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 | Wabash County | Illinois Avg | US Average |
|---|---|---|---|
| Median Household Income | $55,128 | $82,179 | $78,145 |
| Median Personal Income | $55,436 | $65,365 | $61,726 |
| Average income growth | 2.3% | 4.8% | 5.1% |
| Six-Figure Earners | 7.3% | 14.4% | 13.2% |
The median household income in Wabash County is about 33% lower than in Illinois. Income has been growing slower in Wabash County (2.3%/yr) than in Illinois (4.8%/yr).
About 7% of adults in Wabash 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 Wabash County, Illinois grew by 23.3% from 2009 to 2023, reaching $55,128 in 2023. That's an average of about 2.3% per year.
Economic Inequality in Wabash County | Gender Pay Gap | Gini Coefficient
| Metric | Wabash County | Illinois Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.515 | 0.567 | 0.570 |
| Male Median Income | $66,537 | $72,139 | $67,746 |
| Female Median Income | $47,366 | $58,023 | $54,793 |
| Gender Pay Gap | 28.8% | 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 Wabash County, it is 0.515, 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 40% more than women's income in Wabash County, Illinois. Over a 35-year career, a 40% wage gap accumulates to roughly $670,985 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Wabash County, Illinois has narrowed from about 33% to 29% in 2023. In dollar terms, the gap has widened by $3,359 since 2009.
Employment
| Metric | Wabash County | Illinois Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.4% | 5.8% | 5.2% |
| Working from Home | 3.6% | 14.0% | 13.4% |
| Commute time (minutes) | 20 | 23 | 22 |
Approximately 229 people are unemployed in Wabash County, Illinois.
The average commute time in Wabash County is 20 minutes, shorter than the 23 minutes in Illinois.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Wabash County, Illinois has fallen from 6.5% to 4.4% in 2023.
Conclusion
Considering all these factors, Wabash County, Illinois has an overall wealth index grade of C, making it about on par with Illinois, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Wabash County, Illinois.
How Rich Is Wabash County, Illinois?
Wabash 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 $55,128, about 33% lower than the Illinois average of $82,179.
What is the current median household income in Wabash County, Illinois?
As of 2023, the median household income in Wabash County, Illinois is $55,128.
What was the median household income in Wabash County in 2023?
In 2023, the median household income in Wabash County, Illinois was $55,128.
What was the median household income in Wabash County in 2020?
In 2020, the median household income in Wabash County, Illinois was $48,960.
What is the Gini coefficient in Wabash County, Illinois?
The Gini coefficient in Wabash County is 0.515. 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 Wabash County, Illinois?
Since 2009, the income gap between men and women in Wabash County, Illinois has narrowed from about 33% to 29% in 2023. In dollar terms, the gap has widened by $3,359 since 2009.