Goshen, Indiana Income Statistics
Goshen Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
-
D
Goshen Well below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Goshen | Indiana Avg | US Average |
|---|---|---|---|
| Median Household Income | $63,322 | $71,967 | $80,455 |
| Median Personal Income | $49,012 | $55,757 | $60,758 |
| Average Yearly Income Growth | 4.1% | 4.5% | 4.8% |
| Six-Figure Earners | 4.6% | 10.2% | 13.9% |
| $200k+ Households | 4.3% | 8.2% | 13.2% |
The median household income in Goshen is about 12% lower than in Indiana. Income has been growing slower in Goshen (4.1%/yr) than in Indiana (4.5%/yr).
About 5% of adults in Goshen earn six figures ($100,000 or more) a year, lower than the Indiana average of 10%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Goshen, Indiana grew by 47.4% from 2009 to 2024, reaching $63,322 in 2024. That's an average of about 4.1% per year.
Income Inequality and the Gender Pay Gap in Goshen
| Metric | Goshen | Indiana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.506 | 0.534 | 0.552 |
| Male Median Income | $55,445 | $65,086 | $69,667 |
| Female Median Income | $43,411 | $51,220 | $56,850 |
| Gender Pay Gap | 21.7% | 21.3% | 18.4% |
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 Goshen, it is 0.506, lower than Indiana's 0.534, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 28% more than women's income in Goshen, Indiana. Over a 35-year career, a 28% wage gap accumulates to roughly $421,190 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Goshen, Indiana has narrowed from about 23% to 22% in 2024. Over that period the gap was widest at 31% in 2017, and was narrowest at 21% in 2023. In dollar terms, the gap has widened by $2,781 since 2009.
Employment
| Metric | Goshen | Indiana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.5% | 4.3% | 5.2% |
| Working from Home | 4.6% | 10.7% | 15.0% |
| Commute time (minutes) | 17 | 21 | 22 |
Approximately 439 people are unemployed in Goshen, Indiana.
The average commute time in Goshen is 17 minutes, shorter than the 21 minutes in Indiana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Goshen, Indiana has fallen from 10.6% to 3.5% in 2024. Over that period the rate peaked at 11.1% in 2012.
Conclusion
Considering all these factors, Goshen, Indiana has an overall wealth index grade of D, making it about on par with Indiana, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Goshen, Indiana.
How Rich Is Goshen, Indiana?
Goshen 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 $63,322, about 12% lower than the Indiana average of $71,967.
Are incomes growing in Goshen, Indiana?
Between 2009 and 2024, the median household income in Goshen, Indiana rose 47%, from $42,973 to $63,322. Over the same years, income here lagged behind Indiana as a whole: +47% against +52%.
What was the median household income in Goshen in 2023?
In 2023, the median household income in Goshen, Indiana was $60,155, up 9% from $55,183 in 2022. The Indiana median that year was $70,115.
What was the median household income in Goshen in 2020?
In 2020, the median household income in Goshen, Indiana was $52,294. By 2024 it had risen 21% to $63,322.
What is the Gini coefficient in Goshen, Indiana?
The Gini coefficient in Goshen is 0.506. 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 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Goshen, Indiana?
Since 2009, the income gap between men and women in Goshen, Indiana has narrowed from about 23% to 22% in 2024. Over that period the gap was widest at 31% in 2017, and was narrowest at 21% in 2023. In dollar terms, the gap has widened by $2,781 since 2009.
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