Wealth Index
Less wealthy than 76% of 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 | Knox County | Indiana Avg | US Average |
|---|---|---|---|
| Median Household Income | $59,265 | $70,132 | $78,145 |
| Median Personal Income | $48,368 | $56,502 | $61,726 |
| Average income growth | 4.2% | 4.8% | 5.1% |
| Six-Figure Earners | 6.5% | 9.6% | 13.2% |
The median household income in Knox County is about 15% lower than in Indiana. Income has been growing slower in Knox County (4.2%/yr) than in Indiana (4.8%/yr).
About 7% of adults in Knox 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 Knox County, Indiana grew by 51.9% from 2009 to 2023, reaching $59,265 in 2023. That's an average of about 4.2% per year.
Economic Inequality in Knox County | Gender Pay Gap | Gini Coefficient
| Metric | Knox County | Indiana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.534 | 0.544 | 0.570 |
| Male Median Income | $54,025 | $63,558 | $67,746 |
| Female Median Income | $43,146 | $49,036 | $54,793 |
| Gender Pay Gap | 20.1% | 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 Knox County, it is 0.534, 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 25% more than women's income in Knox County, Indiana. Over a 35-year career, a 25% wage gap accumulates to roughly $380,765 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Knox County, Indiana has narrowed from about 31% to 20% in 2023. In dollar terms, the gap has narrowed by $1,646 since 2009.
Employment
| Metric | Knox County | Indiana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.5% | 4.3% | 5.2% |
| Working from Home | 2.0% | 9.6% | 13.4% |
| Commute time (minutes) | 15 | 21 | 22 |
Approximately 459 people are unemployed in Knox County, Indiana.
The average commute time in Knox County is 15 minutes, shorter than the 21 minutes in Indiana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Knox County, Indiana has fallen from 6.9% to 2.5% in 2023.
Conclusion
Considering all these factors, Knox 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 Knox County, Indiana.
How Rich Is Knox County, Indiana?
Knox 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 $59,265, about 15% lower than the Indiana average of $70,132.
What is the current median household income in Knox County, Indiana?
As of 2023, the median household income in Knox County, Indiana is $59,265.
What was the median household income in Knox County in 2023?
In 2023, the median household income in Knox County, Indiana was $59,265.
What was the median household income in Knox County in 2020?
In 2020, the median household income in Knox County, Indiana was $48,442.
What is the Gini coefficient in Knox County, Indiana?
The Gini coefficient in Knox County is 0.534. 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 Knox County, Indiana?
Since 2009, the income gap between men and women in Knox County, Indiana has narrowed from about 31% to 20% in 2023. In dollar terms, the gap has narrowed by $1,646 since 2009.