Wealth Index
Among the 5 least wealthy counties in New York
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 | Hamilton County | New York Avg | US Average |
|---|---|---|---|
| Median Household Income | $68,849 | $85,191 | $78,145 |
| Median Personal Income | $61,394 | $70,822 | $61,726 |
| Average income growth | 4.2% | 4.9% | 5.1% |
| Six-Figure Earners | 8.3% | 16.1% | 13.2% |
The median household income in Hamilton County is about 19% lower than in New York. Income has been growing slower in Hamilton County (4.2%/yr) than in New York (4.9%/yr).
About 8% of adults in Hamilton County earn six figures ($100,000 or more) a year, lower than the New York average of 16%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Hamilton County, New York grew by 52.0% from 2009 to 2023, reaching $68,849 in 2023. That's an average of about 4.2% per year.
Economic Inequality in Hamilton County | Gender Pay Gap | Gini Coefficient
| Metric | Hamilton County | New York Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.528 | 0.576 | 0.570 |
| Male Median Income | $67,224 | $75,380 | $67,746 |
| Female Median Income | $51,333 | $65,850 | $54,793 |
| Gender Pay Gap | 23.6% | 12.6% | 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 Hamilton County, it is 0.528, lower than New York's 0.576, 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 31% more than women's income in Hamilton County, New York. Over a 35-year career, a 31% wage gap accumulates to roughly $556,185 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Hamilton County, New York has widened from about 19% to 24% in 2023. In dollar terms, the gap has widened by $8,348 since 2009.
Employment
| Metric | Hamilton County | New York Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.4% | 6.2% | 5.2% |
| Working from Home | 13.7% | 13.4% | 13.4% |
| Commute time (minutes) | 15 | 28 | 22 |
Approximately 127 people are unemployed in Hamilton County, New York.
The average commute time in Hamilton County is 15 minutes, shorter than the 28 minutes in New York.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Hamilton County, New York has risen from 2.8% to 5.4% in 2023.
Conclusion
Considering all these factors, Hamilton County, New York has an overall wealth index grade of D, making it somewhat worse than New York, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Hamilton County, New York.
How Rich Is Hamilton County, New York?
Hamilton County has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $68,849, about 19% lower than the New York average of $85,191.
What is the current median household income in Hamilton County, New York?
As of 2023, the median household income in Hamilton County, New York is $68,849.
What was the median household income in Hamilton County in 2023?
In 2023, the median household income in Hamilton County, New York was $68,849.
What was the median household income in Hamilton County in 2020?
In 2020, the median household income in Hamilton County, New York was $60,226.
What is the Gini coefficient in Hamilton County, New York?
The Gini coefficient in Hamilton County is 0.528. 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 Hamilton County, New York?
Since 2009, the income gap between men and women in Hamilton County, New York has widened from about 19% to 24% in 2023. In dollar terms, the gap has widened by $8,348 since 2009.