Wealth Index
Less wealthy than 86% 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 | Tippecanoe County | Indiana Avg | US Average |
|---|---|---|---|
| Median Household Income | $58,536 | $70,132 | $78,145 |
| Median Personal Income | $52,873 | $56,502 | $61,726 |
| Average income growth | 3.0% | 4.8% | 5.1% |
| Six-Figure Earners | 7.7% | 9.6% | 13.2% |
The median household income in Tippecanoe County is about 17% lower than in Indiana. Income has been growing slower in Tippecanoe County (3.0%/yr) than in Indiana (4.8%/yr).
About 8% of adults in Tippecanoe 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 Tippecanoe County, Indiana grew by 39.4% from 2009 to 2023, reaching $58,536 in 2023. That's an average of about 3.0% per year.
Economic Inequality in Tippecanoe County | Gender Pay Gap | Gini Coefficient
| Metric | Tippecanoe County | Indiana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.586 | 0.544 | 0.570 |
| Male Median Income | $58,134 | $63,558 | $67,746 |
| Female Median Income | $46,480 | $49,036 | $54,793 |
| Gender Pay Gap | 20.0% | 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 Tippecanoe County, it is 0.586, higher than Indiana's 0.544, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 25% more than women's income in Tippecanoe County, Indiana. Over a 35-year career, a 25% wage gap accumulates to roughly $407,890 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Tippecanoe County, Indiana has narrowed from about 28% to 20% in 2023. In dollar terms, the gap has narrowed by $1,459 since 2009.
Employment
| Metric | Tippecanoe County | Indiana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.9% | 4.3% | 5.2% |
| Working from Home | 9.9% | 9.6% | 13.4% |
| Commute time (minutes) | 16 | 21 | 22 |
Approximately 2,799 people are unemployed in Tippecanoe County, Indiana.
The average commute time in Tippecanoe County is 16 minutes, shorter than the 21 minutes in Indiana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Tippecanoe County, Indiana has fallen from 7.8% to 2.9% in 2023.
Conclusion
Considering all these factors, Tippecanoe 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 Tippecanoe County, Indiana.
How Rich Is Tippecanoe County, Indiana?
Tippecanoe 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 $58,536, about 17% lower than the Indiana average of $70,132.
What is the current median household income in Tippecanoe County, Indiana?
As of 2023, the median household income in Tippecanoe County, Indiana is $58,536.
What was the median household income in Tippecanoe County in 2023?
In 2023, the median household income in Tippecanoe County, Indiana was $58,536.
What was the median household income in Tippecanoe County in 2020?
In 2020, the median household income in Tippecanoe County, Indiana was $52,157.
What is the Gini coefficient in Tippecanoe County, Indiana?
The Gini coefficient in Tippecanoe County is 0.586. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Tippecanoe County, Indiana?
Since 2009, the income gap between men and women in Tippecanoe County, Indiana has narrowed from about 28% to 20% in 2023. In dollar terms, the gap has narrowed by $1,459 since 2009.