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 | Webster County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Household Income | $57,907 | $62,784 | $78,145 |
| Median Personal Income | $48,323 | $53,643 | $61,726 |
| Average income growth | 6.1% | 4.9% | 5.1% |
| Six-Figure Earners | 6.2% | 8.4% | 13.2% |
The median household income in Webster County is about 8% lower than in Kentucky. Income has been growing faster in Webster County (6.1%/yr) than in Kentucky (4.9%/yr).
About 6% of adults in Webster 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 Webster County, Kentucky grew by 58.4% from 2009 to 2023, reaching $57,907 in 2023. That's an average of about 6.1% per year.
Economic Inequality in Webster County | Gender Pay Gap | Gini Coefficient
| Metric | Webster County | Kentucky Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.564 | 0.554 | 0.570 |
| Male Median Income | $55,350 | $59,736 | $67,746 |
| Female Median Income | $38,165 | $47,402 | $54,793 |
| Gender Pay Gap | 31.0% | 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 Webster County, it is 0.564, higher than Kentucky's 0.554, so income is less 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 45% more than women's income in Webster County, Kentucky. Over a 35-year career, a 45% wage gap accumulates to roughly $601,475 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Webster County, Kentucky has narrowed from about 39% to 31% in 2023. In dollar terms, the gap has widened by $840 since 2009.
Employment
| Metric | Webster County | Kentucky Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.4% | 4.8% | 5.2% |
| Working from Home | 2.4% | 9.1% | 13.4% |
| Commute time (minutes) | 25 | 20 | 22 |
Approximately 308 people are unemployed in Webster County, Kentucky.
The average commute time in Webster County is 25 minutes, longer than the 20 minutes in Kentucky.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Webster County, Kentucky has fallen from 5.8% to 5.4% in 2023.
Conclusion
Considering all these factors, Webster County, Kentucky has an overall wealth index grade of D, making it somewhat worse than Kentucky, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Webster County, Kentucky.
How Rich Is Webster County, Kentucky?
Webster 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 $57,907, about 8% lower than the Kentucky average of $62,784.
What is the current median household income in Webster County, Kentucky?
As of 2023, the median household income in Webster County, Kentucky is $57,907.
What was the median household income in Webster County in 2023?
In 2023, the median household income in Webster County, Kentucky was $57,907.
What was the median household income in Webster County in 2020?
In 2020, the median household income in Webster County, Kentucky was $44,497.
What is the Gini coefficient in Webster County, Kentucky?
The Gini coefficient in Webster County is 0.564. 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 Webster County, Kentucky?
Since 2009, the income gap between men and women in Webster County, Kentucky has narrowed from about 39% to 31% in 2023. In dollar terms, the gap has widened by $840 since 2009.