Wealth Index
Less wealthy 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 | Nodaway County | Missouri Avg | US Average |
|---|---|---|---|
| Median Household Income | $55,946 | $69,051 | $78,145 |
| Median Personal Income | $50,435 | $56,130 | $61,726 |
| Average income growth | 5.0% | 4.8% | 5.1% |
| Six-Figure Earners | 5.2% | 9.9% | 13.2% |
The median household income in Nodaway County is about 19% lower than in Missouri. Income has been growing faster in Nodaway County (5.0%/yr) than in Missouri (4.8%/yr).
About 5% of adults in Nodaway 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 Nodaway County, Missouri grew by 54.0% from 2009 to 2023, reaching $55,946 in 2023. That's an average of about 5.0% per year.
Economic Inequality in Nodaway County | Gender Pay Gap | Gini Coefficient
| Metric | Nodaway County | Missouri Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.579 | 0.543 | 0.570 |
| Male Median Income | $54,703 | $62,759 | $67,746 |
| Female Median Income | $46,409 | $49,461 | $54,793 |
| Gender Pay Gap | 15.2% | 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 Nodaway County, it is 0.579, higher than Missouri's 0.543, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 18% more than women's income in Nodaway County, Missouri. Over a 35-year career, a 18% wage gap accumulates to roughly $290,290 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Nodaway County, Missouri has narrowed from about 23% to 15% in 2023. In dollar terms, the gap has widened by $335 since 2009.
Employment
| Metric | Nodaway County | Missouri Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.9% | 4.1% | 5.2% |
| Working from Home | 5.5% | 11.6% | 13.4% |
| Commute time (minutes) | 11 | 21 | 22 |
Approximately 301 people are unemployed in Nodaway County, Missouri.
The average commute time in Nodaway County is 11 minutes, shorter than the 21 minutes in Missouri.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Nodaway County, Missouri has fallen from 6.0% to 2.9% in 2023.
Conclusion
Considering all these factors, Nodaway 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 Nodaway County, Missouri.
How Rich Is Nodaway County, Missouri?
Nodaway 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 $55,946, about 19% lower than the Missouri average of $69,051.
What is the current median household income in Nodaway County, Missouri?
As of 2023, the median household income in Nodaway County, Missouri is $55,946.
What was the median household income in Nodaway County in 2023?
In 2023, the median household income in Nodaway County, Missouri was $55,946.
What was the median household income in Nodaway County in 2020?
In 2020, the median household income in Nodaway County, Missouri was $46,872.
What is the Gini coefficient in Nodaway County, Missouri?
The Gini coefficient in Nodaway County is 0.579. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Nodaway County, Missouri?
Since 2009, the income gap between men and women in Nodaway County, Missouri has narrowed from about 23% to 15% in 2023. In dollar terms, the gap has widened by $335 since 2009.