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 | Martin County | Indiana Avg | US Average |
|---|---|---|---|
| Median Household Income | $65,000 | $70,132 | $78,145 |
| Median Personal Income | $52,252 | $56,502 | $61,726 |
| Average income growth | 4.7% | 4.8% | 5.1% |
| Six-Figure Earners | 6.3% | 9.6% | 13.2% |
The median household income in Martin County is about 7% lower than in Indiana. Income has been growing slower in Martin County (4.7%/yr) than in Indiana (4.8%/yr).
About 6% of adults in Martin 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 Martin County, Indiana grew by 51.5% from 2009 to 2023, reaching $65,000 in 2023. That's an average of about 4.7% per year.
Economic Inequality in Martin County | Gender Pay Gap | Gini Coefficient
| Metric | Martin County | Indiana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.492 | 0.544 | 0.570 |
| Male Median Income | $50,501 | $63,558 | $67,746 |
| Female Median Income | $53,686 | $49,036 | $54,793 |
| Gender Pay Gap | -6.3% | 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 Martin County, it is 0.492, 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.
Women's income is about 6% more than men's income in Martin County, Indiana. Over a 35-year career, a 6% wage gap accumulates to roughly $111,475 in unearned income for male workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Martin County, Indiana has narrowed from about 24% to -6% in 2023. In dollar terms, the gap has narrowed by $13,070 since 2009.
Employment
| Metric | Martin County | Indiana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.1% | 4.3% | 5.2% |
| Working from Home | 8.8% | 9.6% | 13.4% |
| Commute time (minutes) | 27 | 21 | 22 |
Approximately 104 people are unemployed in Martin County, Indiana.
The average commute time in Martin County is 27 minutes, longer than the 21 minutes in Indiana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Martin County, Indiana has fallen from 7.2% to 2.1% in 2023.
Conclusion
Considering all these factors, Martin 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 Martin County, Indiana.
How Rich Is Martin County, Indiana?
Martin 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 $65,000, about 7% lower than the Indiana average of $70,132.
What is the current median household income in Martin County, Indiana?
As of 2023, the median household income in Martin County, Indiana is $65,000.
What was the median household income in Martin County in 2023?
In 2023, the median household income in Martin County, Indiana was $65,000.
What was the median household income in Martin County in 2020?
In 2020, the median household income in Martin County, Indiana was $55,056.
What is the Gini coefficient in Martin County, Indiana?
The Gini coefficient in Martin County is 0.492. 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 Martin County, Indiana?
Since 2009, the income gap between men and women in Martin County, Indiana has narrowed from about 24% to -6% in 2023. In dollar terms, the gap has narrowed by $13,070 since 2009.