Floyd County, Virginia Income Statistics
Floyd 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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C
Floyd County Below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Floyd County | Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $64,159 | $93,527 | $80,455 |
| Median Personal Income | $48,186 | $68,139 | $60,758 |
| Average Yearly Income Growth | 3.9% | 4.3% | 4.8% |
| Six-Figure Earners | 9.0% | 18.3% | 13.9% |
| $200k+ Households | 5.9% | 17.7% | 13.2% |
The median household income in Floyd County is about 31% lower than in Virginia. Income has been growing slower in Floyd County (3.9%/yr) than in Virginia (4.3%/yr).
About 9% of adults in Floyd 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 Floyd County, Virginia grew by 57.8% from 2009 to 2024, reaching $64,159 in 2024. That's an average of about 3.9% per year.
Income Inequality and the Gender Pay Gap in Floyd County
| Metric | Floyd County | Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.527 | 0.544 | 0.552 |
| Male Median Income | $52,917 | $78,585 | $69,667 |
| Female Median Income | $48,009 | $62,626 | $56,850 |
| Gender Pay Gap | 9.3% | 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 Floyd County, it is 0.527, lower than Virginia's 0.544, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 10% more than women's income in Floyd County, Virginia. Over a 35-year career, a 10% wage gap accumulates to roughly $171,780 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Floyd County, Virginia has narrowed from about 20% to 9% in 2024. Over that period the gap was widest at 32% in 2014, and was narrowest at 0% in 2023. In dollar terms, the gap has narrowed by $2,951 since 2009.
Employment
| Metric | Floyd County | Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.6% | 4.1% | 5.2% |
| Working from Home | 11.7% | 18.3% | 15.0% |
| Commute time (minutes) | 27 | 23 | 22 |
Approximately 281 people are unemployed in Floyd County, Virginia.
The average commute time in Floyd County is 27 minutes, longer than the 23 minutes in Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Floyd County, Virginia has fallen from 6.0% to 3.6% in 2024. Over that period the rate peaked at 8.2% in 2013 and fell as low as 2.3% in 2019.
Floyd County, VA Wealth Compared With Nearby Counties
Floyd County, VA is the smallest of the 5 counties compared here, 15,593 residents against a local median of 31,421. Where Floyd County, VA breaks from the counties next to it is income growth, sitting 18% below the local median of 4.8%/yr at 3.9%/yr. That is the weaker end of the local range on this measure.
Unemployment tells the same story from another angle: 3.6% against a local median of 3.1%, 16% above it. Every measure here with a clear better direction points the same way, and it is the wrong way: Floyd County, VA reads weaker than its neighbours on all of them. The counties themselves spread 1.9%/yr on income growth, so Floyd County, VA sits at one end of an already wide local range rather than apart from it. Floyd County, VA has the 4th highest income growth of the 5 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. |
|---|---|---|---|---|---|
| Floyd County, VA | 15,593 | $64,159 #2/5 | 3.9%/yr #4/5 | 3.6% #4/5 | 0.527 #3/5 |
| Montgomery County, VA | 99,089 | $71,288 | 4.7%/yr | 2.9% | 0.623 |
| Patrick County, VA | 17,512 | $53,300 | 5.1%/yr | 2.5% | 0.528 |
| Pulaski County, VA | 33,685 | $63,216 | 3.1%/yr | 3.2% | 0.522 |
| Carroll County, VA | 29,157 | $54,664 | 4.9%/yr | 5.5% | 0.519 |
Conclusion
Considering all these factors, Floyd County, Virginia has an overall wealth index grade of C, making it somewhat worse than Virginia, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Floyd County, Virginia.
How Rich Is Floyd County, Virginia?
Floyd 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 $64,159, about 31% lower than the Virginia average of $93,527.
How fast is household income rising in Floyd County, Virginia?
Between 2009 and 2024, the median household income in Floyd County, Virginia rose 58%, from $40,662 to $64,159. Over the same years, income here outpaced Virginia as a whole: +58% against +55%.
What was the median household income in Floyd County in 2023?
In 2023, the median household income in Floyd County, Virginia was $61,362, up 6% from $58,008 in 2022. The Virginia median that year was $91,420.
What was the median household income in Floyd County in 2020?
In 2020, the median household income in Floyd County, Virginia was $52,068. By 2024 it had risen 23% to $64,159.
What is the Gini coefficient in Floyd County, Virginia?
The Gini coefficient in Floyd County is 0.527. 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 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Floyd County, Virginia?
Since 2009, the income gap between men and women in Floyd County, Virginia has narrowed from about 20% to 9% in 2024. Over that period the gap was widest at 32% in 2014, and was narrowest at 0% in 2023. In dollar terms, the gap has narrowed by $2,951 since 2009.
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