Wealth Index
Wealthier than 80% of counties in Ohio
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 | Licking County | Ohio Avg | US Average |
|---|---|---|---|
| Median Household Income | $81,427 | $69,785 | $78,145 |
| Median Personal Income | $63,467 | $59,599 | $61,726 |
| Average income growth | 5.1% | 4.7% | 5.1% |
| Six-Figure Earners | 11.8% | 10.5% | 13.2% |
The median household income in Licking County is about 17% higher than in Ohio. Income has been growing faster in Licking County (5.1%/yr) than in Ohio (4.7%/yr).
About 12% of adults in Licking County earn six figures ($100,000 or more) a year, higher than the Ohio average of 11%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Licking County, Ohio grew by 52.8% from 2009 to 2023, reaching $81,427 in 2023. That's an average of about 5.1% per year.
Economic Inequality in Licking County | Gender Pay Gap | Gini Coefficient
| Metric | Licking County | Ohio Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.531 | 0.543 | 0.570 |
| Male Median Income | $69,367 | $65,552 | $67,746 |
| Female Median Income | $56,455 | $52,370 | $54,793 |
| Gender Pay Gap | 18.6% | 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 Licking 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 23% more than women's income in Licking County, Ohio. Over a 35-year career, a 23% wage gap accumulates to roughly $451,920 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Licking County, Ohio has narrowed from about 21% to 19% in 2023. In dollar terms, the gap has widened by $2,977 since 2009.
Employment
| Metric | Licking County | Ohio Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.2% | 4.8% | 5.2% |
| Working from Home | 14.0% | 11.5% | 13.4% |
| Commute time (minutes) | 23 | 21 | 22 |
Approximately 2,881 people are unemployed in Licking County, Ohio.
The average commute time in Licking County is 23 minutes, longer than the 21 minutes in Ohio.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Licking County, Ohio has fallen from 7.7% to 3.2% in 2023.
Conclusion
Considering all these factors, Licking County, Ohio has an overall wealth index grade of B, making it somewhat better than Ohio, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Licking County, Ohio.
How Rich Is Licking County, Ohio?
Licking 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 $81,427, about 17% higher than the Ohio average of $69,785.
What is the current median household income in Licking County, Ohio?
As of 2023, the median household income in Licking County, Ohio is $81,427.
What was the median household income in Licking County in 2023?
In 2023, the median household income in Licking County, Ohio was $81,427.
What was the median household income in Licking County in 2020?
In 2020, the median household income in Licking County, Ohio was $67,877.
What is the Gini coefficient in Licking County, Ohio?
The Gini coefficient in Licking 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 Licking County, Ohio?
Since 2009, the income gap between men and women in Licking County, Ohio has narrowed from about 21% to 19% in 2023. In dollar terms, the gap has widened by $2,977 since 2009.