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 | Noble County | Indiana Avg | US Average |
|---|---|---|---|
| Median Household Income | $71,378 | $70,132 | $78,145 |
| Median Personal Income | $54,098 | $56,502 | $61,726 |
| Average income growth | 5.4% | 4.8% | 5.1% |
| Six-Figure Earners | 6.8% | 9.6% | 13.2% |
The median household income in Noble County is about 2% higher than in Indiana. Income has been growing faster in Noble County (5.4%/yr) than in Indiana (4.8%/yr).
About 7% of adults in Noble 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 Noble County, Indiana grew by 52.5% from 2009 to 2023, reaching $71,378 in 2023. That's an average of about 5.4% per year.
Economic Inequality in Noble County | Gender Pay Gap | Gini Coefficient
| Metric | Noble County | Indiana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.483 | 0.544 | 0.570 |
| Male Median Income | $62,380 | $63,558 | $67,746 |
| Female Median Income | $47,638 | $49,036 | $54,793 |
| Gender Pay Gap | 23.6% | 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 Noble County, it is 0.483, 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 31% more than women's income in Noble County, Indiana. Over a 35-year career, a 31% wage gap accumulates to roughly $515,970 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Noble County, Indiana has narrowed from about 25% to 24% in 2023. In dollar terms, the gap has widened by $4,510 since 2009.
Employment
| Metric | Noble County | Indiana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.1% | 4.3% | 5.2% |
| Working from Home | 4.9% | 9.6% | 13.4% |
| Commute time (minutes) | 21 | 21 | 22 |
Approximately 742 people are unemployed in Noble County, Indiana.
The average commute time in Noble County is 21 minutes, about the same as in Indiana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Noble County, Indiana has fallen from 11.6% to 3.1% in 2023.
Conclusion
Considering all these factors, Noble 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 Noble County, Indiana.
How Rich Is Noble County, Indiana?
Noble 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 $71,378, about 2% higher than the Indiana average of $70,132.
What is the current median household income in Noble County, Indiana?
As of 2023, the median household income in Noble County, Indiana is $71,378.
What was the median household income in Noble County in 2023?
In 2023, the median household income in Noble County, Indiana was $71,378.
What was the median household income in Noble County in 2020?
In 2020, the median household income in Noble County, Indiana was $59,248.
What is the Gini coefficient in Noble County, Indiana?
The Gini coefficient in Noble County is 0.483. 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 Noble County, Indiana?
Since 2009, the income gap between men and women in Noble County, Indiana has narrowed from about 25% to 24% in 2023. In dollar terms, the gap has widened by $4,510 since 2009.