Greenwood, Indiana Income Statistics
Greenwood 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.
-
B
Greenwood Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Greenwood | Indiana Avg | US Average |
|---|---|---|---|
| Median Household Income | $82,149 | $71,967 | $80,455 |
| Median Personal Income | $56,667 | $55,757 | $60,758 |
| Average Yearly Income Growth | 4.9% | 4.5% | 4.8% |
| Six-Figure Earners | 11.2% | 10.2% | 13.9% |
| $200k+ Households | 8.9% | 8.2% | 13.2% |
The median household income in Greenwood is about 14% higher than in Indiana. Income has been growing faster in Greenwood (4.9%/yr) than in Indiana (4.5%/yr).
About 11% of adults in Greenwood earn six figures ($100,000 or more) a year, higher than the Indiana average of 10%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Greenwood, Indiana grew by 42.9% from 2009 to 2024, reaching $82,149 in 2024. That's an average of about 4.9% per year.
Income Inequality and the Gender Pay Gap in Greenwood
| Metric | Greenwood | Indiana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.496 | 0.534 | 0.552 |
| Male Median Income | $68,444 | $65,086 | $69,667 |
| Female Median Income | $53,739 | $51,220 | $56,850 |
| Gender Pay Gap | 21.5% | 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 Greenwood, it is 0.496, 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 27% more than women's income in Greenwood, Indiana. Over a 35-year career, a 27% wage gap accumulates to roughly $514,675 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Greenwood, Indiana has narrowed from about 33% to 21% in 2024. Over that period the gap was narrowest at 21% in 2022. In dollar terms, the gap has narrowed by $2,434 since 2009.
Employment
| Metric | Greenwood | Indiana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.3% | 4.3% | 5.2% |
| Working from Home | 12.7% | 10.7% | 15.0% |
| Commute time (minutes) | 22 | 21 | 22 |
Approximately 707 people are unemployed in Greenwood, Indiana.
The average commute time in Greenwood is 22 minutes, longer than the 21 minutes in Indiana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Greenwood, Indiana has fallen from 5.7% to 2.3% in 2024. Over that period the rate peaked at 7.6% in 2013 and fell as low as 2.3% in 2023.
Conclusion
Considering all these factors, Greenwood, Indiana has an overall wealth index grade of B, making it somewhat better than Indiana, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Greenwood, Indiana.
How Rich Is Greenwood, Indiana?
Greenwood has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $82,149, about 14% higher than the Indiana average of $71,967.
How has median household income changed in Greenwood, Indiana?
Between 2009 and 2024, the median household income in Greenwood, Indiana rose 43%, from $57,473 to $82,149. Over the same years, income here lagged behind Indiana as a whole: +43% against +52%.
What was the median household income in Greenwood in 2023?
In 2023, the median household income in Greenwood, Indiana was $80,639, up 7% from $75,193 in 2022. The Indiana median that year was $70,115.
What was the median household income in Greenwood in 2020?
In 2020, the median household income in Greenwood, Indiana was $65,270. By 2024 it had risen 26% to $82,149.
Is it hard to find a job in Greenwood, Indiana?
Unemployment in Greenwood, Indiana is only 2.3%, well below the Indiana rate of 4.3%, a sign of a tight labor market where employers compete for workers.
What is the Gini coefficient in Greenwood, Indiana?
The Gini coefficient in Greenwood is 0.496. 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 Greenwood, Indiana?
Since 2009, the income gap between men and women in Greenwood, Indiana has narrowed from about 33% to 21% in 2024. Over that period the gap was narrowest at 21% in 2022. In dollar terms, the gap has narrowed by $2,434 since 2009.
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