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 | Kennebec County | Maine Avg | US Average |
|---|---|---|---|
| Median Household Income | $65,065 | $72,025 | $78,145 |
| Median Personal Income | $56,509 | $59,309 | $61,726 |
| Average income growth | 4.3% | 5.1% | 5.1% |
| Six-Figure Earners | 8.1% | 10.3% | 13.2% |
The median household income in Kennebec County is about 10% lower than in Maine. Income has been growing slower in Kennebec County (4.3%/yr) than in Maine (5.1%/yr).
About 8% of adults in Kennebec County earn six figures ($100,000 or more) a year, lower than the Maine average of 10%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Kennebec County, Maine grew by 40.6% from 2009 to 2023, reaching $65,065 in 2023. That's an average of about 4.3% per year.
Economic Inequality in Kennebec County | Gender Pay Gap | Gini Coefficient
| Metric | Kennebec County | Maine Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.511 | 0.519 | 0.570 |
| Male Median Income | $61,249 | $64,651 | $67,746 |
| Female Median Income | $52,479 | $53,280 | $54,793 |
| Gender Pay Gap | 14.3% | 17.6% | 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 Kennebec County, it is 0.511, lower than Maine's 0.519, 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 17% more than women's income in Kennebec County, Maine. Over a 35-year career, a 17% wage gap accumulates to roughly $306,950 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Kennebec County, Maine has narrowed from about 24% to 14% in 2023. In dollar terms, the gap has narrowed by $1,591 since 2009.
Employment
| Metric | Kennebec County | Maine Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.0% | 3.9% | 5.2% |
| Working from Home | 13.8% | 14.1% | 13.4% |
| Commute time (minutes) | 20 | 20 | 22 |
Approximately 2,566 people are unemployed in Kennebec County, Maine.
The average commute time in Kennebec County is 20 minutes, about the same as in Maine.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Kennebec County, Maine has fallen from 7.8% to 4.0% in 2023.
Conclusion
Considering all these factors, Kennebec County, Maine has an overall wealth index grade of C, making it about on par with Maine, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Kennebec County, Maine.
How Rich Is Kennebec County, Maine?
Kennebec 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 $65,065, about 10% lower than the Maine average of $72,025.
What is the current median household income in Kennebec County, Maine?
As of 2023, the median household income in Kennebec County, Maine is $65,065.
What was the median household income in Kennebec County in 2023?
In 2023, the median household income in Kennebec County, Maine was $65,065.
What was the median household income in Kennebec County in 2020?
In 2020, the median household income in Kennebec County, Maine was $55,812.
What is the Gini coefficient in Kennebec County, Maine?
The Gini coefficient in Kennebec County is 0.511. 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 Kennebec County, Maine?
Since 2009, the income gap between men and women in Kennebec County, Maine has narrowed from about 24% to 14% in 2023. In dollar terms, the gap has narrowed by $1,591 since 2009.