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 | LaGrange County | Indiana Avg | US Average |
|---|---|---|---|
| Median Household Income | $82,506 | $70,132 | $78,145 |
| Median Personal Income | $57,705 | $56,502 | $61,726 |
| Average income growth | 6.0% | 4.8% | 5.1% |
| Six-Figure Earners | 9.6% | 9.6% | 13.2% |
The median household income in LaGrange County is about 18% higher than in Indiana. Income has been growing faster in LaGrange County (6.0%/yr) than in Indiana (4.8%/yr).
About 10% of adults in LaGrange County earn six figures ($100,000 or more) a year, about the same as the Indiana average of 10%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in LaGrange County, Indiana grew by 67.2% from 2009 to 2023, reaching $82,506 in 2023. That's an average of about 6.0% per year.
Economic Inequality in LaGrange County | Gender Pay Gap | Gini Coefficient
| Metric | LaGrange County | Indiana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.543 | 0.544 | 0.570 |
| Male Median Income | $66,360 | $63,558 | $67,746 |
| Female Median Income | $43,203 | $49,036 | $54,793 |
| Gender Pay Gap | 34.9% | 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 LaGrange County, it is 0.543, 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 54% more than women's income in LaGrange County, Indiana. Over a 35-year career, a 54% wage gap accumulates to roughly $810,495 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in LaGrange County, Indiana has widened from about 30% to 35% in 2023. In dollar terms, the gap has widened by $10,693 since 2009.
Employment
| Metric | LaGrange County | Indiana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.4% | 4.3% | 5.2% |
| Working from Home | 8.1% | 9.6% | 13.4% |
| Commute time (minutes) | 20 | 21 | 22 |
Approximately 646 people are unemployed in LaGrange County, Indiana.
The average commute time in LaGrange County is 20 minutes, shorter than the 21 minutes in Indiana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in LaGrange County, Indiana has fallen from 8.9% to 3.4% in 2023.
Conclusion
Considering all these factors, LaGrange County, Indiana has an overall wealth index grade of C, making it somewhat better than Indiana, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in LaGrange County, Indiana.
How Rich Is LaGrange County, Indiana?
LaGrange 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 $82,506, about 18% higher than the Indiana average of $70,132.
What is the current median household income in LaGrange County, Indiana?
As of 2023, the median household income in LaGrange County, Indiana is $82,506.
What was the median household income in LaGrange County in 2023?
In 2023, the median household income in LaGrange County, Indiana was $82,506.
What was the median household income in LaGrange County in 2020?
In 2020, the median household income in LaGrange County, Indiana was $67,902.
What is the Gini coefficient in LaGrange County, Indiana?
The Gini coefficient in LaGrange County is 0.543. 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 LaGrange County, Indiana?
Since 2009, the income gap between men and women in LaGrange County, Indiana has widened from about 30% to 35% in 2023. In dollar terms, the gap has widened by $10,693 since 2009.