Wealth Index
Wealthier than 77% 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 | Shelby County | Indiana Avg | US Average |
|---|---|---|---|
| Median Household Income | $71,517 | $70,132 | $78,145 |
| Median Personal Income | $58,135 | $56,502 | $61,726 |
| Average income growth | 4.3% | 4.8% | 5.1% |
| Six-Figure Earners | 8.4% | 9.6% | 13.2% |
The median household income in Shelby County is about 2% higher than in Indiana. Income has been growing slower in Shelby County (4.3%/yr) than in Indiana (4.8%/yr).
About 8% of adults in Shelby 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 Shelby County, Indiana grew by 38.4% from 2009 to 2023, reaching $71,517 in 2023. That's an average of about 4.3% per year.
Economic Inequality in Shelby County | Gender Pay Gap | Gini Coefficient
| Metric | Shelby County | Indiana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.511 | 0.544 | 0.570 |
| Male Median Income | $65,924 | $63,558 | $67,746 |
| Female Median Income | $48,294 | $49,036 | $54,793 |
| Gender Pay Gap | 26.7% | 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 Shelby County, it is 0.511, 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 37% more than women's income in Shelby County, Indiana. Over a 35-year career, a 37% wage gap accumulates to roughly $617,050 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Shelby County, Indiana has narrowed from about 29% to 27% in 2023. In dollar terms, the gap has widened by $3,906 since 2009.
Employment
| Metric | Shelby County | Indiana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.0% | 4.3% | 5.2% |
| Working from Home | 8.5% | 9.6% | 13.4% |
| Commute time (minutes) | 21 | 21 | 22 |
Approximately 931 people are unemployed in Shelby County, Indiana.
The average commute time in Shelby County is 21 minutes, about the same as in Indiana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Shelby County, Indiana has fallen from 8.0% to 4.0% in 2023.
Conclusion
Considering all these factors, Shelby County, Indiana has an overall wealth index grade of B, making it somewhat better than Indiana, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Shelby County, Indiana.
How Rich Is Shelby County, Indiana?
Shelby County has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $71,517, about 2% higher than the Indiana average of $70,132.
What is the current median household income in Shelby County, Indiana?
As of 2023, the median household income in Shelby County, Indiana is $71,517.
What was the median household income in Shelby County in 2023?
In 2023, the median household income in Shelby County, Indiana was $71,517.
What was the median household income in Shelby County in 2020?
In 2020, the median household income in Shelby County, Indiana was $59,772.
What is the Gini coefficient in Shelby County, Indiana?
The Gini coefficient in Shelby County is 0.511. 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 Shelby County, Indiana?
Since 2009, the income gap between men and women in Shelby County, Indiana has narrowed from about 29% to 27% in 2023. In dollar terms, the gap has widened by $3,906 since 2009.