Wealth Index
Wealthier than 84% 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 | Lafayette County | Missouri Avg | US Average |
|---|---|---|---|
| Median Household Income | $79,339 | $69,051 | $78,145 |
| Median Personal Income | $52,351 | $56,130 | $61,726 |
| Average income growth | 6.5% | 4.8% | 5.1% |
| Six-Figure Earners | 7.6% | 9.9% | 13.2% |
The median household income in Lafayette County is about 15% higher than in Missouri. Income has been growing faster in Lafayette County (6.5%/yr) than in Missouri (4.8%/yr).
About 8% of adults in Lafayette 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 Lafayette County, Missouri grew by 66.7% from 2009 to 2023, reaching $79,339 in 2023. That's an average of about 6.5% per year.
Economic Inequality in Lafayette County | Gender Pay Gap | Gini Coefficient
| Metric | Lafayette County | Missouri Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.518 | 0.543 | 0.570 |
| Male Median Income | $62,491 | $62,759 | $67,746 |
| Female Median Income | $44,894 | $49,461 | $54,793 |
| Gender Pay Gap | 28.2% | 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 Lafayette County, it is 0.518, 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 39% more than women's income in Lafayette County, Missouri. Over a 35-year career, a 39% wage gap accumulates to roughly $615,895 in unearned income for female workers in the area.
Income by Sex Over Time
The income gap between men and women in Lafayette County, Missouri has stayed about the same since 2009, at around 28%. In dollar terms, the gap has widened by $5,252 since 2009.
Employment
| Metric | Lafayette County | Missouri Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.2% | 4.1% | 5.2% |
| Working from Home | 8.1% | 11.6% | 13.4% |
| Commute time (minutes) | 23 | 21 | 22 |
Approximately 360 people are unemployed in Lafayette County, Missouri.
The average commute time in Lafayette County is 23 minutes, longer than the 21 minutes in Missouri.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Lafayette County, Missouri has fallen from 4.7% to 2.2% in 2023.
Conclusion
Considering all these factors, Lafayette County, Missouri has an overall wealth index grade of C, making it somewhat better than Missouri, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Lafayette County, Missouri.
How Rich Is Lafayette County, Missouri?
Lafayette 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 $79,339, about 15% higher than the Missouri average of $69,051.
What is the current median household income in Lafayette County, Missouri?
As of 2023, the median household income in Lafayette County, Missouri is $79,339.
What was the median household income in Lafayette County in 2023?
In 2023, the median household income in Lafayette County, Missouri was $79,339.
What was the median household income in Lafayette County in 2020?
In 2020, the median household income in Lafayette County, Missouri was $63,121.
What is the Gini coefficient in Lafayette County, Missouri?
The Gini coefficient in Lafayette County is 0.518. 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 Lafayette County, Missouri?
The income gap between men and women in Lafayette County, Missouri has stayed about the same since 2009, at around 28%. In dollar terms, the gap has widened by $5,252 since 2009.