Wealth Index
Wealthier than 73% of 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 | Caldwell County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Household Income | $58,073 | $62,784 | $78,145 |
| Median Personal Income | $53,889 | $53,643 | $61,726 |
| Average income growth | 4.5% | 4.9% | 5.1% |
| Six-Figure Earners | 8.6% | 8.4% | 13.2% |
The median household income in Caldwell County is about 8% lower than in Kentucky. Income has been growing slower in Caldwell County (4.5%/yr) than in Kentucky (4.9%/yr).
About 9% of adults in Caldwell County earn six figures ($100,000 or more) a year, about the same as the Kentucky average of 8%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Caldwell County, Kentucky grew by 59.6% from 2009 to 2023, reaching $58,073 in 2023. That's an average of about 4.5% per year.
Economic Inequality in Caldwell County | Gender Pay Gap | Gini Coefficient
| Metric | Caldwell County | Kentucky Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.529 | 0.554 | 0.570 |
| Male Median Income | $57,757 | $59,736 | $67,746 |
| Female Median Income | $50,633 | $47,402 | $54,793 |
| Gender Pay Gap | 12.3% | 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 Caldwell County, it is 0.529, lower than Kentucky's 0.554, 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 14% more than women's income in Caldwell County, Kentucky. Over a 35-year career, a 14% wage gap accumulates to roughly $249,340 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Caldwell County, Kentucky has narrowed from about 25% to 12% in 2023. In dollar terms, the gap has narrowed by $3,688 since 2009.
Employment
| Metric | Caldwell County | Kentucky Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.8% | 4.8% | 5.2% |
| Working from Home | 6.1% | 9.1% | 13.4% |
| Commute time (minutes) | 20 | 20 | 22 |
Approximately 158 people are unemployed in Caldwell County, Kentucky.
The average commute time in Caldwell County is 20 minutes, about the same as in Kentucky.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Caldwell County, Kentucky has fallen from 10.4% to 2.8% in 2023.
Conclusion
Considering all these factors, Caldwell County, Kentucky has an overall wealth index grade of C, making it about on par with Kentucky, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Caldwell County, Kentucky.
How Rich Is Caldwell County, Kentucky?
Caldwell 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 $58,073, about 8% lower than the Kentucky average of $62,784.
What is the current median household income in Caldwell County, Kentucky?
As of 2023, the median household income in Caldwell County, Kentucky is $58,073.
What was the median household income in Caldwell County in 2023?
In 2023, the median household income in Caldwell County, Kentucky was $58,073.
What was the median household income in Caldwell County in 2020?
In 2020, the median household income in Caldwell County, Kentucky was $49,096.
What is the Gini coefficient in Caldwell County, Kentucky?
The Gini coefficient in Caldwell County is 0.529. 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 Caldwell County, Kentucky?
Since 2009, the income gap between men and women in Caldwell County, Kentucky has narrowed from about 25% to 12% in 2023. In dollar terms, the gap has narrowed by $3,688 since 2009.