Wealth Index
Wealthier than 87% 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 | Tipton County | Indiana Avg | US Average |
|---|---|---|---|
| Median Household Income | $78,094 | $70,132 | $78,145 |
| Median Personal Income | $60,263 | $56,502 | $61,726 |
| Average income growth | 5.4% | 4.8% | 5.1% |
| Six-Figure Earners | 9.1% | 9.6% | 13.2% |
The median household income in Tipton County is about 11% higher than in Indiana. Income has been growing faster in Tipton County (5.4%/yr) than in Indiana (4.8%/yr).
About 9% of adults in Tipton County earn six figures ($100,000 or more) a year, about the same as the Indiana average of 10%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Tipton County, Indiana grew by 54.0% from 2009 to 2023, reaching $78,094 in 2023. That's an average of about 5.4% per year.
Economic Inequality in Tipton County | Gender Pay Gap | Gini Coefficient
| Metric | Tipton County | Indiana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.509 | 0.544 | 0.570 |
| Male Median Income | $67,524 | $63,558 | $67,746 |
| Female Median Income | $52,455 | $49,036 | $54,793 |
| Gender Pay Gap | 22.3% | 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 Tipton County, it is 0.509, 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 29% more than women's income in Tipton County, Indiana. Over a 35-year career, a 29% wage gap accumulates to roughly $527,415 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Tipton County, Indiana has narrowed from about 24% to 22% in 2023. In dollar terms, the gap has widened by $4,627 since 2009.
Employment
| Metric | Tipton County | Indiana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.0% | 4.3% | 5.2% |
| Working from Home | 7.1% | 9.6% | 13.4% |
| Commute time (minutes) | 22 | 21 | 22 |
Approximately 230 people are unemployed in Tipton County, Indiana.
The average commute time in Tipton County is 22 minutes, longer than the 21 minutes in Indiana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Tipton County, Indiana has fallen from 7.0% to 3.0% in 2023.
Conclusion
Considering all these factors, Tipton 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 Tipton County, Indiana.
How Rich Is Tipton County, Indiana?
Tipton 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 $78,094, about 11% higher than the Indiana average of $70,132.
What is the current median household income in Tipton County, Indiana?
As of 2023, the median household income in Tipton County, Indiana is $78,094.
What was the median household income in Tipton County in 2023?
In 2023, the median household income in Tipton County, Indiana was $78,094.
What was the median household income in Tipton County in 2020?
In 2020, the median household income in Tipton County, Indiana was $68,962.
What is the Gini coefficient in Tipton County, Indiana?
The Gini coefficient in Tipton County is 0.509. 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 Tipton County, Indiana?
Since 2009, the income gap between men and women in Tipton County, Indiana has narrowed from about 24% to 22% in 2023. In dollar terms, the gap has widened by $4,627 since 2009.