Wealth Index
Wealthier than 79% 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 | Scotland County | Missouri Avg | US Average |
|---|---|---|---|
| Median Household Income | $67,703 | $69,051 | $78,145 |
| Median Personal Income | $48,008 | $56,130 | $61,726 |
| Average income growth | 7.7% | 4.8% | 5.1% |
| Six-Figure Earners | 7.3% | 9.9% | 13.2% |
The median household income in Scotland County is about 2% lower than in Missouri. Income has been growing faster in Scotland County (7.7%/yr) than in Missouri (4.8%/yr).
About 7% of adults in Scotland 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 Scotland County, Missouri grew by 90.1% from 2009 to 2023, reaching $67,703 in 2023. That's an average of about 7.7% per year.
Economic Inequality in Scotland County | Gender Pay Gap | Gini Coefficient
| Metric | Scotland County | Missouri Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.573 | 0.543 | 0.570 |
| Male Median Income | $56,436 | $62,759 | $67,746 |
| Female Median Income | $40,059 | $49,461 | $54,793 |
| Gender Pay Gap | 29.0% | 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 Scotland County, it is 0.573, higher than Missouri's 0.543, so income is less evenly distributed here than there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 41% more than women's income in Scotland County, Missouri. Over a 35-year career, a 41% wage gap accumulates to roughly $573,195 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Scotland County, Missouri has widened from about 2% to 29% in 2023. In dollar terms, the gap has widened by $15,671 since 2009.
Employment
| Metric | Scotland County | Missouri Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 1.0% | 4.1% | 5.2% |
| Working from Home | 9.4% | 11.6% | 13.4% |
| Commute time (minutes) | 12 | 21 | 22 |
Approximately 17 people are unemployed in Scotland County, Missouri.
The average commute time in Scotland County is 12 minutes, shorter than the 21 minutes in Missouri.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Scotland County, Missouri has fallen from 4.3% to 1.0% in 2023.
Conclusion
Considering all these factors, Scotland 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 Scotland County, Missouri.
How Rich Is Scotland County, Missouri?
Scotland 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 $67,703, about 2% lower than the Missouri average of $69,051.
What is the current median household income in Scotland County, Missouri?
As of 2023, the median household income in Scotland County, Missouri is $67,703.
What was the median household income in Scotland County in 2023?
In 2023, the median household income in Scotland County, Missouri was $67,703.
What was the median household income in Scotland County in 2020?
In 2020, the median household income in Scotland County, Missouri was $49,275.
What is the Gini coefficient in Scotland County, Missouri?
The Gini coefficient in Scotland County is 0.573. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Scotland County, Missouri?
Since 2009, the income gap between men and women in Scotland County, Missouri has widened from about 2% to 29% in 2023. In dollar terms, the gap has widened by $15,671 since 2009.