Lake County, Indiana Income Statistics
Lake County Wealth Score
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.
-
C
Lake County Below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Lake County | Indiana Avg | US Average |
|---|---|---|---|
| Median Household Income | $71,540 | $71,967 | $80,455 |
| Median Personal Income | $57,289 | $55,757 | $60,758 |
| Average Yearly Income Growth | 4.4% | 4.5% | 4.8% |
| Six-Figure Earners | 10.9% | 10.2% | 13.9% |
| $200k+ Households | 8.3% | 8.2% | 13.2% |
The median household income in Lake County is about 1% lower than in Indiana. Income has been growing slower in Lake County (4.4%/yr) than in Indiana (4.5%/yr).
About 11% of adults in Lake County 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 Lake County, Indiana grew by 48.5% from 2009 to 2024, reaching $71,540 in 2024. That's an average of about 4.4% per year.
Income Inequality and the Gender Pay Gap in Lake County
| Metric | Lake County | Indiana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.553 | 0.534 | 0.552 |
| Male Median Income | $71,930 | $65,086 | $69,667 |
| Female Median Income | $51,000 | $51,220 | $56,850 |
| Gender Pay Gap | 29.1% | 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 Lake County, it is 0.553, higher than Indiana's 0.534, so income is less evenly distributed here than there, and about the same as the US's 0.552, so income here is about as evenly distributed as there.
Men's income is about 41% more than women's income in Lake County, Indiana. Over a 35-year career, a 41% wage gap accumulates to roughly $732,550 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Lake County, Indiana has narrowed from about 34% to 29% in 2024. Over that period the gap was narrowest at 26% in 2018. In dollar terms, the gap has widened by $3,727 since 2009.
Employment
| Metric | Lake County | Indiana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.1% | 4.3% | 5.2% |
| Working from Home | 8.2% | 10.7% | 15.0% |
| Commute time (minutes) | 23 | 21 | 22 |
Approximately 14,716 people are unemployed in Lake County, Indiana.
The average commute time in Lake County is 23 minutes, longer than the 21 minutes in Indiana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Lake County, Indiana has fallen from 10.3% to 6.1% in 2024. Over that period the rate peaked at 11.6% in 2013.
Lake County, IN Wealth Compared With Nearby Counties
Lake County, IN is the 2nd largest of the 6 counties compared here, 498,291 residents against a local median of 106,635. Where Lake County, IN breaks from the counties next to it is unemployment, sitting 23% above the local median of 4.9% at 6.1%. That is the weaker end of the local range on this measure.
The counties themselves spread 2.3% on unemployment, so Lake County, IN sits at one end of an already wide local range rather than apart from it. Lake County, IN has the 4th lowest unemployment of the 6 areas compared here.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Lake County, IN | 498,291 | $71,540 #6/6 | 4.4%/yr #4/6 | 6.1% #4/6 | 0.553 #5/6 |
| Porter County, IN | 174,798 | $86,949 | 3.7%/yr | 4.7% | 0.543 |
| Cook County, IL | 5,180,889 | $84,208 | 4.9%/yr | 7.0% | 0.555 |
| Newton County, IN | 13,922 | $75,394 | 5.3%/yr | 6.5% | 0.524 |
| Jasper County, IN | 33,234 | $77,979 | 4.4%/yr | 4.9% | 0.534 |
| Kankakee County, IL | 106,635 | $72,136 | 3.4%/yr | 4.9% | 0.539 |
Conclusion
Considering all these factors, Lake 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 Lake County, Indiana.
How Rich Is Lake County, Indiana?
Lake 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 $71,540, about 1% lower than the Indiana average of $71,967.
How has median household income changed in Lake County, Indiana?
Between 2009 and 2024, the median household income in Lake County, Indiana rose 48%, from $48,185 to $71,540. Over the same years, income here lagged behind Indiana as a whole: +48% against +52%.
What was the median household income in Lake County in 2023?
In 2023, the median household income in Lake County, Indiana was $69,281, up 4% from $66,848 in 2022. The Indiana median that year was $70,115.
What was the median household income in Lake County in 2020?
In 2020, the median household income in Lake County, Indiana was $57,744. By 2024 it had risen 24% to $71,540.
How strong is the job market in Lake County, Indiana?
Unemployment in Lake County, Indiana is 6.1%, well above the Indiana rate of 4.3%, so job seekers may face more competition than elsewhere.
What is the Gini coefficient in Lake County, Indiana?
The Gini coefficient in Lake County is 0.553. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.552, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Lake County, Indiana?
Since 2009, the income gap between men and women in Lake County, Indiana has narrowed from about 34% to 29% in 2024. Over that period the gap was narrowest at 26% in 2018. In dollar terms, the gap has widened by $3,727 since 2009.
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