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 | Madison County | Missouri Avg | US Average |
|---|---|---|---|
| Median Household Income | $58,179 | $69,051 | $78,145 |
| Median Personal Income | $43,253 | $56,130 | $61,726 |
| Average income growth | 7.1% | 4.8% | 5.1% |
| Six-Figure Earners | 5.0% | 9.9% | 13.2% |
The median household income in Madison County is about 16% lower than in Missouri. Income has been growing faster in Madison County (7.1%/yr) than in Missouri (4.8%/yr).
About 5% of adults in Madison 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 Madison County, Missouri grew by 75.1% from 2009 to 2023, reaching $58,179 in 2023. That's an average of about 7.1% per year.
Economic Inequality in Madison County | Gender Pay Gap | Gini Coefficient
| Metric | Madison County | Missouri Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.524 | 0.543 | 0.570 |
| Male Median Income | $43,014 | $62,759 | $67,746 |
| Female Median Income | $43,519 | $49,461 | $54,793 |
| Gender Pay Gap | -1.2% | 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 Madison County, it is 0.524, 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.
Women's income is about 1% more than men's income in Madison County, Missouri. Over a 35-year career, a 1% wage gap accumulates to roughly $17,675 in unearned income for male workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Madison County, Missouri has narrowed from about 37% to -1% in 2023. In dollar terms, the gap has narrowed by $13,433 since 2009.
Employment
| Metric | Madison County | Missouri Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.8% | 4.1% | 5.2% |
| Working from Home | 9.1% | 11.6% | 13.4% |
| Commute time (minutes) | 18 | 21 | 22 |
Approximately 400 people are unemployed in Madison County, Missouri.
The average commute time in Madison County is 18 minutes, shorter than the 21 minutes in Missouri.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Madison County, Missouri has fallen from 11.4% to 6.8% in 2023.
Conclusion
Considering all these factors, Madison County, Missouri has an overall wealth index grade of D, making it somewhat worse than Missouri, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Madison County, Missouri.
How Rich Is Madison County, Missouri?
Madison 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 $58,179, about 16% lower than the Missouri average of $69,051.
What is the current median household income in Madison County, Missouri?
As of 2023, the median household income in Madison County, Missouri is $58,179.
What was the median household income in Madison County in 2023?
In 2023, the median household income in Madison County, Missouri was $58,179.
What was the median household income in Madison County in 2020?
In 2020, the median household income in Madison County, Missouri was $47,471.
What is the Gini coefficient in Madison County, Missouri?
The Gini coefficient in Madison County is 0.524. 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 Madison County, Missouri?
Since 2009, the income gap between men and women in Madison County, Missouri has narrowed from about 37% to -1% in 2023. In dollar terms, the gap has narrowed by $13,433 since 2009.