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 | Nance County | Nebraska Avg | US Average |
|---|---|---|---|
| Median Household Income | $66,061 | $74,987 | $78,145 |
| Median Personal Income | $51,569 | $58,336 | $61,726 |
| Average income growth | 6.5% | 4.6% | 5.1% |
| Six-Figure Earners | 6.8% | 10.8% | 13.2% |
The median household income in Nance County is about 12% lower than in Nebraska. Income has been growing faster in Nance County (6.5%/yr) than in Nebraska (4.6%/yr).
About 7% of adults in Nance 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 Nance County, Nebraska grew by 60.8% from 2009 to 2023, reaching $66,061 in 2023. That's an average of about 6.5% per year.
Economic Inequality in Nance County | Gender Pay Gap | Gini Coefficient
| Metric | Nance County | Nebraska Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.503 | 0.520 | 0.570 |
| Male Median Income | $53,987 | $64,195 | $67,746 |
| Female Median Income | $48,699 | $51,020 | $54,793 |
| Gender Pay Gap | 9.8% | 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 Nance County, it is 0.503, lower than Nebraska's 0.520, 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 11% more than women's income in Nance County, Nebraska. Over a 35-year career, a 11% wage gap accumulates to roughly $185,080 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Nance County, Nebraska has narrowed from about 18% to 10% in 2023. In dollar terms, the gap has narrowed by $925 since 2009.
Employment
| Metric | Nance County | Nebraska Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.0% | 3.0% | 5.2% |
| Working from Home | 10.4% | 10.0% | 13.4% |
| Commute time (minutes) | 18 | 16 | 22 |
Approximately 52 people are unemployed in Nance County, Nebraska.
The average commute time in Nance County is 18 minutes, longer than the 16 minutes in Nebraska.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Nance County, Nebraska has fallen from 5.6% to 3.0% in 2023.
Conclusion
Considering all these factors, Nance 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 Nance County, Nebraska.
How Rich Is Nance County, Nebraska?
Nance 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 $66,061, about 12% lower than the Nebraska average of $74,987.
What is the current median household income in Nance County, Nebraska?
As of 2023, the median household income in Nance County, Nebraska is $66,061.
What was the median household income in Nance County in 2023?
In 2023, the median household income in Nance County, Nebraska was $66,061.
What was the median household income in Nance County in 2020?
In 2020, the median household income in Nance County, Nebraska was $54,228.
What is the Gini coefficient in Nance County, Nebraska?
The Gini coefficient in Nance County is 0.503. 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 Nance County, Nebraska?
Since 2009, the income gap between men and women in Nance County, Nebraska has narrowed from about 18% to 10% in 2023. In dollar terms, the gap has narrowed by $925 since 2009.