Wealth Index
Wealthier than 91% 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 | Ray County | Missouri Avg | US Average |
|---|---|---|---|
| Median Household Income | $73,263 | $69,051 | $78,145 |
| Median Personal Income | $58,203 | $56,130 | $61,726 |
| Average income growth | 4.5% | 4.8% | 5.1% |
| Six-Figure Earners | 8.7% | 9.9% | 13.2% |
The median household income in Ray County is about 6% higher than in Missouri. Income has been growing slower in Ray County (4.5%/yr) than in Missouri (4.8%/yr).
About 9% of adults in Ray 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 Ray County, Missouri grew by 42.2% from 2009 to 2023, reaching $73,263 in 2023. That's an average of about 4.5% per year.
Economic Inequality in Ray County | Gender Pay Gap | Gini Coefficient
| Metric | Ray County | Missouri Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.512 | 0.543 | 0.570 |
| Male Median Income | $71,763 | $62,759 | $67,746 |
| Female Median Income | $47,163 | $49,461 | $54,793 |
| Gender Pay Gap | 34.3% | 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 Ray County, it is 0.512, 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 52% more than women's income in Ray County, Missouri. Over a 35-year career, a 52% wage gap accumulates to roughly $861,000 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Ray County, Missouri has widened from about 33% to 34% in 2023. In dollar terms, the gap has widened by $9,374 since 2009.
Employment
| Metric | Ray County | Missouri Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.1% | 4.1% | 5.2% |
| Working from Home | 10.3% | 11.6% | 13.4% |
| Commute time (minutes) | 30 | 21 | 22 |
Approximately 237 people are unemployed in Ray County, Missouri.
The average commute time in Ray County is 30 minutes, longer than the 21 minutes in Missouri.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Ray County, Missouri has fallen from 7.1% to 2.1% in 2023.
Conclusion
Considering all these factors, Ray County, Missouri has an overall wealth index grade of B, making it somewhat better than Missouri, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Ray County, Missouri.
How Rich Is Ray County, Missouri?
Ray County has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $73,263, about 6% higher than the Missouri average of $69,051.
What is the current median household income in Ray County, Missouri?
As of 2023, the median household income in Ray County, Missouri is $73,263.
What was the median household income in Ray County in 2023?
In 2023, the median household income in Ray County, Missouri was $73,263.
What was the median household income in Ray County in 2020?
In 2020, the median household income in Ray County, Missouri was $64,382.
What is the Gini coefficient in Ray County, Missouri?
The Gini coefficient in Ray County is 0.512. 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 Ray County, Missouri?
Since 2009, the income gap between men and women in Ray County, Missouri has widened from about 33% to 34% in 2023. In dollar terms, the gap has widened by $9,374 since 2009.