Wealth Index
Among the 5 least wealthy counties in Indiana
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 | Grant County | Indiana Avg | US Average |
|---|---|---|---|
| Median Household Income | $54,240 | $70,132 | $78,145 |
| Median Personal Income | $49,266 | $56,502 | $61,726 |
| Average income growth | 4.3% | 4.8% | 5.1% |
| Six-Figure Earners | 4.9% | 9.6% | 13.2% |
The median household income in Grant County is about 23% lower than in Indiana. Income has been growing slower in Grant County (4.3%/yr) than in Indiana (4.8%/yr).
About 5% of adults in Grant 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 Grant County, Indiana grew by 39.7% from 2009 to 2023, reaching $54,240 in 2023. That's an average of about 4.3% per year.
Economic Inequality in Grant County | Gender Pay Gap | Gini Coefficient
| Metric | Grant County | Indiana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.541 | 0.544 | 0.570 |
| Male Median Income | $53,714 | $63,558 | $67,746 |
| Female Median Income | $44,487 | $49,036 | $54,793 |
| Gender Pay Gap | 17.2% | 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 Grant County, it is 0.541, about the same as Indiana's 0.544, so income here is about as evenly distributed as there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 21% more than women's income in Grant County, Indiana. Over a 35-year career, a 21% wage gap accumulates to roughly $322,945 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Grant County, Indiana has narrowed from about 27% to 17% in 2023. In dollar terms, the gap has narrowed by $1,848 since 2009.
Employment
| Metric | Grant County | Indiana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.7% | 4.3% | 5.2% |
| Working from Home | 7.2% | 9.6% | 13.4% |
| Commute time (minutes) | 16 | 21 | 22 |
Approximately 2,143 people are unemployed in Grant County, Indiana.
The average commute time in Grant County is 16 minutes, shorter than the 21 minutes in Indiana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Grant County, Indiana has fallen from 11.2% to 6.7% in 2023.
Conclusion
Considering all these factors, Grant County, Indiana has an overall wealth index grade of D, making it somewhat worse than Indiana, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Grant County, Indiana.
How Rich Is Grant County, Indiana?
Grant County 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 $54,240, about 23% lower than the Indiana average of $70,132.
What is the current median household income in Grant County, Indiana?
As of 2023, the median household income in Grant County, Indiana is $54,240.
What was the median household income in Grant County in 2023?
In 2023, the median household income in Grant County, Indiana was $54,240.
What was the median household income in Grant County in 2020?
In 2020, the median household income in Grant County, Indiana was $46,937.
What is the Gini coefficient in Grant County, Indiana?
The Gini coefficient in Grant County is 0.541. 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 Grant County, Indiana?
Since 2009, the income gap between men and women in Grant County, Indiana has narrowed from about 27% to 17% in 2023. In dollar terms, the gap has narrowed by $1,848 since 2009.