Wealth Index
Least wealthy county in Idaho
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 | Madison County | Idaho Avg | US Average |
|---|---|---|---|
| Median Household Income | $57,434 | $74,676 | $78,145 |
| Median Personal Income | $44,269 | $54,802 | $61,726 |
| Average income growth | 8.1% | 6.2% | 5.1% |
| Six-Figure Earners | 4.6% | 9.8% | 13.2% |
The median household income in Madison County is about 23% lower than in Idaho. Income has been growing faster in Madison County (8.1%/yr) than in Idaho (6.2%/yr).
About 5% of adults in Madison County earn six figures ($100,000 or more) a year, lower than the Idaho average of 10%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Madison County, Idaho grew by 61.7% from 2009 to 2023, reaching $57,434 in 2023. That's an average of about 8.1% per year.
Economic Inequality in Madison County | Gender Pay Gap | Gini Coefficient
| Metric | Madison County | Idaho Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.645 | 0.553 | 0.570 |
| Male Median Income | $55,131 | $61,839 | $67,746 |
| Female Median Income | $32,969 | $46,302 | $54,793 |
| Gender Pay Gap | 40.2% | 25.1% | 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 Madison County, it is 0.645, higher than Idaho's 0.553, 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 67% more than women's income in Madison County, Idaho. Over a 35-year career, a 67% wage gap accumulates to roughly $775,670 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Madison County, Idaho has narrowed from about 46% to 40% in 2023. In dollar terms, the gap has widened by $2,930 since 2009.
Employment
| Metric | Madison County | Idaho Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 8.8% | 3.7% | 5.2% |
| Working from Home | 11.6% | 12.2% | 13.4% |
| Commute time (minutes) | 11 | 17 | 22 |
Approximately 2,642 people are unemployed in Madison County, Idaho.
The average commute time in Madison County is 11 minutes, shorter than the 17 minutes in Idaho.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Madison County, Idaho has risen from 8.4% to 8.8% in 2023.
Conclusion
Considering all these factors, Madison County, Idaho has an overall wealth index grade of D, making it somewhat worse than Idaho, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Madison County, Idaho.
How Rich Is Madison County, Idaho?
Madison County has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $57,434, about 23% lower than the Idaho average of $74,676.
What is the current median household income in Madison County, Idaho?
As of 2023, the median household income in Madison County, Idaho is $57,434.
What was the median household income in Madison County in 2023?
In 2023, the median household income in Madison County, Idaho was $57,434.
What was the median household income in Madison County in 2020?
In 2020, the median household income in Madison County, Idaho was $44,293.
What is the Gini coefficient in Madison County, Idaho?
The Gini coefficient in Madison County is 0.645. 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 Madison County, Idaho?
Since 2009, the income gap between men and women in Madison County, Idaho has narrowed from about 46% to 40% in 2023. In dollar terms, the gap has widened by $2,930 since 2009.