Floyd County, Kentucky Income Statistics
Floyd County Wealth Score
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.
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F
Floyd County Well below averageLess wealthy than 89% of counties in Kentucky
Source: Map AI Methodology
Income Statistics Overview
| Metric | Floyd County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Household Income | $41,750 | $64,312 | $80,455 |
| Median Personal Income | $46,512 | $52,849 | $60,758 |
| Average Yearly Income Growth | 4.0% | 4.6% | 4.8% |
| Six-Figure Earners | 3.7% | 8.9% | 13.9% |
| $200k+ Households | 2.3% | 7.2% | 13.2% |
The median household income in Floyd County is about 35% lower than in Kentucky. Income has been growing slower in Floyd County (4.0%/yr) than in Kentucky (4.6%/yr).
About 4% of adults in Floyd County earn six figures ($100,000 or more) a year, lower than the Kentucky average of 9%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Floyd County, Kentucky grew by 46.7% from 2009 to 2024, reaching $41,750 in 2024. That's an average of about 4.0% per year.
Income Inequality and the Gender Pay Gap in Floyd County
| Metric | Floyd County | Kentucky Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.570 | 0.547 | 0.552 |
| Male Median Income | $57,340 | $60,966 | $69,667 |
| Female Median Income | $40,052 | $49,119 | $56,850 |
| Gender Pay Gap | 30.1% | 19.4% | 18.4% |
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 Floyd County, it is 0.570, higher than Kentucky's 0.547, so income is less evenly distributed here than there, and higher than the US's 0.552, so income is less evenly distributed here than there.
Men's income is about 43% more than women's income in Floyd County, Kentucky. Over a 35-year career, a 43% wage gap accumulates to roughly $605,080 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Floyd County, Kentucky has narrowed from about 47% to 30% in 2024. Over that period the gap was widest at 48% in 2010, and was narrowest at 21% in 2019. In dollar terms, the gap has narrowed by $4,366 since 2009.
Employment
| Metric | Floyd County | Kentucky Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 7.7% | 4.8% | 5.2% |
| Working from Home | 3.2% | 10.2% | 15.0% |
| Commute time (minutes) | 21 | 20 | 22 |
Approximately 947 people are unemployed in Floyd County, Kentucky.
The average commute time in Floyd County is 21 minutes, longer than the 20 minutes in Kentucky.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Floyd County, Kentucky has fallen from 9.5% to 7.7% in 2024. Over that period the rate peaked at 11.6% in 2018 and fell as low as 6.8% in 2022.
Floyd County, KY Wealth Compared With Nearby Counties
Floyd County, KY is the 2nd largest of the 6 counties compared here, 35,224 residents against a local median of 13,830. The measure that sets Floyd County, KY apart most is unemployment: 7.7%, 41% above the local median of 5.4%. That is the weaker end of the local range on this measure.
The counties themselves spread 5.0% on unemployment, so Floyd County, KY sits at one end of an already wide local range rather than apart from it. Floyd County, KY has the 4th lowest unemployment of the 6 areas compared here.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Floyd County, KY | 35,224 | $41,750 #4/6 | 4.0%/yr #2/6 | 7.7% #4/6 | 0.570 #4/6 |
| Knott County, KY | 13,830 | $41,985 | 5.0%/yr | 9.3% | 0.567 |
| Johnson County, KY | 22,334 | $44,929 | 3.2%/yr | 4.2% | 0.560 |
| Martin County, KY | 11,027 | $36,960 | 3.6%/yr | 5.4% | 0.651 |
| Magoffin County, KY | 11,344 | $33,230 | 1.6%/yr | 9.0% | 0.595 |
| Pike County, KY | 56,725 | $44,332 | 3.9%/yr | 5.2% | 0.568 |
Conclusion
Considering all these factors, Floyd County, Kentucky has an overall wealth index grade of F, making it somewhat worse than Kentucky, and worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Floyd County, Kentucky.
How Rich Is Floyd County, Kentucky?
Floyd 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 $41,750, about 35% lower than the Kentucky average of $64,312.
How has median household income changed in Floyd County, Kentucky?
Between 2009 and 2024, the median household income in Floyd County, Kentucky rose 47%, from $28,456 to $41,750. Over the same years, income here lagged behind Kentucky as a whole: +47% against +56%.
What was the median household income in Floyd County in 2023?
In 2023, the median household income in Floyd County, Kentucky was $41,810, up 7% from $39,143 in 2022. The Kentucky median that year was $62,783.
What was the median household income in Floyd County in 2020?
In 2020, the median household income in Floyd County, Kentucky was $35,095. By 2024 it had risen 19% to $41,750.
Is unemployment high in Floyd County, Kentucky?
Unemployment in Floyd County, Kentucky is 7.7%, well above the Kentucky rate of 4.8%, so job seekers may face more competition than elsewhere.
What is the Gini coefficient in Floyd County, Kentucky?
The Gini coefficient in Floyd County is 0.570. 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 0.552, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Floyd County, Kentucky?
Since 2009, the income gap between men and women in Floyd County, Kentucky has narrowed from about 47% to 30% in 2024. Over that period the gap was widest at 48% in 2010, and was narrowest at 21% in 2019. In dollar terms, the gap has narrowed by $4,366 since 2009.
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