Wealth Index
Among the top 3 wealthiest 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 | Hendricks County | Indiana Avg | US Average |
|---|---|---|---|
| Median Household Income | $99,985 | $70,132 | $78,145 |
| Median Personal Income | $66,860 | $56,502 | $61,726 |
| Average income growth | 4.7% | 4.8% | 5.1% |
| Six-Figure Earners | 14.8% | 9.6% | 13.2% |
The median household income in Hendricks County is about 43% higher than in Indiana. Income has been growing slower in Hendricks County (4.7%/yr) than in Indiana (4.8%/yr).
About 15% of adults in Hendricks County earn six figures ($100,000 or more) a year, higher than the Indiana average of 10%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Hendricks County, Indiana grew by 53.5% from 2009 to 2023, reaching $99,985 in 2023. That's an average of about 4.7% per year.
Economic Inequality in Hendricks County | Gender Pay Gap | Gini Coefficient
| Metric | Hendricks County | Indiana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.521 | 0.544 | 0.570 |
| Male Median Income | $76,247 | $63,558 | $67,746 |
| Female Median Income | $55,787 | $49,036 | $54,793 |
| Gender Pay Gap | 26.8% | 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 Hendricks County, it is 0.521, 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 37% more than women's income in Hendricks County, Indiana. Over a 35-year career, a 37% wage gap accumulates to roughly $716,100 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Hendricks County, Indiana has narrowed from about 30% to 27% in 2023. In dollar terms, the gap has widened by $3,768 since 2009.
Employment
| Metric | Hendricks County | Indiana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.5% | 4.3% | 5.2% |
| Working from Home | 13.2% | 9.6% | 13.4% |
| Commute time (minutes) | 23 | 21 | 22 |
Approximately 2,402 people are unemployed in Hendricks County, Indiana.
The average commute time in Hendricks County is 23 minutes, longer than the 21 minutes in Indiana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Hendricks County, Indiana has fallen from 5.1% to 2.5% in 2023.
Conclusion
Considering all these factors, Hendricks County, 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 Hendricks County, Indiana.
How Rich Is Hendricks County, Indiana?
Hendricks County 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 $99,985, about 43% higher than the Indiana average of $70,132.
What is the current median household income in Hendricks County, Indiana?
As of 2023, the median household income in Hendricks County, Indiana is $99,985.
What was the median household income in Hendricks County in 2023?
In 2023, the median household income in Hendricks County, Indiana was $99,985.
What was the median household income in Hendricks County in 2020?
In 2020, the median household income in Hendricks County, Indiana was $85,305.
What is the Gini coefficient in Hendricks County, Indiana?
The Gini coefficient in Hendricks County is 0.521. 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 Hendricks County, Indiana?
Since 2009, the income gap between men and women in Hendricks County, Indiana has narrowed from about 30% to 27% in 2023. In dollar terms, the gap has widened by $3,768 since 2009.