Wealth Index
Wealthier than 75% 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 | Pendleton County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Household Income | $65,527 | $62,784 | $78,145 |
| Median Personal Income | $50,854 | $53,643 | $61,726 |
| Average income growth | 4.1% | 4.9% | 5.1% |
| Six-Figure Earners | 4.7% | 8.4% | 13.2% |
The median household income in Pendleton County is about 4% higher than in Kentucky. Income has been growing slower in Pendleton County (4.1%/yr) than in Kentucky (4.9%/yr).
About 5% of adults in Pendleton 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 Pendleton County, Kentucky grew by 48.2% from 2009 to 2023, reaching $65,527 in 2023. That's an average of about 4.1% per year.
Economic Inequality in Pendleton County | Gender Pay Gap | Gini Coefficient
| Metric | Pendleton County | Kentucky Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.540 | 0.554 | 0.570 |
| Male Median Income | $55,529 | $59,736 | $67,746 |
| Female Median Income | $46,249 | $47,402 | $54,793 |
| Gender Pay Gap | 16.7% | 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 Pendleton County, it is 0.540, 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 20% more than women's income in Pendleton County, Kentucky. Over a 35-year career, a 20% wage gap accumulates to roughly $324,800 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Pendleton County, Kentucky has narrowed from about 22% to 17% in 2023. In dollar terms, the gap has narrowed by $35 since 2009.
Employment
| Metric | Pendleton County | Kentucky Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.9% | 4.8% | 5.2% |
| Working from Home | 7.5% | 9.1% | 13.4% |
| Commute time (minutes) | 33 | 20 | 22 |
Approximately 345 people are unemployed in Pendleton County, Kentucky.
The average commute time in Pendleton County is 33 minutes, longer than the 20 minutes in Kentucky.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Pendleton County, Kentucky has fallen from 9.0% to 4.9% in 2023.
Conclusion
Considering all these factors, Pendleton 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 Pendleton County, Kentucky.
How Rich Is Pendleton County, Kentucky?
Pendleton 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 $65,527, about 4% higher than the Kentucky average of $62,784.
What is the current median household income in Pendleton County, Kentucky?
As of 2023, the median household income in Pendleton County, Kentucky is $65,527.
What was the median household income in Pendleton County in 2023?
In 2023, the median household income in Pendleton County, Kentucky was $65,527.
What was the median household income in Pendleton County in 2020?
In 2020, the median household income in Pendleton County, Kentucky was $54,870.
What is the Gini coefficient in Pendleton County, Kentucky?
The Gini coefficient in Pendleton County is 0.540. 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 Pendleton County, Kentucky?
Since 2009, the income gap between men and women in Pendleton County, Kentucky has narrowed from about 22% to 17% in 2023. In dollar terms, the gap has narrowed by $35 since 2009.