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 | Callaway County | Missouri Avg | US Average |
|---|---|---|---|
| Median Household Income | $70,828 | $69,051 | $78,145 |
| Median Personal Income | $52,672 | $56,130 | $61,726 |
| Average income growth | 5.0% | 4.8% | 5.1% |
| Six-Figure Earners | 6.4% | 9.9% | 13.2% |
The median household income in Callaway County is about 3% higher than in Missouri. Income has been growing faster in Callaway County (5.0%/yr) than in Missouri (4.8%/yr).
About 6% of adults in Callaway 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 Callaway County, Missouri grew by 43.4% from 2009 to 2023, reaching $70,828 in 2023. That's an average of about 5.0% per year.
Economic Inequality in Callaway County | Gender Pay Gap | Gini Coefficient
| Metric | Callaway County | Missouri Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.532 | 0.543 | 0.570 |
| Male Median Income | $56,522 | $62,759 | $67,746 |
| Female Median Income | $47,455 | $49,461 | $54,793 |
| Gender Pay Gap | 16.0% | 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 Callaway County, it is 0.532, 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 19% more than women's income in Callaway County, Missouri. Over a 35-year career, a 19% wage gap accumulates to roughly $317,345 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Callaway County, Missouri has narrowed from about 28% to 16% in 2023. In dollar terms, the gap has narrowed by $2,715 since 2009.
Employment
| Metric | Callaway County | Missouri Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.5% | 4.1% | 5.2% |
| Working from Home | 9.0% | 11.6% | 13.4% |
| Commute time (minutes) | 21 | 21 | 22 |
Approximately 1,177 people are unemployed in Callaway County, Missouri.
The average commute time in Callaway County is 21 minutes, about the same as in Missouri.
Unemployment Rate Over Time
The unemployment rate in Callaway County, Missouri has stayed about flat at 5.5% since 2011.
Conclusion
Considering all these factors, Callaway 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 Callaway County, Missouri.
How Rich Is Callaway County, Missouri?
Callaway 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 $70,828, about 3% higher than the Missouri average of $69,051.
What is the current median household income in Callaway County, Missouri?
As of 2023, the median household income in Callaway County, Missouri is $70,828.
What was the median household income in Callaway County in 2023?
In 2023, the median household income in Callaway County, Missouri was $70,828.
What was the median household income in Callaway County in 2020?
In 2020, the median household income in Callaway County, Missouri was $59,845.
What is the Gini coefficient in Callaway County, Missouri?
The Gini coefficient in Callaway County is 0.532. 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 Callaway County, Missouri?
Since 2009, the income gap between men and women in Callaway County, Missouri has narrowed from about 28% to 16% in 2023. In dollar terms, the gap has narrowed by $2,715 since 2009.