Wealth Index
Less wealthy than 74% 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 | Vermillion County | Indiana Avg | US Average |
|---|---|---|---|
| Median Household Income | $59,360 | $70,132 | $78,145 |
| Median Personal Income | $50,732 | $56,502 | $61,726 |
| Average income growth | 4.3% | 4.8% | 5.1% |
| Six-Figure Earners | 5.3% | 9.6% | 13.2% |
The median household income in Vermillion County is about 15% lower than in Indiana. Income has been growing slower in Vermillion County (4.3%/yr) than in Indiana (4.8%/yr).
About 5% of adults in Vermillion 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 Vermillion County, Indiana grew by 37.1% from 2009 to 2023, reaching $59,360 in 2023. That's an average of about 4.3% per year.
Economic Inequality in Vermillion County | Gender Pay Gap | Gini Coefficient
| Metric | Vermillion County | Indiana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.527 | 0.544 | 0.570 |
| Male Median Income | $59,263 | $63,558 | $67,746 |
| Female Median Income | $42,499 | $49,036 | $54,793 |
| Gender Pay Gap | 28.3% | 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 Vermillion County, it is 0.527, 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 39% more than women's income in Vermillion County, Indiana. Over a 35-year career, a 39% wage gap accumulates to roughly $586,740 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Vermillion County, Indiana has narrowed from about 38% to 28% in 2023. In dollar terms, the gap has narrowed by $97 since 2009.
Employment
| Metric | Vermillion County | Indiana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.0% | 4.3% | 5.2% |
| Working from Home | 8.4% | 9.6% | 13.4% |
| Commute time (minutes) | 25 | 21 | 22 |
Approximately 430 people are unemployed in Vermillion County, Indiana.
The average commute time in Vermillion County is 25 minutes, longer than the 21 minutes in Indiana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Vermillion County, Indiana has fallen from 8.0% to 6.0% in 2023.
Conclusion
Considering all these factors, Vermillion County, Indiana has an overall wealth index grade of C, making it about on par with Indiana, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Vermillion County, Indiana.
How Rich Is Vermillion County, Indiana?
Vermillion 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 $59,360, about 15% lower than the Indiana average of $70,132.
What is the current median household income in Vermillion County, Indiana?
As of 2023, the median household income in Vermillion County, Indiana is $59,360.
What was the median household income in Vermillion County in 2023?
In 2023, the median household income in Vermillion County, Indiana was $59,360.
What was the median household income in Vermillion County in 2020?
In 2020, the median household income in Vermillion County, Indiana was $53,085.
What is the Gini coefficient in Vermillion County, Indiana?
The Gini coefficient in Vermillion County is 0.527. 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 Vermillion County, Indiana?
Since 2009, the income gap between men and women in Vermillion County, Indiana has narrowed from about 38% to 28% in 2023. In dollar terms, the gap has narrowed by $97 since 2009.