Wealth Index
Wealthier than 70% 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 | Larue County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Household Income | $66,008 | $62,784 | $78,145 |
| Median Personal Income | $53,543 | $53,643 | $61,726 |
| Average income growth | 7.1% | 4.9% | 5.1% |
| Six-Figure Earners | 5.8% | 8.4% | 13.2% |
The median household income in Larue County is about 5% higher than in Kentucky. Income has been growing faster in Larue County (7.1%/yr) than in Kentucky (4.9%/yr).
About 6% of adults in Larue 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 Larue County, Kentucky grew by 70.0% from 2009 to 2023, reaching $66,008 in 2023. That's an average of about 7.1% per year.
Economic Inequality in Larue County | Gender Pay Gap | Gini Coefficient
| Metric | Larue County | Kentucky Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.514 | 0.554 | 0.570 |
| Male Median Income | $54,210 | $59,736 | $67,746 |
| Female Median Income | $52,974 | $47,402 | $54,793 |
| Gender Pay Gap | 2.3% | 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 Larue County, it is 0.514, 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 2% more than women's income in Larue County, Kentucky. Over a 35-year career, a 2% wage gap accumulates to roughly $43,260 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Larue County, Kentucky has narrowed from about 28% to 2% in 2023. In dollar terms, the gap has narrowed by $8,567 since 2009.
Employment
| Metric | Larue County | Kentucky Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 1.8% | 4.8% | 5.2% |
| Working from Home | 7.6% | 9.1% | 13.4% |
| Commute time (minutes) | 27 | 20 | 22 |
Approximately 122 people are unemployed in Larue County, Kentucky.
The average commute time in Larue County is 27 minutes, longer than the 20 minutes in Kentucky.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Larue County, Kentucky has fallen from 8.1% to 1.8% in 2023.
Conclusion
Considering all these factors, Larue County, Kentucky has an overall wealth index grade of C, making it about on par with Kentucky, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Larue County, Kentucky.
How Rich Is Larue County, Kentucky?
Larue 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 $66,008, about 5% higher than the Kentucky average of $62,784.
What is the current median household income in Larue County, Kentucky?
As of 2023, the median household income in Larue County, Kentucky is $66,008.
What was the median household income in Larue County in 2023?
In 2023, the median household income in Larue County, Kentucky was $66,008.
What was the median household income in Larue County in 2020?
In 2020, the median household income in Larue County, Kentucky was $48,976.
What is the Gini coefficient in Larue County, Kentucky?
The Gini coefficient in Larue County is 0.514. 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 Larue County, Kentucky?
Since 2009, the income gap between men and women in Larue County, Kentucky has narrowed from about 28% to 2% in 2023. In dollar terms, the gap has narrowed by $8,567 since 2009.