Wealth Index
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 | Greensville County | Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $57,601 | $91,409 | $78,145 |
| Median Personal Income | $42,738 | $68,517 | $61,726 |
| Average income growth | 5.1% | 4.6% | 5.1% |
| Six-Figure Earners | 3.3% | 17.6% | 13.2% |
The median household income in Greensville County is about 37% lower than in Virginia. Income has been growing faster in Greensville County (5.1%/yr) than in Virginia (4.6%/yr).
About 3% of adults in Greensville 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 Greensville County, Virginia grew by 42.0% from 2009 to 2023, reaching $57,601 in 2023. That's an average of about 5.1% per year.
Economic Inequality in Greensville County | Gender Pay Gap | Gini Coefficient
| Metric | Greensville County | Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.599 | 0.565 | 0.570 |
| Male Median Income | $46,434 | $76,014 | $67,746 |
| Female Median Income | $40,430 | $60,748 | $54,793 |
| Gender Pay Gap | 12.9% | 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 Greensville County, it is 0.599, 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 15% more than women's income in Greensville County, Virginia. Over a 35-year career, a 15% wage gap accumulates to roughly $210,140 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Greensville County, Virginia has narrowed from about 27% to 13% in 2023. In dollar terms, the gap has narrowed by $4,167 since 2009.
Employment
| Metric | Greensville County | Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.7% | 4.2% | 5.2% |
| Working from Home | 3.0% | 16.2% | 13.4% |
| Commute time (minutes) | 20 | 23 | 22 |
Approximately 283 people are unemployed in Greensville County, Virginia.
The average commute time in Greensville County is 20 minutes, shorter than the 23 minutes in Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Greensville County, Virginia has fallen from 8.5% to 6.7% in 2023.
Conclusion
Considering all these factors, Greensville 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 Greensville County, Virginia.
How Rich Is Greensville County, Virginia?
Greensville 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 $57,601, about 37% lower than the Virginia average of $91,409.
What is the current median household income in Greensville County, Virginia?
As of 2023, the median household income in Greensville County, Virginia is $57,601.
What was the median household income in Greensville County in 2023?
In 2023, the median household income in Greensville County, Virginia was $57,601.
What was the median household income in Greensville County in 2020?
In 2020, the median household income in Greensville County, Virginia was $49,630.
What is the Gini coefficient in Greensville County, Virginia?
The Gini coefficient in Greensville County is 0.599. 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 Greensville County, Virginia?
Since 2009, the income gap between men and women in Greensville County, Virginia has narrowed from about 27% to 13% in 2023. In dollar terms, the gap has narrowed by $4,167 since 2009.