Montgomery County, Kentucky Income Statistics
Montgomery 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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D
Montgomery County Well below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Montgomery County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Household Income | $56,855 | $64,312 | $80,455 |
| Median Personal Income | $46,273 | $52,849 | $60,758 |
| Average Yearly Income Growth | 4.7% | 4.6% | 4.8% |
| Six-Figure Earners | 4.5% | 8.9% | 13.9% |
| $200k+ Households | 3.3% | 7.2% | 13.2% |
The median household income in Montgomery County is about 12% lower than in Kentucky. Income has been growing faster in Montgomery County (4.7%/yr) than in Kentucky (4.6%/yr).
About 5% of adults in Montgomery 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 Montgomery County, Kentucky grew by 65.6% from 2009 to 2024, reaching $56,855 in 2024. That's an average of about 4.7% per year.
Income Inequality and the Gender Pay Gap in Montgomery County
| Metric | Montgomery County | Kentucky Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.525 | 0.547 | 0.552 |
| Male Median Income | $55,534 | $60,966 | $69,667 |
| Female Median Income | $43,318 | $49,119 | $56,850 |
| Gender Pay Gap | 22.0% | 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 Montgomery County, it is 0.525, 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 28% more than women's income in Montgomery County, Kentucky. Over a 35-year career, a 28% wage gap accumulates to roughly $427,560 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Montgomery County, Kentucky has narrowed from about 25% to 22% in 2024. Over that period the gap was widest at 26% in 2022, and was narrowest at 16% in 2018. In dollar terms, the gap has widened by $2,906 since 2009.
Employment
| Metric | Montgomery County | Kentucky Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.0% | 4.8% | 5.2% |
| Working from Home | 7.6% | 10.2% | 15.0% |
| Commute time (minutes) | 20 | 20 | 22 |
Approximately 527 people are unemployed in Montgomery County, Kentucky.
The average commute time in Montgomery County is 20 minutes, about the same as in Kentucky.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Montgomery County, Kentucky has fallen from 8.8% to 4.0% in 2024. Over that period the rate peaked at 13.1% in 2014.
Montgomery County, KY Wealth Compared With Nearby Counties
Montgomery County, KY is the 2nd largest of the 6 counties compared here, 28,394 residents against a local median of 12,851. Where Montgomery County, KY breaks from the counties next to it is unemployment, sitting 31% below the local median of 5.8% at 4.0%. That is the better end of the local range on this measure.
Income growth tells the same story from another angle: 4.7%/yr against a local median of 3.8%/yr, 22% above it. Every measure here with a clear better direction points the same way, so Montgomery County, KY is not trading one advantage for another, it reads stronger than its neighbours across the board. The counties themselves spread 5.4% on unemployment, so Montgomery County, KY sits at one end of an already wide local range rather than apart from it. Montgomery County, KY has the 2nd lowest unemployment 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. |
|---|---|---|---|---|---|
| Montgomery County, KY | 28,394 | $56,855 #3/6 | 4.7%/yr #3/6 | 4.0% #2/6 | 0.525 #1/6 |
| Bath County, KY | 12,851 | $55,179 | 5.9%/yr | 2.5% | 0.540 |
| Powell County, KY | 13,038 | $40,249 | 2.3%/yr | 5.8% | 0.543 |
| Clark County, KY | 37,190 | $66,114 | 3.8%/yr | 4.4% | 0.533 |
| Nicholas County, KY | 7,708 | $59,796 | 6.4%/yr | 6.1% | 0.545 |
| Menifee County, KY | 6,230 | $45,192 | 3.3%/yr | 7.9% | 0.531 |
Conclusion
Considering all these factors, Montgomery County, Kentucky has an overall wealth index grade of D, making it about on par with Kentucky, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Montgomery County, Kentucky.
How Rich Is Montgomery County, Kentucky?
Montgomery 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 $56,855, about 12% lower than the Kentucky average of $64,312.
Are incomes growing in Montgomery County, Kentucky?
Between 2009 and 2024, the median household income in Montgomery County, Kentucky rose 66%, from $34,333 to $56,855. Over the same years, income here outpaced Kentucky as a whole: +66% against +56%.
What was the median household income in Montgomery County in 2023?
In 2023, the median household income in Montgomery County, Kentucky was $58,253, up 7% from $54,457 in 2022. The Kentucky median that year was $62,783.
What was the median household income in Montgomery County in 2020?
In 2020, the median household income in Montgomery County, Kentucky was $47,359. By 2024 it had risen 20% to $56,855.
What is the Gini coefficient in Montgomery County, Kentucky?
The Gini coefficient in Montgomery County is 0.525. 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 Montgomery County, Kentucky?
Since 2009, the income gap between men and women in Montgomery County, Kentucky has narrowed from about 25% to 22% in 2024. Over that period the gap was widest at 26% in 2022, and was narrowest at 16% in 2018. In dollar terms, the gap has widened by $2,906 since 2009.
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