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 | Kent County | Maryland Avg | US Average |
|---|---|---|---|
| Median Household Income | $74,497 | $101,971 | $78,145 |
| Median Personal Income | $62,575 | $75,680 | $61,726 |
| Average income growth | 4.2% | 4.3% | 5.1% |
| Six-Figure Earners | 12.1% | 19.8% | 13.2% |
The median household income in Kent County is about 27% lower than in Maryland. Income has been growing slower in Kent County (4.2%/yr) than in Maryland (4.3%/yr).
About 12% of adults in Kent County earn six figures ($100,000 or more) a year, lower than the Maryland average of 20%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Kent County, Maryland grew by 54.9% from 2009 to 2023, reaching $74,497 in 2023. That's an average of about 4.2% per year.
Economic Inequality in Kent County | Gender Pay Gap | Gini Coefficient
| Metric | Kent County | Maryland Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.573 | 0.553 | 0.570 |
| Male Median Income | $65,162 | $81,929 | $67,746 |
| Female Median Income | $56,504 | $70,143 | $54,793 |
| Gender Pay Gap | 13.3% | 14.4% | 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 Kent County, it is 0.573, higher than Maryland's 0.553, so income is less evenly distributed here than there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 15% more than women's income in Kent County, Maryland. Over a 35-year career, a 15% wage gap accumulates to roughly $303,030 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Kent County, Maryland has narrowed from about 22% to 13% in 2023. In dollar terms, the gap has narrowed by $905 since 2009.
Employment
| Metric | Kent County | Maryland Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.8% | 4.9% | 5.2% |
| Working from Home | 10.3% | 17.2% | 13.4% |
| Commute time (minutes) | 20 | 28 | 22 |
Approximately 274 people are unemployed in Kent County, Maryland.
The average commute time in Kent County is 20 minutes, shorter than the 28 minutes in Maryland.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Kent County, Maryland has fallen from 6.4% to 2.8% in 2023.
Conclusion
Considering all these factors, Kent County, Maryland has an overall wealth index grade of B, making it somewhat worse than Maryland, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Kent County, Maryland.
How Rich Is Kent County, Maryland?
Kent 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 $74,497, about 27% lower than the Maryland average of $101,971.
What is the current median household income in Kent County, Maryland?
As of 2023, the median household income in Kent County, Maryland is $74,497.
What was the median household income in Kent County in 2023?
In 2023, the median household income in Kent County, Maryland was $74,497.
What was the median household income in Kent County in 2020?
In 2020, the median household income in Kent County, Maryland was $60,239.
What is the Gini coefficient in Kent County, Maryland?
The Gini coefficient in Kent County is 0.573. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Kent County, Maryland?
Since 2009, the income gap between men and women in Kent County, Maryland has narrowed from about 22% to 13% in 2023. In dollar terms, the gap has narrowed by $905 since 2009.