Wealth Index
Wealthier than 88% 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 | Marshall County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Household Income | $64,181 | $62,784 | $78,145 |
| Median Personal Income | $49,728 | $53,643 | $61,726 |
| Average income growth | 5.0% | 4.9% | 5.1% |
| Six-Figure Earners | 7.9% | 8.4% | 13.2% |
The median household income in Marshall County is about 2% higher than in Kentucky. Income has been growing faster in Marshall County (5.0%/yr) than in Kentucky (4.9%/yr).
About 8% of adults in Marshall 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 Marshall County, Kentucky grew by 52.7% from 2009 to 2023, reaching $64,181 in 2023. That's an average of about 5.0% per year.
Economic Inequality in Marshall County | Gender Pay Gap | Gini Coefficient
| Metric | Marshall County | Kentucky Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.531 | 0.554 | 0.570 |
| Male Median Income | $57,698 | $59,736 | $67,746 |
| Female Median Income | $43,860 | $47,402 | $54,793 |
| Gender Pay Gap | 24.0% | 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 Marshall County, it is 0.531, 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 32% more than women's income in Marshall County, Kentucky. Over a 35-year career, a 32% wage gap accumulates to roughly $484,330 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Marshall County, Kentucky has narrowed from about 39% to 24% in 2023. In dollar terms, the gap has narrowed by $2,561 since 2009.
Employment
| Metric | Marshall County | Kentucky Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.7% | 4.8% | 5.2% |
| Working from Home | 6.5% | 9.1% | 13.4% |
| Commute time (minutes) | 20 | 20 | 22 |
Approximately 534 people are unemployed in Marshall County, Kentucky.
The average commute time in Marshall County is 20 minutes, about the same as in Kentucky.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Marshall County, Kentucky has fallen from 6.3% to 3.7% in 2023.
Conclusion
Considering all these factors, Marshall 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 Marshall County, Kentucky.
How Rich Is Marshall County, Kentucky?
Marshall 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 $64,181, about 2% higher than the Kentucky average of $62,784.
What is the current median household income in Marshall County, Kentucky?
As of 2023, the median household income in Marshall County, Kentucky is $64,181.
What was the median household income in Marshall County in 2023?
In 2023, the median household income in Marshall County, Kentucky was $64,181.
What was the median household income in Marshall County in 2020?
In 2020, the median household income in Marshall County, Kentucky was $58,117.
What is the Gini coefficient in Marshall County, Kentucky?
The Gini coefficient in Marshall County is 0.531. 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 Marshall County, Kentucky?
Since 2009, the income gap between men and women in Marshall County, Kentucky has narrowed from about 39% to 24% in 2023. In dollar terms, the gap has narrowed by $2,561 since 2009.