Hancock County, Kentucky Income Statistics
Hancock 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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C
Hancock County Below averageWealthier than 82% of counties in Kentucky
Source: Map AI Methodology
Income Statistics Overview
| Metric | Hancock County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Household Income | $64,984 | $64,312 | $80,455 |
| Median Personal Income | $52,483 | $52,849 | $60,758 |
| Average Yearly Income Growth | 3.7% | 4.6% | 4.8% |
| Six-Figure Earners | 7.4% | 8.9% | 13.9% |
| $200k+ Households | 2.2% | 7.2% | 13.2% |
The median household income in Hancock County is about 1% higher than in Kentucky. Income has been growing slower in Hancock County (3.7%/yr) than in Kentucky (4.6%/yr).
About 7% of adults in Hancock 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 Hancock County, Kentucky grew by 44.7% from 2009 to 2024, reaching $64,984 in 2024. That's an average of about 3.7% per year.
Income Inequality and the Gender Pay Gap in Hancock County
| Metric | Hancock County | Kentucky Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.537 | 0.547 | 0.552 |
| Male Median Income | $64,150 | $60,966 | $69,667 |
| Female Median Income | $42,761 | $49,119 | $56,850 |
| Gender Pay Gap | 33.3% | 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 Hancock County, it is 0.537, lower than Kentucky's 0.547, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 50% more than women's income in Hancock County, Kentucky. Over a 35-year career, a 50% wage gap accumulates to roughly $748,615 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Hancock County, Kentucky has narrowed from about 44% to 33% in 2024. Over that period the gap was widest at 45% in 2010, and was narrowest at 25% in 2021. In dollar terms, the gap has widened by $607 since 2009.
Employment
| Metric | Hancock County | Kentucky Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.4% | 4.8% | 5.2% |
| Working from Home | 3.1% | 10.2% | 15.0% |
| Commute time (minutes) | 20 | 20 | 22 |
Approximately 181 people are unemployed in Hancock County, Kentucky.
The average commute time in Hancock County is 20 minutes, about the same as in Kentucky.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Hancock County, Kentucky has fallen from 6.2% to 4.4% in 2024. Over that period the rate peaked at 6.6% in 2016 and fell as low as 3.9% in 2023.
Hancock County, KY Wealth Compared With Nearby Counties
Hancock County, KY is the smallest of the 6 counties compared here, 9,034 residents against a local median of 20,880. Hancock County, KY sits close to the middle of its own neighbourhood. No measure below is more than 15% off the local median, so the choice between these counties turns on things this data does not capture.
The largest of those small differences is income growth, 8% below the local median at 3.7%/yr against 4.1%/yr. Hancock County, KY has the 4th highest income growth 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. |
|---|---|---|---|---|---|
| Hancock County, KY | 9,034 | $64,984 #3/6 | 3.7%/yr #4/6 | 4.4% #2/6 | 0.537 #5/6 |
| Perry County, IN | 19,268 | $60,570 | 3.2%/yr | 4.5% | 0.536 |
| Spencer County, IN | 19,953 | $74,653 | 4.1%/yr | 3.3% | 0.489 |
| Daviess County, KY | 103,589 | $67,826 | 4.7%/yr | 4.4% | 0.530 |
| Breckinridge County, KY | 20,880 | $55,056 | 2.9%/yr | 4.5% | 0.569 |
| Ohio County, KY | 23,735 | $57,842 | 4.9%/yr | 5.0% | 0.529 |
Conclusion
Considering all these factors, Hancock County, Kentucky has an overall wealth index grade of C, making it somewhat better than Kentucky, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Hancock County, Kentucky.
How Rich Is Hancock County, Kentucky?
Hancock 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 $64,984, about 1% higher than the Kentucky average of $64,312.
How fast is household income rising in Hancock County, Kentucky?
Between 2009 and 2024, the median household income in Hancock County, Kentucky rose 45%, from $44,908 to $64,984. Over the same years, income here lagged behind Kentucky as a whole: +45% against +56%.
What was the median household income in Hancock County in 2023?
In 2023, the median household income in Hancock County, Kentucky was $68,922, down 1% from $69,639 in 2022. The Kentucky median that year was $62,783.
What was the median household income in Hancock County in 2020?
In 2020, the median household income in Hancock County, Kentucky was $57,229. By 2024 it had risen 14% to $64,984.
What is the Gini coefficient in Hancock County, Kentucky?
The Gini coefficient in Hancock County is 0.537. 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 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Hancock County, Kentucky?
Since 2009, the income gap between men and women in Hancock County, Kentucky has narrowed from about 44% to 33% in 2024. Over that period the gap was widest at 45% in 2010, and was narrowest at 25% in 2021. In dollar terms, the gap has widened by $607 since 2009.
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