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 | Buchanan County | Missouri Avg | US Average |
|---|---|---|---|
| Median Household Income | $59,466 | $69,051 | $78,145 |
| Median Personal Income | $50,050 | $56,130 | $61,726 |
| Average income growth | 3.6% | 4.8% | 5.1% |
| Six-Figure Earners | 6.4% | 9.9% | 13.2% |
The median household income in Buchanan County is about 14% lower than in Missouri. Income has been growing slower in Buchanan County (3.6%/yr) than in Missouri (4.8%/yr).
About 6% of adults in Buchanan County earn six figures ($100,000 or more) a year, lower than the Missouri average of 10%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Buchanan County, Missouri grew by 43.2% from 2009 to 2023, reaching $59,466 in 2023. That's an average of about 3.6% per year.
Economic Inequality in Buchanan County | Gender Pay Gap | Gini Coefficient
| Metric | Buchanan County | Missouri Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.523 | 0.543 | 0.570 |
| Male Median Income | $51,989 | $62,759 | $67,746 |
| Female Median Income | $47,889 | $49,461 | $54,793 |
| Gender Pay Gap | 7.9% | 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 Buchanan County, it is 0.523, lower than Missouri's 0.543, 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 9% more than women's income in Buchanan County, Missouri. Over a 35-year career, a 9% wage gap accumulates to roughly $143,500 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Buchanan County, Missouri has narrowed from about 25% to 8% in 2023. In dollar terms, the gap has narrowed by $5,779 since 2009.
Employment
| Metric | Buchanan County | Missouri Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.4% | 4.1% | 5.2% |
| Working from Home | 6.9% | 11.6% | 13.4% |
| Commute time (minutes) | 13 | 21 | 22 |
Approximately 1,802 people are unemployed in Buchanan County, Missouri.
The average commute time in Buchanan County is 13 minutes, shorter than the 21 minutes in Missouri.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Buchanan County, Missouri has fallen from 7.3% to 4.4% in 2023.
Conclusion
Considering all these factors, Buchanan County, Missouri has an overall wealth index grade of D, making it about on par with Missouri, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Buchanan County, Missouri.
How Rich Is Buchanan County, Missouri?
Buchanan County has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $59,466, about 14% lower than the Missouri average of $69,051.
What is the current median household income in Buchanan County, Missouri?
As of 2023, the median household income in Buchanan County, Missouri is $59,466.
What was the median household income in Buchanan County in 2023?
In 2023, the median household income in Buchanan County, Missouri was $59,466.
What was the median household income in Buchanan County in 2020?
In 2020, the median household income in Buchanan County, Missouri was $51,623.
What is the Gini coefficient in Buchanan County, Missouri?
The Gini coefficient in Buchanan County is 0.523. 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 Buchanan County, Missouri?
Since 2009, the income gap between men and women in Buchanan County, Missouri has narrowed from about 25% to 8% in 2023. In dollar terms, the gap has narrowed by $5,779 since 2009.