Wealth Index
Wealthier than 71% of counties in Illinois
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 | Marshall County | Illinois Avg | US Average |
|---|---|---|---|
| Median Household Income | $70,302 | $82,179 | $78,145 |
| Median Personal Income | $54,527 | $65,365 | $61,726 |
| Average income growth | 3.6% | 4.8% | 5.1% |
| Six-Figure Earners | 8.5% | 14.4% | 13.2% |
The median household income in Marshall County is about 14% lower than in Illinois. Income has been growing slower in Marshall County (3.6%/yr) than in Illinois (4.8%/yr).
About 8% of adults in Marshall County earn six figures ($100,000 or more) a year, lower than the Illinois average of 14%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Marshall County, Illinois grew by 48.7% from 2009 to 2023, reaching $70,302 in 2023. That's an average of about 3.6% per year.
Economic Inequality in Marshall County | Gender Pay Gap | Gini Coefficient
| Metric | Marshall County | Illinois Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.518 | 0.567 | 0.570 |
| Male Median Income | $67,562 | $72,139 | $67,746 |
| Female Median Income | $43,433 | $58,023 | $54,793 |
| Gender Pay Gap | 35.7% | 19.6% | 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 Marshall County, it is 0.518, lower than Illinois's 0.567, 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 56% more than women's income in Marshall County, Illinois. Over a 35-year career, a 56% wage gap accumulates to roughly $844,515 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Marshall County, Illinois has narrowed from about 42% to 36% in 2023. In dollar terms, the gap has widened by $2,566 since 2009.
Employment
| Metric | Marshall County | Illinois Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.7% | 5.8% | 5.2% |
| Working from Home | 5.8% | 14.0% | 13.4% |
| Commute time (minutes) | 23 | 23 | 22 |
Approximately 251 people are unemployed in Marshall County, Illinois.
The average commute time in Marshall County is 23 minutes, about the same as in Illinois.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Marshall County, Illinois has fallen from 7.3% to 4.7% in 2023.
Conclusion
Considering all these factors, Marshall County, Illinois has an overall wealth index grade of B, making it about on par with Illinois, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Marshall County, Illinois.
How Rich Is Marshall County, Illinois?
Marshall 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 $70,302, about 14% lower than the Illinois average of $82,179.
What is the current median household income in Marshall County, Illinois?
As of 2023, the median household income in Marshall County, Illinois is $70,302.
What was the median household income in Marshall County in 2023?
In 2023, the median household income in Marshall County, Illinois was $70,302.
What was the median household income in Marshall County in 2020?
In 2020, the median household income in Marshall County, Illinois was $56,595.
What is the Gini coefficient in Marshall County, Illinois?
The Gini coefficient in Marshall County 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 Marshall County, Illinois?
Since 2009, the income gap between men and women in Marshall County, Illinois has narrowed from about 42% to 36% in 2023. In dollar terms, the gap has widened by $2,566 since 2009.