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 | Sherman County | Nebraska Avg | US Average |
|---|---|---|---|
| Median Household Income | $61,791 | $74,987 | $78,145 |
| Median Personal Income | $51,250 | $58,336 | $61,726 |
| Average income growth | 4.0% | 4.6% | 5.1% |
| Six-Figure Earners | 5.6% | 10.8% | 13.2% |
The median household income in Sherman County is about 18% lower than in Nebraska. Income has been growing slower in Sherman County (4.0%/yr) than in Nebraska (4.6%/yr).
About 6% of adults in Sherman 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 Sherman County, Nebraska grew by 66.9% from 2009 to 2023, reaching $61,791 in 2023. That's an average of about 4.0% per year.
Economic Inequality in Sherman County | Gender Pay Gap | Gini Coefficient
| Metric | Sherman County | Nebraska Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.492 | 0.520 | 0.570 |
| Male Median Income | $55,869 | $64,195 | $67,746 |
| Female Median Income | $39,728 | $51,020 | $54,793 |
| Gender Pay Gap | 28.9% | 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 Sherman County, it is 0.492, 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 41% more than women's income in Sherman County, Nebraska. Over a 35-year career, a 41% wage gap accumulates to roughly $564,935 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Sherman County, Nebraska has narrowed from about 31% to 29% in 2023. In dollar terms, the gap has widened by $5,397 since 2009.
Employment
| Metric | Sherman County | Nebraska Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.6% | 3.0% | 5.2% |
| Working from Home | 7.0% | 10.0% | 13.4% |
| Commute time (minutes) | 16 | 16 | 22 |
Approximately 70 people are unemployed in Sherman County, Nebraska.
The average commute time in Sherman County is 16 minutes, about the same as in Nebraska.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Sherman County, Nebraska has risen from 3.3% to 4.6% in 2023.
Conclusion
Considering all these factors, Sherman County, Nebraska has an overall wealth index grade of C, making it about on par with Nebraska, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Sherman County, Nebraska.
How Rich Is Sherman County, Nebraska?
Sherman 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 $61,791, about 18% lower than the Nebraska average of $74,987.
What is the current median household income in Sherman County, Nebraska?
As of 2023, the median household income in Sherman County, Nebraska is $61,791.
What was the median household income in Sherman County in 2023?
In 2023, the median household income in Sherman County, Nebraska was $61,791.
What was the median household income in Sherman County in 2020?
In 2020, the median household income in Sherman County, Nebraska was $52,692.
What is the Gini coefficient in Sherman County, Nebraska?
The Gini coefficient in Sherman County is 0.492. 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 Sherman County, Nebraska?
Since 2009, the income gap between men and women in Sherman County, Nebraska has narrowed from about 31% to 29% in 2023. In dollar terms, the gap has widened by $5,397 since 2009.