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 | Clay County | Indiana Avg | US Average |
|---|---|---|---|
| Median Household Income | $67,933 | $70,132 | $78,145 |
| Median Personal Income | $53,838 | $56,502 | $61,726 |
| Average income growth | 4.6% | 4.8% | 5.1% |
| Six-Figure Earners | 7.2% | 9.6% | 13.2% |
The median household income in Clay County is about 3% lower than in Indiana. Income has been growing slower in Clay County (4.6%/yr) than in Indiana (4.8%/yr).
About 7% of adults in Clay County earn six figures ($100,000 or more) a year, lower than the Indiana average of 10%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Clay County, Indiana grew by 54.7% from 2009 to 2023, reaching $67,933 in 2023. That's an average of about 4.6% per year.
Economic Inequality in Clay County | Gender Pay Gap | Gini Coefficient
| Metric | Clay County | Indiana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.509 | 0.544 | 0.570 |
| Male Median Income | $63,247 | $63,558 | $67,746 |
| Female Median Income | $44,904 | $49,036 | $54,793 |
| Gender Pay Gap | 29.0% | 22.8% | 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 Clay County, it is 0.509, lower than Indiana's 0.544, 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 41% more than women's income in Clay County, Indiana. Over a 35-year career, a 41% wage gap accumulates to roughly $642,005 in unearned income for female workers in the area.
Income by Sex Over Time
The income gap between men and women in Clay County, Indiana has stayed about the same since 2009, at around 29%. In dollar terms, the gap has widened by $6,589 since 2009.
Employment
| Metric | Clay County | Indiana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.9% | 4.3% | 5.2% |
| Working from Home | 4.3% | 9.6% | 13.4% |
| Commute time (minutes) | 27 | 21 | 22 |
Approximately 482 people are unemployed in Clay County, Indiana.
The average commute time in Clay County is 27 minutes, longer than the 21 minutes in Indiana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Clay County, Indiana has fallen from 8.4% to 3.9% in 2023.
Conclusion
Considering all these factors, Clay County, Indiana has an overall wealth index grade of C, making it about on par with Indiana, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Clay County, Indiana.
How Rich Is Clay County, Indiana?
Clay 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 $67,933, about 3% lower than the Indiana average of $70,132.
What is the current median household income in Clay County, Indiana?
As of 2023, the median household income in Clay County, Indiana is $67,933.
What was the median household income in Clay County in 2023?
In 2023, the median household income in Clay County, Indiana was $67,933.
What was the median household income in Clay County in 2020?
In 2020, the median household income in Clay County, Indiana was $59,529.
What is the Gini coefficient in Clay County, Indiana?
The Gini coefficient in Clay County is 0.509. 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 Clay County, Indiana?
The income gap between men and women in Clay County, Indiana has stayed about the same since 2009, at around 29%. In dollar terms, the gap has widened by $6,589 since 2009.