Wealth Index
The wealth index reflects the overall economic prosperity and financial well-being of a state's residents based on income levels, employment rates, and income inequality metrics.
Wealthiest and Least Wealthy Counties in Indiana
- Hamilton County (131% of U.S. avg)
- Boone County (125% of U.S. avg)
- Hendricks County (116% of U.S. avg)
- Delaware County (84% of U.S. avg)
- Crawford County (85% of U.S. avg)
- Vigo County (85% of U.S. avg)
Ranked by the Map AI Wealth Index, which combines income, employment, and income inequality metrics.
Income Statistics Overview
| Metric | Indiana | US Average |
|---|---|---|
| Median Household Income | $70,132 | $78,145 |
| Median Personal Income | $56,502 | $61,726 |
| Average income growth | 4.8% | 5.1% |
| Six-Figure Earners | 9.6% | 13.2% |
The median household income in Indiana is about 10% lower than in US. Income has been growing slower in Indiana (4.8%/yr) than in US (5.1%/yr).
About 10% of adults in Indiana earn six figures ($100,000 or more) a year, lower than the US average of 13%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Indiana grew by 47.7% from 2009 to 2023, reaching $70,132 in 2023. That's an average of about 4.8% per year.
Economic Inequality in Indiana | Gender Pay Gap | Gini Coefficient
| Metric | Indiana | US Average |
|---|---|---|
| Gini Coefficient | 0.544 | 0.570 |
| Male Median Income | $63,558 | $67,746 |
| Female Median Income | $49,036 | $54,793 |
| Gender Pay Gap | 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 Indiana, it is 0.544, lower than 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 Indiana. Over a 35-year career, a 30% wage gap accumulates to roughly $508,270 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Indiana has narrowed from about 28% to 23% in 2023. In dollar terms, the gap has widened by $1,918 since 2009.
Employment
| Metric | Indiana | US Average |
|---|---|---|
| Unemployment Rate | 4.3% | 5.2% |
| Working from Home | 9.6% | 13.4% |
| Commute time (minutes) | 21 | 22 |
Approximately 148,553 people are unemployed in Indiana.
The average commute time in Indiana is 21 minutes, shorter than the 22 minutes in US.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Indiana has fallen from 9.0% to 4.3% in 2023.
Conclusion
Considering all these factors, Indiana has an overall wealth index grade of C, making it about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Indiana.
How Wealthy Is Indiana?
Indiana 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 $70,132, about 10% lower than the US average of $78,145.
What is the current median household income in Indiana?
As of 2023, the median household income in Indiana is $70,132.
What was the median household income in Indiana in 2023?
In 2023, the median household income in Indiana was $70,132.
What was the median household income in Indiana in 2020?
In 2020, the median household income in Indiana was $58,472.
What is the Gini coefficient in Indiana?
The Gini coefficient in Indiana is 0.544. 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 Indiana?
Since 2009, the income gap between men and women in Indiana has narrowed from about 28% to 23% in 2023. In dollar terms, the gap has widened by $1,918 since 2009.