Wealth Index
Wealthier than 74% of counties in Nebraska
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 | Buffalo County | Nebraska Avg | US Average |
|---|---|---|---|
| Median Household Income | $74,671 | $74,987 | $78,145 |
| Median Personal Income | $55,671 | $58,336 | $61,726 |
| Average income growth | 4.6% | 4.6% | 5.1% |
| Six-Figure Earners | 9.3% | 10.8% | 13.2% |
The median household income in Buffalo County is about the same as in Nebraska. Income has been growing faster in Buffalo County (4.6%/yr) than in Nebraska (4.6%/yr).
About 9% of adults in Buffalo County earn six figures ($100,000 or more) a year, lower than the Nebraska average of 11%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Buffalo County, Nebraska grew by 60.0% from 2009 to 2023, reaching $74,671 in 2023. That's an average of about 4.6% per year.
Economic Inequality in Buffalo County | Gender Pay Gap | Gini Coefficient
| Metric | Buffalo County | Nebraska Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.524 | 0.520 | 0.570 |
| Male Median Income | $61,291 | $64,195 | $67,746 |
| Female Median Income | $49,061 | $51,020 | $54,793 |
| Gender Pay Gap | 20.0% | 20.5% | 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 Buffalo County, it is 0.524, about the same as Nebraska's 0.520, so income here is about as evenly distributed as there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 25% more than women's income in Buffalo County, Nebraska. Over a 35-year career, a 25% wage gap accumulates to roughly $428,050 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Buffalo County, Nebraska has narrowed from about 26% to 20% in 2023. In dollar terms, the gap has widened by $2,256 since 2009.
Employment
| Metric | Buffalo County | Nebraska Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.8% | 3.0% | 5.2% |
| Working from Home | 4.4% | 10.0% | 13.4% |
| Commute time (minutes) | 12 | 16 | 22 |
Approximately 790 people are unemployed in Buffalo County, Nebraska.
The average commute time in Buffalo County is 12 minutes, shorter than the 16 minutes in Nebraska.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Buffalo County, Nebraska has fallen from 4.3% to 2.8% in 2023.
Conclusion
Considering all these factors, Buffalo County, Nebraska has an overall wealth index grade of B, making it about on par with Nebraska, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Buffalo County, Nebraska.
How Rich Is Buffalo County, Nebraska?
Buffalo 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 $74,671, close to the Nebraska average of $74,987.
What is the current median household income in Buffalo County, Nebraska?
As of 2023, the median household income in Buffalo County, Nebraska is $74,671.
What was the median household income in Buffalo County in 2023?
In 2023, the median household income in Buffalo County, Nebraska was $74,671.
What was the median household income in Buffalo County in 2020?
In 2020, the median household income in Buffalo County, Nebraska was $63,375.
What is the Gini coefficient in Buffalo County, Nebraska?
The Gini coefficient in Buffalo 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 Buffalo County, Nebraska?
Since 2009, the income gap between men and women in Buffalo County, Nebraska has narrowed from about 26% to 20% in 2023. In dollar terms, the gap has widened by $2,256 since 2009.