Wealth Index
Wealthiest county 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 | Oldham County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Household Income | $120,293 | $62,784 | $78,145 |
| Median Personal Income | $78,905 | $53,643 | $61,726 |
| Average income growth | 4.8% | 4.9% | 5.1% |
| Six-Figure Earners | 19.6% | 8.4% | 13.2% |
The median household income in Oldham County is about 92% higher than in Kentucky. Income has been growing slower in Oldham County (4.8%/yr) than in Kentucky (4.9%/yr).
About 20% of adults in Oldham County earn six figures ($100,000 or more) a year, higher than the Kentucky average of 8%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Oldham County, Kentucky grew by 52.1% from 2009 to 2023, reaching $120,293 in 2023. That's an average of about 4.8% per year.
Economic Inequality in Oldham County | Gender Pay Gap | Gini Coefficient
| Metric | Oldham County | Kentucky Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.583 | 0.554 | 0.570 |
| Male Median Income | $91,061 | $59,736 | $67,746 |
| Female Median Income | $65,854 | $47,402 | $54,793 |
| Gender Pay Gap | 27.7% | 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 Oldham County, it is 0.583, higher than Kentucky's 0.554, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 38% more than women's income in Oldham County, Kentucky. Over a 35-year career, a 38% wage gap accumulates to roughly $882,245 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Oldham County, Kentucky has narrowed from about 37% to 28% in 2023. In dollar terms, the gap has widened by $503 since 2009.
Employment
| Metric | Oldham County | Kentucky Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.3% | 4.8% | 5.2% |
| Working from Home | 15.9% | 9.1% | 13.4% |
| Commute time (minutes) | 26 | 20 | 22 |
Approximately 1,153 people are unemployed in Oldham County, Kentucky.
The average commute time in Oldham County is 26 minutes, longer than the 20 minutes in Kentucky.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Oldham County, Kentucky has fallen from 6.1% to 3.3% in 2023.
Conclusion
Considering all these factors, Oldham County, Kentucky has an overall wealth index grade of B, making it notably better than Kentucky, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Oldham County, Kentucky.
How Wealthy Is Oldham County, Kentucky?
Oldham County has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $120,293, about 92% higher than the Kentucky average of $62,784.
What is the current median household income in Oldham County, Kentucky?
As of 2023, the median household income in Oldham County, Kentucky is $120,293.
What was the median household income in Oldham County in 2023?
In 2023, the median household income in Oldham County, Kentucky was $120,293.
What was the median household income in Oldham County in 2020?
In 2020, the median household income in Oldham County, Kentucky was $103,387.
What is the Gini coefficient in Oldham County, Kentucky?
The Gini coefficient in Oldham County is 0.583. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Oldham County, Kentucky?
Since 2009, the income gap between men and women in Oldham County, Kentucky has narrowed from about 37% to 28% in 2023. In dollar terms, the gap has widened by $503 since 2009.