Wealth Index
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 | Ohio County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Household Income | $53,874 | $62,784 | $78,145 |
| Median Personal Income | $47,986 | $53,643 | $61,726 |
| Average income growth | 4.6% | 4.9% | 5.1% |
| Six-Figure Earners | 3.8% | 8.4% | 13.2% |
The median household income in Ohio County is about 14% lower than in Kentucky. Income has been growing slower in Ohio County (4.6%/yr) than in Kentucky (4.9%/yr).
About 4% of adults in Ohio 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 Ohio County, Kentucky grew by 51.6% from 2009 to 2023, reaching $53,874 in 2023. That's an average of about 4.6% per year.
Economic Inequality in Ohio County | Gender Pay Gap | Gini Coefficient
| Metric | Ohio County | Kentucky Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.529 | 0.554 | 0.570 |
| Male Median Income | $55,503 | $59,736 | $67,746 |
| Female Median Income | $37,304 | $47,402 | $54,793 |
| Gender Pay Gap | 32.8% | 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 Ohio County, it is 0.529, 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 49% more than women's income in Ohio County, Kentucky. Over a 35-year career, a 49% wage gap accumulates to roughly $636,965 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Ohio County, Kentucky has widened from about 26% to 33% in 2023. In dollar terms, the gap has widened by $8,507 since 2009.
Employment
| Metric | Ohio County | Kentucky Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.2% | 4.8% | 5.2% |
| Working from Home | 4.6% | 9.1% | 13.4% |
| Commute time (minutes) | 28 | 20 | 22 |
Approximately 530 people are unemployed in Ohio County, Kentucky.
The average commute time in Ohio County is 28 minutes, longer than the 20 minutes in Kentucky.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Ohio County, Kentucky has fallen from 9.8% to 5.2% in 2023.
Conclusion
Considering all these factors, Ohio 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 Ohio County, Kentucky.
How Wealthy Is Ohio County, Kentucky?
Ohio 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 $53,874, about 14% lower than the Kentucky average of $62,784.
What is the current median household income in Ohio County, Kentucky?
As of 2023, the median household income in Ohio County, Kentucky is $53,874.
What was the median household income in Ohio County in 2023?
In 2023, the median household income in Ohio County, Kentucky was $53,874.
What was the median household income in Ohio County in 2020?
In 2020, the median household income in Ohio County, Kentucky was $46,051.
What is the Gini coefficient in Ohio County, Kentucky?
The Gini coefficient in Ohio County is 0.529. 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 Ohio County, Kentucky?
Since 2009, the income gap between men and women in Ohio County, Kentucky has widened from about 26% to 33% in 2023. In dollar terms, the gap has widened by $8,507 since 2009.