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 | Calloway County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Household Income | $51,674 | $62,784 | $78,145 |
| Median Personal Income | $44,296 | $53,643 | $61,726 |
| Average income growth | 5.0% | 4.9% | 5.1% |
| Six-Figure Earners | 5.3% | 8.4% | 13.2% |
The median household income in Calloway County is about 18% lower than in Kentucky. Income has been growing faster in Calloway County (5.0%/yr) than in Kentucky (4.9%/yr).
About 5% of adults in Calloway 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 Calloway County, Kentucky grew by 41.8% from 2009 to 2023, reaching $51,674 in 2023. That's an average of about 5.0% per year.
Economic Inequality in Calloway County | Gender Pay Gap | Gini Coefficient
| Metric | Calloway County | Kentucky Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.567 | 0.554 | 0.570 |
| Male Median Income | $50,487 | $59,736 | $67,746 |
| Female Median Income | $39,870 | $47,402 | $54,793 |
| Gender Pay Gap | 21.0% | 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 Calloway County, it is 0.567, higher than Kentucky's 0.554, so income is less evenly distributed here than there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 27% more than women's income in Calloway County, Kentucky. Over a 35-year career, a 27% wage gap accumulates to roughly $371,595 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Calloway County, Kentucky has narrowed from about 29% to 21% in 2023. In dollar terms, the gap has narrowed by $390 since 2009.
Employment
| Metric | Calloway County | Kentucky Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.4% | 4.8% | 5.2% |
| Working from Home | 5.3% | 9.1% | 13.4% |
| Commute time (minutes) | 13 | 20 | 22 |
Approximately 800 people are unemployed in Calloway County, Kentucky.
The average commute time in Calloway County is 13 minutes, shorter than the 20 minutes in Kentucky.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Calloway County, Kentucky has fallen from 9.0% to 4.4% in 2023.
Conclusion
Considering all these factors, Calloway County, Kentucky has an overall wealth index grade of D, making it about on par with Kentucky, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Calloway County, Kentucky.
How Rich Is Calloway County, Kentucky?
Calloway County has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $51,674, about 18% lower than the Kentucky average of $62,784.
What is the current median household income in Calloway County, Kentucky?
As of 2023, the median household income in Calloway County, Kentucky is $51,674.
What was the median household income in Calloway County in 2023?
In 2023, the median household income in Calloway County, Kentucky was $51,674.
What was the median household income in Calloway County in 2020?
In 2020, the median household income in Calloway County, Kentucky was $42,493.
What is the Gini coefficient in Calloway County, Kentucky?
The Gini coefficient in Calloway County is 0.567. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Calloway County, Kentucky?
Since 2009, the income gap between men and women in Calloway County, Kentucky has narrowed from about 29% to 21% in 2023. In dollar terms, the gap has narrowed by $390 since 2009.