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 | Elkhart County | Indiana Avg | US Average |
|---|---|---|---|
| Median Household Income | $66,369 | $70,132 | $78,145 |
| Median Personal Income | $50,400 | $56,502 | $61,726 |
| Average income growth | 4.2% | 4.8% | 5.1% |
| Six-Figure Earners | 6.8% | 9.6% | 13.2% |
The median household income in Elkhart County is about 5% lower than in Indiana. Income has been growing slower in Elkhart County (4.2%/yr) than in Indiana (4.8%/yr).
About 7% of adults in Elkhart 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 Elkhart County, Indiana grew by 39.7% from 2009 to 2023, reaching $66,369 in 2023. That's an average of about 4.2% per year.
Economic Inequality in Elkhart County | Gender Pay Gap | Gini Coefficient
| Metric | Elkhart County | Indiana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.531 | 0.544 | 0.570 |
| Male Median Income | $57,907 | $63,558 | $67,746 |
| Female Median Income | $42,578 | $49,036 | $54,793 |
| Gender Pay Gap | 26.5% | 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 Elkhart County, it is 0.531, 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 36% more than women's income in Elkhart County, Indiana. Over a 35-year career, a 36% wage gap accumulates to roughly $536,515 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Elkhart County, Indiana has narrowed from about 29% to 26% in 2023. In dollar terms, the gap has widened by $3,194 since 2009.
Employment
| Metric | Elkhart County | Indiana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.4% | 4.3% | 5.2% |
| Working from Home | 4.8% | 9.6% | 13.4% |
| Commute time (minutes) | 17 | 21 | 22 |
Approximately 3,492 people are unemployed in Elkhart County, Indiana.
The average commute time in Elkhart County is 17 minutes, shorter than the 21 minutes in Indiana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Elkhart County, Indiana has fallen from 10.9% to 3.4% in 2023.
Conclusion
Considering all these factors, Elkhart 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 Elkhart County, Indiana.
How Wealthy Is Elkhart County, Indiana?
Elkhart 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 $66,369, about 5% lower than the Indiana average of $70,132.
What is the current median household income in Elkhart County, Indiana?
As of 2023, the median household income in Elkhart County, Indiana is $66,369.
What was the median household income in Elkhart County in 2023?
In 2023, the median household income in Elkhart County, Indiana was $66,369.
What was the median household income in Elkhart County in 2020?
In 2020, the median household income in Elkhart County, Indiana was $58,511.
What is the Gini coefficient in Elkhart County, Indiana?
The Gini coefficient in Elkhart County is 0.531. 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 Elkhart County, Indiana?
Since 2009, the income gap between men and women in Elkhart County, Indiana has narrowed from about 29% to 26% in 2023. In dollar terms, the gap has widened by $3,194 since 2009.