Wealth Index
Less wealthy than 85% 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 | Switzerland County | Indiana Avg | US Average |
|---|---|---|---|
| Median Household Income | $65,440 | $70,132 | $78,145 |
| Median Personal Income | $51,615 | $56,502 | $61,726 |
| Average income growth | 6.1% | 4.8% | 5.1% |
| Six-Figure Earners | 5.8% | 9.6% | 13.2% |
The median household income in Switzerland County is about 7% lower than in Indiana. Income has been growing faster in Switzerland County (6.1%/yr) than in Indiana (4.8%/yr).
About 6% of adults in Switzerland 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 Switzerland County, Indiana grew by 48.9% from 2009 to 2023, reaching $65,440 in 2023. That's an average of about 6.1% per year.
Economic Inequality in Switzerland County | Gender Pay Gap | Gini Coefficient
| Metric | Switzerland County | Indiana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.528 | 0.544 | 0.570 |
| Male Median Income | $57,384 | $63,558 | $67,746 |
| Female Median Income | $44,138 | $49,036 | $54,793 |
| Gender Pay Gap | 23.1% | 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 Switzerland County, it is 0.528, 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 30% more than women's income in Switzerland County, Indiana. Over a 35-year career, a 30% wage gap accumulates to roughly $463,610 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Switzerland County, Indiana has narrowed from about 27% to 23% in 2023. In dollar terms, the gap has widened by $1,465 since 2009.
Employment
| Metric | Switzerland County | Indiana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.1% | 4.3% | 5.2% |
| Working from Home | 3.9% | 9.6% | 13.4% |
| Commute time (minutes) | 31 | 21 | 22 |
Approximately 193 people are unemployed in Switzerland County, Indiana.
The average commute time in Switzerland County is 31 minutes, longer than the 21 minutes in Indiana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Switzerland County, Indiana has fallen from 10.0% to 4.1% in 2023.
Conclusion
Considering all these factors, Switzerland County, Indiana has an overall wealth index grade of D, making it about on par with Indiana, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Switzerland County, Indiana.
How Rich Is Switzerland County, Indiana?
Switzerland County has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $65,440, about 7% lower than the Indiana average of $70,132.
What is the current median household income in Switzerland County, Indiana?
As of 2023, the median household income in Switzerland County, Indiana is $65,440.
What was the median household income in Switzerland County in 2023?
In 2023, the median household income in Switzerland County, Indiana was $65,440.
What was the median household income in Switzerland County in 2020?
In 2020, the median household income in Switzerland County, Indiana was $51,480.
What is the Gini coefficient in Switzerland County, Indiana?
The Gini coefficient in Switzerland County is 0.528. 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 Switzerland County, Indiana?
Since 2009, the income gap between men and women in Switzerland County, Indiana has narrowed from about 27% to 23% in 2023. In dollar terms, the gap has widened by $1,465 since 2009.