Wealth Index
Less wealthy than 81% of counties in Virginia
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 | Bland County | Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $63,201 | $91,409 | $78,145 |
| Median Personal Income | $49,989 | $68,517 | $61,726 |
| Average income growth | 4.4% | 4.6% | 5.1% |
| Six-Figure Earners | 6.8% | 17.6% | 13.2% |
The median household income in Bland County is about 31% lower than in Virginia. Income has been growing slower in Bland County (4.4%/yr) than in Virginia (4.6%/yr).
About 7% of adults in Bland County earn six figures ($100,000 or more) a year, lower than the Virginia average of 18%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Bland County, Virginia grew by 50.8% from 2009 to 2023, reaching $63,201 in 2023. That's an average of about 4.4% per year.
Economic Inequality in Bland County | Gender Pay Gap | Gini Coefficient
| Metric | Bland County | Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.576 | 0.565 | 0.570 |
| Male Median Income | $52,595 | $76,014 | $67,746 |
| Female Median Income | $49,495 | $60,748 | $54,793 |
| Gender Pay Gap | 5.9% | 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 Bland County, it is 0.576, higher than Virginia's 0.565, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 6% more than women's income in Bland County, Virginia. Over a 35-year career, a 6% wage gap accumulates to roughly $108,500 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Bland County, Virginia has narrowed from about 23% to 6% in 2023. In dollar terms, the gap has narrowed by $5,561 since 2009.
Employment
| Metric | Bland County | Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 1.7% | 4.2% | 5.2% |
| Working from Home | 5.2% | 16.2% | 13.4% |
| Commute time (minutes) | 22 | 23 | 22 |
Approximately 41 people are unemployed in Bland County, Virginia.
The average commute time in Bland County is 22 minutes, shorter than the 23 minutes in Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Bland County, Virginia has fallen from 5.1% to 1.7% in 2023.
Conclusion
Considering all these factors, Bland County, Virginia has an overall wealth index grade of D, making it somewhat worse than Virginia, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Bland County, Virginia.
How Rich Is Bland County, Virginia?
Bland 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 $63,201, about 31% lower than the Virginia average of $91,409.
What is the current median household income in Bland County, Virginia?
As of 2023, the median household income in Bland County, Virginia is $63,201.
What was the median household income in Bland County in 2023?
In 2023, the median household income in Bland County, Virginia was $63,201.
What was the median household income in Bland County in 2020?
In 2020, the median household income in Bland County, Virginia was $50,571.
What is the Gini coefficient in Bland County, Virginia?
The Gini coefficient in Bland County is 0.576. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Bland County, Virginia?
Since 2009, the income gap between men and women in Bland County, Virginia has narrowed from about 23% to 6% in 2023. In dollar terms, the gap has narrowed by $5,561 since 2009.