Wealth Index
Less wealthy than 87% of counties in Minnesota
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 | Nobles County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Household Income | $67,268 | $88,383 | $78,145 |
| Median Personal Income | $50,447 | $67,709 | $61,726 |
| Average income growth | 3.3% | 4.8% | 5.1% |
| Six-Figure Earners | 6.1% | 14.5% | 13.2% |
The median household income in Nobles County is about 24% lower than in Minnesota. Income has been growing slower in Nobles County (3.3%/yr) than in Minnesota (4.8%/yr).
About 6% of adults in Nobles County earn six figures ($100,000 or more) a year, lower than the Minnesota average of 14%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Nobles County, Minnesota grew by 59.8% from 2009 to 2023, reaching $67,268 in 2023. That's an average of about 3.3% per year.
Economic Inequality in Nobles County | Gender Pay Gap | Gini Coefficient
| Metric | Nobles County | Minnesota Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.478 | 0.520 | 0.570 |
| Male Median Income | $53,879 | $73,285 | $67,746 |
| Female Median Income | $47,513 | $61,000 | $54,793 |
| Gender Pay Gap | 11.8% | 16.8% | 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 Nobles County, it is 0.478, lower than Minnesota's 0.520, 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 13% more than women's income in Nobles County, Minnesota. Over a 35-year career, a 13% wage gap accumulates to roughly $222,810 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Nobles County, Minnesota has narrowed from about 32% to 12% in 2023. In dollar terms, the gap has narrowed by $5,695 since 2009.
Employment
| Metric | Nobles County | Minnesota Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.6% | 3.9% | 5.2% |
| Working from Home | 6.0% | 15.9% | 13.4% |
| Commute time (minutes) | 12 | 20 | 22 |
Approximately 275 people are unemployed in Nobles County, Minnesota.
The average commute time in Nobles County is 12 minutes, shorter than the 20 minutes in Minnesota.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Nobles County, Minnesota has fallen from 4.6% to 2.6% in 2023.
Conclusion
Considering all these factors, Nobles County, Minnesota has an overall wealth index grade of C, making it somewhat worse than Minnesota, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Nobles County, Minnesota.
How Rich Is Nobles County, Minnesota?
Nobles 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 $67,268, about 24% lower than the Minnesota average of $88,383.
What is the current median household income in Nobles County, Minnesota?
As of 2023, the median household income in Nobles County, Minnesota is $67,268.
What was the median household income in Nobles County in 2023?
In 2023, the median household income in Nobles County, Minnesota was $67,268.
What was the median household income in Nobles County in 2020?
In 2020, the median household income in Nobles County, Minnesota was $56,040.
What is the Gini coefficient in Nobles County, Minnesota?
The Gini coefficient in Nobles County is 0.478. 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 Nobles County, Minnesota?
Since 2009, the income gap between men and women in Nobles County, Minnesota has narrowed from about 32% to 12% in 2023. In dollar terms, the gap has narrowed by $5,695 since 2009.