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 | Howard County | Indiana Avg | US Average |
|---|---|---|---|
| Median Household Income | $63,866 | $70,132 | $78,145 |
| Median Personal Income | $53,779 | $56,502 | $61,726 |
| Average income growth | 4.8% | 4.8% | 5.1% |
| Six-Figure Earners | 8.1% | 9.6% | 13.2% |
The median household income in Howard County is about 9% lower than in Indiana. Income has been growing slower in Howard County (4.8%/yr) than in Indiana (4.8%/yr).
About 8% of adults in Howard 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 Howard County, Indiana grew by 36.8% from 2009 to 2023, reaching $63,866 in 2023. That's an average of about 4.8% per year.
Economic Inequality in Howard County | Gender Pay Gap | Gini Coefficient
| Metric | Howard County | Indiana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.530 | 0.544 | 0.570 |
| Male Median Income | $64,076 | $63,558 | $67,746 |
| Female Median Income | $45,398 | $49,036 | $54,793 |
| Gender Pay Gap | 29.1% | 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 Howard County, it is 0.530, 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 41% more than women's income in Howard County, Indiana. Over a 35-year career, a 41% wage gap accumulates to roughly $653,730 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Howard County, Indiana has narrowed from about 33% to 29% in 2023. In dollar terms, the gap has widened by $1,282 since 2009.
Employment
| Metric | Howard County | Indiana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.7% | 4.3% | 5.2% |
| Working from Home | 6.2% | 9.6% | 13.4% |
| Commute time (minutes) | 16 | 21 | 22 |
Approximately 2,259 people are unemployed in Howard County, Indiana.
The average commute time in Howard County is 16 minutes, shorter than the 21 minutes in Indiana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Howard County, Indiana has fallen from 11.2% to 5.7% in 2023.
Conclusion
Considering all these factors, Howard 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 Howard County, Indiana.
How Rich Is Howard County, Indiana?
Howard 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 $63,866, about 9% lower than the Indiana average of $70,132.
What is the current median household income in Howard County, Indiana?
As of 2023, the median household income in Howard County, Indiana is $63,866.
What was the median household income in Howard County in 2023?
In 2023, the median household income in Howard County, Indiana was $63,866.
What was the median household income in Howard County in 2020?
In 2020, the median household income in Howard County, Indiana was $56,099.
What is the Gini coefficient in Howard County, Indiana?
The Gini coefficient in Howard County is 0.530. 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 Howard County, Indiana?
Since 2009, the income gap between men and women in Howard County, Indiana has narrowed from about 33% to 29% in 2023. In dollar terms, the gap has widened by $1,282 since 2009.