Hanover County, Virginia Income Statistics
Hanover 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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B
Hanover County Around averageWealthier than 92% of counties in Virginia
Source: Map AI Methodology
Income Statistics Overview
| Metric | Hanover County | Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $113,167 | $93,527 | $80,455 |
| Median Personal Income | $70,301 | $68,139 | $60,758 |
| Average Yearly Income Growth | 4.2% | 4.3% | 4.8% |
| Six-Figure Earners | 18.9% | 18.3% | 13.9% |
| $200k+ Households | 19.3% | 17.7% | 13.2% |
The median household income in Hanover County is about 21% higher than in Virginia. Income has been growing slower in Hanover County (4.2%/yr) than in Virginia (4.3%/yr).
About 19% of adults in Hanover County earn six figures ($100,000 or more) a year, higher than the Virginia average of 18%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Hanover County, Virginia grew by 47.6% from 2009 to 2024, reaching $113,167 in 2024. That's an average of about 4.2% per year.
Income Inequality and the Gender Pay Gap in Hanover County
| Metric | Hanover County | Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.514 | 0.544 | 0.552 |
| Male Median Income | $84,483 | $78,585 | $69,667 |
| Female Median Income | $64,117 | $62,626 | $56,850 |
| Gender Pay Gap | 24.1% | 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 Hanover County, it is 0.514, 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 32% more than women's income in Hanover County, Virginia. Over a 35-year career, a 32% wage gap accumulates to roughly $712,810 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Hanover County, Virginia has narrowed from about 26% to 24% in 2024. Over that period the gap was narrowest at 20% in 2022. In dollar terms, the gap has widened by $4,809 since 2009.
Employment
| Metric | Hanover County | Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.7% | 4.1% | 5.2% |
| Working from Home | 19.1% | 18.3% | 15.0% |
| Commute time (minutes) | 23 | 23 | 22 |
Approximately 1,634 people are unemployed in Hanover County, Virginia.
The average commute time in Hanover County is 23 minutes, about the same as in Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Hanover County, Virginia has fallen from 4.3% to 2.7% in 2024. Over that period the rate peaked at 5.3% in 2013 and fell as low as 2.7% in 2023.
Hanover County, VA Wealth Compared With Nearby Counties
Hanover County, VA is the 3rd largest of the 5 counties compared here, 112,800 residents against a local median of 183,792. The measure that sets Hanover County, VA apart most is unemployment: 2.7%, 36% below the local median of 4.2%. That is the better end of the local range on this measure.
Median household income tells the same story from another angle: $113,167 against a local median of $88,207, 28% above it. Every measure here with a clear better direction points the same way, so Hanover County, VA is not trading one advantage for another, it reads stronger than its neighbours across the board. The counties themselves spread 2.8% on unemployment, so Hanover County, VA sits at one end of an already wide local range rather than apart from it. Hanover County, VA has the 2nd lowest unemployment 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. |
|---|---|---|---|---|---|
| Hanover County, VA | 112,800 | $113,167 #1/5 | 4.2%/yr #2/5 | 2.7% #2/5 | 0.514 #2/5 |
| Henrico County, VA | 335,485 | $89,133 | 4.2%/yr | 3.9% | 0.524 |
| Caroline County, VA | 32,098 | $86,935 | 5.1%/yr | 5.1% | 0.516 |
| Chesterfield County, VA | 377,744 | $102,256 | 4.2%/yr | 4.6% | 0.522 |
| King William County, VA | 18,593 | $87,281 | 3.5%/yr | 2.3% | 0.489 |
Conclusion
Considering all these factors, Hanover County, Virginia has an overall wealth index grade of B, making it somewhat better than Virginia, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Hanover County, Virginia.
How Rich Is Hanover County, Virginia?
Hanover County has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $113,167, about 21% higher than the Virginia average of $93,527.
Are incomes growing in Hanover County, Virginia?
Between 2009 and 2024, the median household income in Hanover County, Virginia rose 48%, from $76,662 to $113,167. Over the same years, income here lagged behind Virginia as a whole: +48% against +55%.
What was the median household income in Hanover County in 2023?
In 2023, the median household income in Hanover County, Virginia was $109,755, up 4% from $105,590 in 2022. The Virginia median that year was $91,420.
What was the median household income in Hanover County in 2020?
In 2020, the median household income in Hanover County, Virginia was $91,493. By 2024 it had risen 24% to $113,167.
Is unemployment high in Hanover County, Virginia?
Unemployment in Hanover County, Virginia is only 2.7%, well below the Virginia rate of 4.1%, a sign of a tight labor market where employers compete for workers.
What is the Gini coefficient in Hanover County, Virginia?
The Gini coefficient in Hanover County is 0.514. 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 Hanover County, Virginia?
Since 2009, the income gap between men and women in Hanover County, Virginia has narrowed from about 26% to 24% in 2024. Over that period the gap was narrowest at 20% in 2022. In dollar terms, the gap has widened by $4,809 since 2009.
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