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 | Lyon County | Nevada Avg | US Average |
|---|---|---|---|
| Median Household Income | $73,773 | $75,608 | $78,145 |
| Median Personal Income | $60,626 | $55,569 | $61,726 |
| Average income growth | 6.0% | 5.1% | 5.1% |
| Six-Figure Earners | 8.1% | 11.0% | 13.2% |
The median household income in Lyon County is about 2% lower than in Nevada. Income has been growing faster in Lyon County (6.0%/yr) than in Nevada (5.1%/yr).
About 8% of adults in Lyon County earn six figures ($100,000 or more) a year, lower than the Nevada average of 11%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Lyon County, Nevada grew by 51.4% from 2009 to 2023, reaching $73,773 in 2023. That's an average of about 6.0% per year.
Economic Inequality in Lyon County | Gender Pay Gap | Gini Coefficient
| Metric | Lyon County | Nevada Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.523 | 0.552 | 0.570 |
| Male Median Income | $65,506 | $60,195 | $67,746 |
| Female Median Income | $50,729 | $50,957 | $54,793 |
| Gender Pay Gap | 22.6% | 15.3% | 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 Lyon County, it is 0.523, lower than Nevada's 0.552, 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 29% more than women's income in Lyon County, Nevada. Over a 35-year career, a 29% wage gap accumulates to roughly $517,195 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Lyon County, Nevada has narrowed from about 29% to 23% in 2023. In dollar terms, the gap has widened by $2,307 since 2009.
Employment
| Metric | Lyon County | Nevada Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.2% | 6.8% | 5.2% |
| Working from Home | 7.4% | 10.5% | 13.4% |
| Commute time (minutes) | 26 | 22 | 22 |
Approximately 1,820 people are unemployed in Lyon County, Nevada.
The average commute time in Lyon County is 26 minutes, longer than the 22 minutes in Nevada.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Lyon County, Nevada has fallen from 16.6% to 6.2% in 2023.
Conclusion
Considering all these factors, Lyon County, Nevada has an overall wealth index grade of C, making it about on par with Nevada, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Lyon County, Nevada.
How Rich Is Lyon County, Nevada?
Lyon 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 $73,773, about 2% lower than the Nevada average of $75,608.
What is the current median household income in Lyon County, Nevada?
As of 2023, the median household income in Lyon County, Nevada is $73,773.
What was the median household income in Lyon County in 2023?
In 2023, the median household income in Lyon County, Nevada was $73,773.
What was the median household income in Lyon County in 2020?
In 2020, the median household income in Lyon County, Nevada was $58,647.
What is the Gini coefficient in Lyon County, Nevada?
The Gini coefficient in Lyon County is 0.523. 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 Lyon County, Nevada?
Since 2009, the income gap between men and women in Lyon County, Nevada has narrowed from about 29% to 23% in 2023. In dollar terms, the gap has widened by $2,307 since 2009.