Wealth Index
Less wealthy than 72% 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 | Trumbull County | Ohio Avg | US Average |
|---|---|---|---|
| Median Household Income | $55,663 | $69,785 | $78,145 |
| Median Personal Income | $51,119 | $59,599 | $61,726 |
| Average income growth | 3.5% | 4.7% | 5.1% |
| Six-Figure Earners | 5.5% | 10.5% | 13.2% |
The median household income in Trumbull County is about 20% lower than in Ohio. Income has been growing slower in Trumbull County (3.5%/yr) than in Ohio (4.7%/yr).
About 6% of adults in Trumbull 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 Trumbull County, Ohio grew by 30.5% from 2009 to 2023, reaching $55,663 in 2023. That's an average of about 3.5% per year.
Economic Inequality in Trumbull County | Gender Pay Gap | Gini Coefficient
| Metric | Trumbull County | Ohio Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.522 | 0.543 | 0.570 |
| Male Median Income | $55,710 | $65,552 | $67,746 |
| Female Median Income | $45,474 | $52,370 | $54,793 |
| Gender Pay Gap | 18.4% | 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 Trumbull County, it is 0.522, 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 Trumbull County, Ohio. Over a 35-year career, a 23% wage gap accumulates to roughly $358,260 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Trumbull County, Ohio has narrowed from about 28% to 18% in 2023. In dollar terms, the gap has narrowed by $2,230 since 2009.
Employment
| Metric | Trumbull County | Ohio Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.5% | 4.8% | 5.2% |
| Working from Home | 6.2% | 11.5% | 13.4% |
| Commute time (minutes) | 20 | 21 | 22 |
Approximately 4,071 people are unemployed in Trumbull County, Ohio.
The average commute time in Trumbull County is 20 minutes, shorter than the 21 minutes in Ohio.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Trumbull County, Ohio has fallen from 8.9% to 4.5% in 2023.
Conclusion
Considering all these factors, Trumbull County, Ohio has an overall wealth index grade of D, making it about on par with Ohio, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Trumbull County, Ohio.
How Rich Is Trumbull County, Ohio?
Trumbull 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 $55,663, about 20% lower than the Ohio average of $69,785.
What is the current median household income in Trumbull County, Ohio?
As of 2023, the median household income in Trumbull County, Ohio is $55,663.
What was the median household income in Trumbull County in 2023?
In 2023, the median household income in Trumbull County, Ohio was $55,663.
What was the median household income in Trumbull County in 2020?
In 2020, the median household income in Trumbull County, Ohio was $47,317.
What is the Gini coefficient in Trumbull County, Ohio?
The Gini coefficient in Trumbull County is 0.522. 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 Trumbull County, Ohio?
Since 2009, the income gap between men and women in Trumbull County, Ohio has narrowed from about 28% to 18% in 2023. In dollar terms, the gap has narrowed by $2,230 since 2009.