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 | Rice County | Kansas Avg | US Average |
|---|---|---|---|
| Median Household Income | $63,764 | $72,682 | $78,145 |
| Median Personal Income | $54,088 | $56,764 | $61,726 |
| Average income growth | 4.6% | 4.3% | 5.1% |
| Six-Figure Earners | 6.0% | 10.6% | 13.2% |
The median household income in Rice County is about 12% lower than in Kansas. Income has been growing faster in Rice County (4.6%/yr) than in Kansas (4.3%/yr).
About 6% of adults in Rice 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 Rice County, Kansas grew by 49.7% from 2009 to 2023, reaching $63,764 in 2023. That's an average of about 4.6% per year.
Economic Inequality in Rice County | Gender Pay Gap | Gini Coefficient
| Metric | Rice County | Kansas Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.530 | 0.539 | 0.570 |
| Male Median Income | $58,833 | $63,363 | $67,746 |
| Female Median Income | $45,542 | $49,832 | $54,793 |
| Gender Pay Gap | 22.6% | 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 Rice County, it is 0.530, 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 29% more than women's income in Rice County, Kansas. Over a 35-year career, a 29% wage gap accumulates to roughly $465,185 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Rice County, Kansas has widened from about 20% to 23% in 2023. In dollar terms, the gap has widened by $6,149 since 2009.
Employment
| Metric | Rice County | Kansas Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.3% | 3.9% | 5.2% |
| Working from Home | 5.2% | 10.7% | 13.4% |
| Commute time (minutes) | 15 | 17 | 22 |
Approximately 154 people are unemployed in Rice County, Kansas.
The average commute time in Rice County is 15 minutes, shorter than the 17 minutes in Kansas.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Rice County, Kansas has fallen from 6.3% to 3.3% in 2023.
Conclusion
Considering all these factors, Rice 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 Rice County, Kansas.
How Rich Is Rice County, Kansas?
Rice 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 $63,764, about 12% lower than the Kansas average of $72,682.
What is the current median household income in Rice County, Kansas?
As of 2023, the median household income in Rice County, Kansas is $63,764.
What was the median household income in Rice County in 2023?
In 2023, the median household income in Rice County, Kansas was $63,764.
What was the median household income in Rice County in 2020?
In 2020, the median household income in Rice County, Kansas was $49,669.
What is the Gini coefficient in Rice County, Kansas?
The Gini coefficient in Rice County is 0.530. 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 Rice County, Kansas?
Since 2009, the income gap between men and women in Rice County, Kansas has widened from about 20% to 23% in 2023. In dollar terms, the gap has widened by $6,149 since 2009.