US Average |
|---|---|---|
| Unemployment Rate | 3.6% | 5.2% |
| Working from Home | 10.4% | 13.4% |
| Commute time (minutes) | 16 | 22 |
Approximately 61,402 people are unemployed in Iowa.
The average commute time in Iowa is 16 minutes, shorter than the 22 minutes in US.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Iowa has fallen from 5.5% to 3.6% in 2023.
Conclusion
Considering all these factors, Iowa has an overall wealth index grade of B, making it somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Iowa.
How Wealthy Is Iowa?
Iowa 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 $73,286, about 6% lower than the US average of $78,145.
What is the current median household income in Iowa?
As of 2023, the median household income in Iowa is $73,286.
What was the median household income in Iowa in 2023?
In 2023, the median household income in Iowa was $73,286.
What was the median household income in Iowa in 2020?
In 2020, the median household income in Iowa was $62,093.
What is the Gini coefficient in Iowa?
The Gini coefficient in Iowa is 0.518. 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 Iowa?
Since 2009, the income gap between men and women in Iowa has narrowed from about 24% to 22% in 2023. In dollar terms, the gap has widened by $3,306 since 2009.