Wealth Index
Wealthier than 81% of counties in Missouri
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 | Boone County | Missouri Avg | US Average |
|---|---|---|---|
| Median Household Income | $69,964 | $69,051 | $78,145 |
| Median Personal Income | $57,305 | $56,130 | $61,726 |
| Average income growth | 4.6% | 4.8% | 5.1% |
| Six-Figure Earners | 10.3% | 9.9% | 13.2% |
The median household income in Boone County is about 1% higher than in Missouri. Income has been growing slower in Boone County (4.6%/yr) than in Missouri (4.8%/yr).
About 10% of adults in Boone County earn six figures ($100,000 or more) a year, about the same as the Missouri average of 10%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Boone County, Missouri grew by 56.3% from 2009 to 2023, reaching $69,964 in 2023. That's an average of about 4.6% per year.
Economic Inequality in Boone County | Gender Pay Gap | Gini Coefficient
| Metric | Boone County | Missouri Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.563 | 0.543 | 0.570 |
| Male Median Income | $62,264 | $62,759 | $67,746 |
| Female Median Income | $52,024 | $49,461 | $54,793 |
| Gender Pay Gap | 16.4% | 21.2% | 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 Boone County, it is 0.563, higher than Missouri's 0.543, 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 20% more than women's income in Boone County, Missouri. Over a 35-year career, a 20% wage gap accumulates to roughly $358,400 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Boone County, Missouri has narrowed from about 17% to 16% in 2023. In dollar terms, the gap has widened by $3,004 since 2009.
Employment
| Metric | Boone County | Missouri Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.7% | 4.1% | 5.2% |
| Working from Home | 9.2% | 11.6% | 13.4% |
| Commute time (minutes) | 16 | 21 | 22 |
Approximately 3,763 people are unemployed in Boone County, Missouri.
The average commute time in Boone County is 16 minutes, shorter than the 21 minutes in Missouri.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Boone County, Missouri has fallen from 6.0% to 3.7% in 2023.
Conclusion
Considering all these factors, Boone County, Missouri has an overall wealth index grade of C, making it about on par with Missouri, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Boone County, Missouri.
How Rich Is Boone County, Missouri?
Boone 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 $69,964, about 1% higher than the Missouri average of $69,051.
What is the current median household income in Boone County, Missouri?
As of 2023, the median household income in Boone County, Missouri is $69,964.
What was the median household income in Boone County in 2023?
In 2023, the median household income in Boone County, Missouri was $69,964.
What was the median household income in Boone County in 2020?
In 2020, the median household income in Boone County, Missouri was $58,756.
What is the Gini coefficient in Boone County, Missouri?
The Gini coefficient in Boone County is 0.563. 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 Boone County, Missouri?
Since 2009, the income gap between men and women in Boone County, Missouri has narrowed from about 17% to 16% in 2023. In dollar terms, the gap has widened by $3,004 since 2009.