Wealth Index
Wealthier than 86% 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 | Hardin County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Household Income | $67,351 | $62,784 | $78,145 |
| Median Personal Income | $53,626 | $53,643 | $61,726 |
| Average income growth | 3.9% | 4.9% | 5.1% |
| Six-Figure Earners | 8.8% | 8.4% | 13.2% |
The median household income in Hardin County is about 7% higher than in Kentucky. Income has been growing slower in Hardin County (3.9%/yr) than in Kentucky (4.9%/yr).
About 9% of adults in Hardin 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 Hardin County, Kentucky grew by 46.0% from 2009 to 2023, reaching $67,351 in 2023. That's an average of about 3.9% per year.
Economic Inequality in Hardin County | Gender Pay Gap | Gini Coefficient
| Metric | Hardin County | Kentucky Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.534 | 0.554 | 0.570 |
| Male Median Income | $60,144 | $59,736 | $67,746 |
| Female Median Income | $48,522 | $47,402 | $54,793 |
| Gender Pay Gap | 19.3% | 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 Hardin County, it is 0.534, 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 24% more than women's income in Hardin County, Kentucky. Over a 35-year career, a 24% wage gap accumulates to roughly $406,770 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Hardin County, Kentucky has narrowed from about 29% to 19% in 2023. In dollar terms, the gap has narrowed by $314 since 2009.
Employment
| Metric | Hardin County | Kentucky Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.2% | 4.8% | 5.2% |
| Working from Home | 7.8% | 9.1% | 13.4% |
| Commute time (minutes) | 18 | 20 | 22 |
Approximately 3,420 people are unemployed in Hardin County, Kentucky.
The average commute time in Hardin County is 18 minutes, shorter than the 20 minutes in Kentucky.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Hardin County, Kentucky has fallen from 7.3% to 6.2% in 2023.
Conclusion
Considering all these factors, Hardin 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 Hardin County, Kentucky.
How Rich Is Hardin County, Kentucky?
Hardin 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 $67,351, about 7% higher than the Kentucky average of $62,784.
What is the current median household income in Hardin County, Kentucky?
As of 2023, the median household income in Hardin County, Kentucky is $67,351.
What was the median household income in Hardin County in 2023?
In 2023, the median household income in Hardin County, Kentucky was $67,351.
What was the median household income in Hardin County in 2020?
In 2020, the median household income in Hardin County, Kentucky was $57,447.
What is the Gini coefficient in Hardin County, Kentucky?
The Gini coefficient in Hardin County is 0.534. 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 Hardin County, Kentucky?
Since 2009, the income gap between men and women in Hardin County, Kentucky has narrowed from about 29% to 19% in 2023. In dollar terms, the gap has narrowed by $314 since 2009.