Wealth Index
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 | Franklin County | Kansas Avg | US Average |
|---|---|---|---|
| Median Household Income | $72,983 | $72,682 | $78,145 |
| Median Personal Income | $51,513 | $56,764 | $61,726 |
| Average income growth | 5.2% | 4.3% | 5.1% |
| Six-Figure Earners | 7.3% | 10.6% | 13.2% |
The median household income in Franklin County is about the same as in Kansas. Income has been growing faster in Franklin County (5.2%/yr) than in Kansas (4.3%/yr).
About 7% of adults in Franklin County earn six figures ($100,000 or more) a year, lower than the Kansas average of 11%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Franklin County, Kansas grew by 52.4% from 2009 to 2023, reaching $72,983 in 2023. That's an average of about 5.2% per year.
Economic Inequality in Franklin County | Gender Pay Gap | Gini Coefficient
| Metric | Franklin County | Kansas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.501 | 0.539 | 0.570 |
| Male Median Income | $59,133 | $63,363 | $67,746 |
| Female Median Income | $43,712 | $49,832 | $54,793 |
| Gender Pay Gap | 26.1% | 21.4% | 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 Franklin County, it is 0.501, lower than Kansas's 0.539, 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 35% more than women's income in Franklin County, Kansas. Over a 35-year career, a 35% wage gap accumulates to roughly $539,735 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Franklin County, Kansas has narrowed from about 31% to 26% in 2023. In dollar terms, the gap has widened by $1,674 since 2009.
Employment
| Metric | Franklin County | Kansas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.4% | 3.9% | 5.2% |
| Working from Home | 9.3% | 10.7% | 13.4% |
| Commute time (minutes) | 20 | 17 | 22 |
Approximately 333 people are unemployed in Franklin County, Kansas.
The average commute time in Franklin County is 20 minutes, longer than the 17 minutes in Kansas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Franklin County, Kansas has fallen from 6.5% to 2.4% in 2023.
Conclusion
Considering all these factors, Franklin County, Kansas has an overall wealth index grade of C, making it about on par with Kansas, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Franklin County, Kansas.
How Rich Is Franklin County, Kansas?
Franklin 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 $72,983, close to the Kansas average of $72,682.
What is the current median household income in Franklin County, Kansas?
As of 2023, the median household income in Franklin County, Kansas is $72,983.
What was the median household income in Franklin County in 2023?
In 2023, the median household income in Franklin County, Kansas was $72,983.
What was the median household income in Franklin County in 2020?
In 2020, the median household income in Franklin County, Kansas was $55,415.
What is the Gini coefficient in Franklin County, Kansas?
The Gini coefficient in Franklin County is 0.501. 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 Franklin County, Kansas?
Since 2009, the income gap between men and women in Franklin County, Kansas has narrowed from about 31% to 26% in 2023. In dollar terms, the gap has widened by $1,674 since 2009.