Wealth Index
Wealthier than 83% 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 | Wabasha County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Household Income | $79,476 | $88,383 | $78,145 |
| Median Personal Income | $60,866 | $67,709 | $61,726 |
| Average income growth | 4.3% | 4.8% | 5.1% |
| Six-Figure Earners | 9.8% | 14.5% | 13.2% |
The median household income in Wabasha County is about 10% lower than in Minnesota. Income has been growing slower in Wabasha County (4.3%/yr) than in Minnesota (4.8%/yr).
About 10% of adults in Wabasha 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 Wabasha County, Minnesota grew by 55.1% from 2009 to 2023, reaching $79,476 in 2023. That's an average of about 4.3% per year.
Economic Inequality in Wabasha County | Gender Pay Gap | Gini Coefficient
| Metric | Wabasha County | Minnesota Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.478 | 0.520 | 0.570 |
| Male Median Income | $67,001 | $73,285 | $67,746 |
| Female Median Income | $53,651 | $61,000 | $54,793 |
| Gender Pay Gap | 19.9% | 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 Wabasha 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 25% more than women's income in Wabasha County, Minnesota. Over a 35-year career, a 25% wage gap accumulates to roughly $467,250 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Wabasha County, Minnesota has widened from about 17% to 20% in 2023. In dollar terms, the gap has widened by $6,238 since 2009.
Employment
| Metric | Wabasha County | Minnesota Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.2% | 3.9% | 5.2% |
| Working from Home | 10.5% | 15.9% | 13.4% |
| Commute time (minutes) | 23 | 20 | 22 |
Approximately 256 people are unemployed in Wabasha County, Minnesota.
The average commute time in Wabasha County is 23 minutes, longer than the 20 minutes in Minnesota.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Wabasha County, Minnesota has fallen from 4.6% to 2.2% in 2023.
Conclusion
Considering all these factors, Wabasha County, Minnesota has an overall wealth index grade of B, making it about on par with Minnesota, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Wabasha County, Minnesota.
How Rich Is Wabasha County, Minnesota?
Wabasha 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 $79,476, about 10% lower than the Minnesota average of $88,383.
What is the current median household income in Wabasha County, Minnesota?
As of 2023, the median household income in Wabasha County, Minnesota is $79,476.
What was the median household income in Wabasha County in 2023?
In 2023, the median household income in Wabasha County, Minnesota was $79,476.
What was the median household income in Wabasha County in 2020?
In 2020, the median household income in Wabasha County, Minnesota was $66,850.
What is the Gini coefficient in Wabasha County, Minnesota?
The Gini coefficient in Wabasha 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 Wabasha County, Minnesota?
Since 2009, the income gap between men and women in Wabasha County, Minnesota has widened from about 17% to 20% in 2023. In dollar terms, the gap has widened by $6,238 since 2009.