Wealth Index
Less wealthy than 87% 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 | Fulton County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Household Income | $37,783 | $62,784 | $78,145 |
| Median Personal Income | $38,235 | $53,643 | $61,726 |
| Average income growth | 5.0% | 4.9% | 5.1% |
| Six-Figure Earners | 2.2% | 8.4% | 13.2% |
The median household income in Fulton County is about 40% lower than in Kentucky. Income has been growing faster in Fulton County (5.0%/yr) than in Kentucky (4.9%/yr).
About 2% of adults in Fulton 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 Fulton County, Kentucky grew by 29.8% from 2009 to 2023, reaching $37,783 in 2023. That's an average of about 5.0% per year.
Economic Inequality in Fulton County | Gender Pay Gap | Gini Coefficient
| Metric | Fulton County | Kentucky Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.553 | 0.554 | 0.570 |
| Male Median Income | $38,807 | $59,736 | $67,746 |
| Female Median Income | $37,992 | $47,402 | $54,793 |
| Gender Pay Gap | 2.1% | 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 Fulton County, it is 0.553, about the same as Kentucky's 0.554, so income here is about as evenly distributed as there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 2% more than women's income in Fulton County, Kentucky. Over a 35-year career, a 2% wage gap accumulates to roughly $28,525 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Fulton County, Kentucky has narrowed from about 17% to 2% in 2023. In dollar terms, the gap has narrowed by $4,331 since 2009.
Employment
| Metric | Fulton County | Kentucky Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 7.2% | 4.8% | 5.2% |
| Working from Home | 4.4% | 9.1% | 13.4% |
| Commute time (minutes) | 17 | 20 | 22 |
Approximately 170 people are unemployed in Fulton County, Kentucky.
The average commute time in Fulton County is 17 minutes, shorter than the 20 minutes in Kentucky.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Fulton County, Kentucky has fallen from 15.4% to 7.2% in 2023.
Conclusion
Considering all these factors, Fulton County, Kentucky has an overall wealth index grade of D, making it somewhat worse than Kentucky, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Fulton County, Kentucky.
How Rich Is Fulton County, Kentucky?
Fulton 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 $37,783, about 40% lower than the Kentucky average of $62,784.
What is the current median household income in Fulton County, Kentucky?
As of 2023, the median household income in Fulton County, Kentucky is $37,783.
What was the median household income in Fulton County in 2023?
In 2023, the median household income in Fulton County, Kentucky was $37,783.
What was the median household income in Fulton County in 2020?
In 2020, the median household income in Fulton County, Kentucky was $32,533.
What is the Gini coefficient in Fulton County, Kentucky?
The Gini coefficient in Fulton County is 0.553. 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 Fulton County, Kentucky?
Since 2009, the income gap between men and women in Fulton County, Kentucky has narrowed from about 17% to 2% in 2023. In dollar terms, the gap has narrowed by $4,331 since 2009.