Wealth Index
Among the 3 least wealthy counties in Kentucky
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 | Bell County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Household Income | $33,051 | $62,784 | $78,145 |
| Median Personal Income | $38,923 | $53,643 | $61,726 |
| Average income growth | 5.5% | 4.9% | 5.1% |
| Six-Figure Earners | 2.7% | 8.4% | 13.2% |
The median household income in Bell County is about 47% lower than in Kentucky. Income has been growing faster in Bell County (5.5%/yr) than in Kentucky (4.9%/yr).
About 3% of adults in Bell County earn six figures ($100,000 or more) a year, lower than the Kentucky average of 8%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Bell County, Kentucky grew by 45.3% from 2009 to 2023, reaching $33,051 in 2023. That's an average of about 5.5% per year.
Economic Inequality in Bell County | Gender Pay Gap | Gini Coefficient
| Metric | Bell County | Kentucky Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.577 | 0.554 | 0.570 |
| Male Median Income | $44,312 | $59,736 | $67,746 |
| Female Median Income | $35,118 | $47,402 | $54,793 |
| Gender Pay Gap | 20.7% | 20.6% | 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 Bell County, it is 0.577, higher than Kentucky's 0.554, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 26% more than women's income in Bell County, Kentucky. Over a 35-year career, a 26% wage gap accumulates to roughly $321,790 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Bell County, Kentucky has widened from about 9% to 21% in 2023. In dollar terms, the gap has widened by $6,257 since 2009.
Employment
| Metric | Bell County | Kentucky Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 10.5% | 4.8% | 5.2% |
| Working from Home | 3.4% | 9.1% | 13.4% |
| Commute time (minutes) | 18 | 20 | 22 |
Approximately 838 people are unemployed in Bell County, Kentucky.
The average commute time in Bell County is 18 minutes, shorter than the 20 minutes in Kentucky.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Bell County, Kentucky has fallen from 11.8% to 10.5% in 2023.
Conclusion
Considering all these factors, Bell County, Kentucky has an overall wealth index grade of F, making it worse than Kentucky, and worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Bell County, Kentucky.
How Rich Is Bell County, Kentucky?
Bell County has a wealth index grade of F. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an F grade means residents are well below the U.S. average. The median household income is $33,051, about 47% lower than the Kentucky average of $62,784.
What is the current median household income in Bell County, Kentucky?
As of 2023, the median household income in Bell County, Kentucky is $33,051.
What was the median household income in Bell County in 2023?
In 2023, the median household income in Bell County, Kentucky was $33,051.
What was the median household income in Bell County in 2020?
In 2020, the median household income in Bell County, Kentucky was $28,823.
What is the Gini coefficient in Bell County, Kentucky?
The Gini coefficient in Bell County is 0.577. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Bell County, Kentucky?
Since 2009, the income gap between men and women in Bell County, Kentucky has widened from about 9% to 21% in 2023. In dollar terms, the gap has widened by $6,257 since 2009.