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 | Knox County | Ohio Avg | US Average |
|---|---|---|---|
| Median Household Income | $74,179 | $69,785 | $78,145 |
| Median Personal Income | $54,817 | $59,599 | $61,726 |
| Average income growth | 6.2% | 4.7% | 5.1% |
| Six-Figure Earners | 7.8% | 10.5% | 13.2% |
The median household income in Knox County is about 6% higher than in Ohio. Income has been growing faster in Knox County (6.2%/yr) than in Ohio (4.7%/yr).
About 8% of adults in Knox County earn six figures ($100,000 or more) a year, lower than the Ohio average of 11%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Knox County, Ohio grew by 62.8% from 2009 to 2023, reaching $74,179 in 2023. That's an average of about 6.2% per year.
Economic Inequality in Knox County | Gender Pay Gap | Gini Coefficient
| Metric | Knox County | Ohio Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.531 | 0.543 | 0.570 |
| Male Median Income | $60,613 | $65,552 | $67,746 |
| Female Median Income | $48,414 | $52,370 | $54,793 |
| Gender Pay Gap | 20.1% | 20.1% | 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 Knox County, it is 0.531, lower than Ohio's 0.543, 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 25% more than women's income in Knox County, Ohio. Over a 35-year career, a 25% wage gap accumulates to roughly $426,965 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Knox County, Ohio has narrowed from about 24% to 20% in 2023. In dollar terms, the gap has widened by $2,110 since 2009.
Employment
| Metric | Knox County | Ohio Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.5% | 4.8% | 5.2% |
| Working from Home | 11.4% | 11.5% | 13.4% |
| Commute time (minutes) | 20 | 21 | 22 |
Approximately 746 people are unemployed in Knox County, Ohio.
The average commute time in Knox County is 20 minutes, shorter than the 21 minutes in Ohio.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Knox County, Ohio has fallen from 8.2% to 2.5% in 2023.
Conclusion
Considering all these factors, Knox County, Ohio has an overall wealth index grade of C, making it about on par with Ohio, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Knox County, Ohio.
How Rich Is Knox County, Ohio?
Knox 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 $74,179, about 6% higher than the Ohio average of $69,785.
What is the current median household income in Knox County, Ohio?
As of 2023, the median household income in Knox County, Ohio is $74,179.
What was the median household income in Knox County in 2023?
In 2023, the median household income in Knox County, Ohio was $74,179.
What was the median household income in Knox County in 2020?
In 2020, the median household income in Knox County, Ohio was $61,875.
What is the Gini coefficient in Knox County, Ohio?
The Gini coefficient in Knox County is 0.531. 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 Knox County, Ohio?
Since 2009, the income gap between men and women in Knox County, Ohio has narrowed from about 24% to 20% in 2023. In dollar terms, the gap has widened by $2,110 since 2009.