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 | West Des Moines | Iowa Avg | US Average |
|---|---|---|---|
| Median Household Income | $86,555 | $73,286 | $78,145 |
| Median Personal Income | $86,555 | $73,286 | $78,145 |
| Average income growth | 2.7% | 2.7% | 2.7% |
The median household income in West Des Moines is about 18% higher than in Iowa. Income has been growing slower in West Des Moines (2.7%/yr) than in Iowa (4.2%/yr).
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in West Des Moines, Iowa grew by 33.4% from 2009 to 2023, reaching $86,555 in 2023. That's an average of about 2.4% per year.
Economic Inequality in West Des Moines | Gender Pay Gap | Gini Coefficient
| Metric | West Des Moines | Iowa Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.502 | 0.518 | 0.570 |
| Male Median Income | $77,537 | $64,701 | $67,746 |
| Female Median Income | $57,993 | $50,787 | $54,793 |
| Gender Pay Gap | 25.2% | 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 West Des Moines, 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 34% more than women's income in West Des Moines, Iowa.
Income by Sex Over Time
Since 2009, the income gap between men and women in West Des Moines, Iowa has widened from about 24% to 25% in 2023.
Employment
| Metric | West Des Moines | Iowa Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.4% | 3.6% | 5.2% |
| Working from Home | 17.1% | 10.4% | 13.4% |
| Commute time (minutes) | 17 | 16 | 22 |
The average commute time in West Des Moines is 17 minutes, longer than the 16 minutes in Iowa.
Unemployment Rate Over Time
Since 2011, the unemployment rate in West Des Moines, Iowa has fallen from 4.4% to 2.4% in 2023.
Conclusion
Considering all these factors, West Des Moines, Iowa has an overall wealth index grade of A, making it somewhat better than Iowa, and notably better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in West Des Moines, Iowa.
How Rich Is West Des Moines, Iowa?
West Des Moines has a wealth index grade of A. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an A grade means residents are much better off than the U.S. average. The median household income is $86,555, about 18% higher than the Iowa average of $73,286.
What is the current median household income in West Des Moines, Iowa?
As of 2023, the median household income in West Des Moines, Iowa is $86,555.
What was the median household income in West Des Moines in 2023?
In 2023, the median household income in West Des Moines, Iowa was $86,555.
What was the median household income in West Des Moines in 2020?
In 2020, the median household income in West Des Moines, Iowa was $74,085.
What is the Gini coefficient in West Des Moines, Iowa?
The Gini coefficient in West Des Moines 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 West Des Moines, Iowa?
Since 2009, the income gap between men and women in West Des Moines, Iowa has widened from about 24% to 25% in 2023.