Buchanan County, Virginia Income Statistics
Buchanan County Wealth Score
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.
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D
Buchanan County Well below averageAmong the 5 least wealthy counties in Virginia
Source: Map AI Methodology
Income Statistics Overview
| Metric | Buchanan County | Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $43,339 | $93,527 | $80,455 |
| Median Personal Income | $43,890 | $68,139 | $60,758 |
| Average Yearly Income Growth | 4.5% | 4.3% | 4.8% |
| Six-Figure Earners | 3.8% | 18.3% | 13.9% |
| $200k+ Households | 1.8% | 17.7% | 13.2% |
The median household income in Buchanan County is about 54% lower than in Virginia. Income has been growing faster in Buchanan County (4.5%/yr) than in Virginia (4.3%/yr).
About 4% of adults in Buchanan County earn six figures ($100,000 or more) a year, lower than the Virginia average of 18%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Buchanan County, Virginia grew by 60.6% from 2009 to 2024, reaching $43,339 in 2024. That's an average of about 4.5% per year.
Income Inequality and the Gender Pay Gap in Buchanan County
| Metric | Buchanan County | Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.593 | 0.544 | 0.552 |
| Male Median Income | $53,991 | $78,585 | $69,667 |
| Female Median Income | $42,223 | $62,626 | $56,850 |
| Gender Pay Gap | 21.8% | 20.3% | 18.4% |
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 Buchanan County, it is 0.593, higher than Virginia's 0.544, so income is less evenly distributed here than there, and higher than the US's 0.552, so income is less evenly distributed here than there.
Men's income is about 28% more than women's income in Buchanan County, Virginia. Over a 35-year career, a 28% wage gap accumulates to roughly $411,880 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Buchanan County, Virginia has narrowed from about 29% to 22% in 2024. Over that period the gap was widest at 47% in 2012, and was narrowest at 14% in 2022. In dollar terms, the gap has widened by $819 since 2009.
Employment
| Metric | Buchanan County | Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.9% | 4.1% | 5.2% |
| Working from Home | 6.5% | 18.3% | 15.0% |
| Commute time (minutes) | 26 | 23 | 22 |
Approximately 216 people are unemployed in Buchanan County, Virginia.
The average commute time in Buchanan County is 26 minutes, longer than the 23 minutes in Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Buchanan County, Virginia has fallen from 9.5% to 3.9% in 2024. Over that period the rate peaked at 11.4% in 2013 and fell as low as 3.6% in 2023.
Buchanan County, VA Wealth Compared With Nearby Counties
Buchanan County, VA is typical in size for this group, 19,415 residents against a local median of 22,544, so the measures below are close to a like for like comparison. Buchanan County, VA's income growth, at 4.5%/yr, runs 28% above the 3.5%/yr typical of the counties around it. That is the better end of the local range on this measure.
Unemployment tells the same story from another angle: 3.9% against a local median of 5.2%, 26% below it. Every measure here with a clear better direction points the same way, so Buchanan County, VA is not trading one advantage for another, it reads stronger than its neighbours across the board. The counties themselves spread 3.5%/yr on income growth, so Buchanan County, VA sits at one end of an already wide local range rather than apart from it. Buchanan County, VA has the 2nd highest income growth of the 6 areas compared here.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Buchanan County, VA | 19,415 | $43,339 #4/6 | 4.5%/yr #2/6 | 3.9% #3/6 | 0.593 #4/6 |
| Russell County, VA | 25,530 | $50,007 | 3.5%/yr | 3.6% | 0.543 |
| Dickenson County, VA | 13,730 | $46,837 | 5.5%/yr | 2.3% | 0.552 |
| McDowell County, WV | 17,943 | $32,066 | 3.2%/yr | 8.2% | 0.631 |
| Pike County, KY | 56,725 | $44,332 | 3.9%/yr | 5.2% | 0.568 |
| Mingo County, WV | 22,544 | $37,935 | 2.0%/yr | 11.5% | 0.605 |
Conclusion
Considering all these factors, Buchanan County, Virginia has an overall wealth index grade of D, making it worse than Virginia, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Buchanan County, Virginia.
How Rich Is Buchanan County, Virginia?
Buchanan 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 $43,339, about 54% lower than the Virginia average of $93,527.
How has median household income changed in Buchanan County, Virginia?
Between 2009 and 2024, the median household income in Buchanan County, Virginia rose 61%, from $26,993 to $43,339. Over the same years, income here outpaced Virginia as a whole: +61% against +55%.
What was the median household income in Buchanan County in 2023?
In 2023, the median household income in Buchanan County, Virginia was $42,203, up 6% from $39,628 in 2022. The Virginia median that year was $91,420.
What was the median household income in Buchanan County in 2020?
In 2020, the median household income in Buchanan County, Virginia was $34,362. By 2024 it had risen 26% to $43,339.
What is the Gini coefficient in Buchanan County, Virginia?
The Gini coefficient in Buchanan County is 0.593. 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 0.552, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Buchanan County, Virginia?
Since 2009, the income gap between men and women in Buchanan County, Virginia has narrowed from about 29% to 22% in 2024. Over that period the gap was widest at 47% in 2012, and was narrowest at 14% in 2022. In dollar terms, the gap has widened by $819 since 2009.
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