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 | King and Queen County | Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $71,169 | $91,409 | $78,145 |
| Median Personal Income | $56,674 | $68,517 | $61,726 |
| Average income growth | 5.7% | 4.6% | 5.1% |
| Six-Figure Earners | 9.4% | 17.6% | 13.2% |
The median household income in King and Queen County is about 22% lower than in Virginia. Income has been growing faster in King and Queen County (5.7%/yr) than in Virginia (4.6%/yr).
About 9% of adults in King and Queen 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 King and Queen County, Virginia grew by 62.3% from 2009 to 2023, reaching $71,169 in 2023. That's an average of about 5.7% per year.
Economic Inequality in King and Queen County | Gender Pay Gap | Gini Coefficient
| Metric | King and Queen County | Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.521 | 0.565 | 0.570 |
| Male Median Income | $65,131 | $76,014 | $67,746 |
| Female Median Income | $50,556 | $60,748 | $54,793 |
| Gender Pay Gap | 22.4% | 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 King and Queen County, it is 0.521, lower than Virginia's 0.565, so income is more evenly distributed here than there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 29% more than women's income in King and Queen County, Virginia. Over a 35-year career, a 29% wage gap accumulates to roughly $510,125 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in King and Queen County, Virginia has narrowed from about 32% to 22% in 2023. In dollar terms, the gap has widened by $514 since 2009.
Employment
| Metric | King and Queen County | Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.9% | 4.2% | 5.2% |
| Working from Home | 11.2% | 16.2% | 13.4% |
| Commute time (minutes) | 33 | 23 | 22 |
Approximately 172 people are unemployed in King and Queen County, Virginia.
The average commute time in King and Queen County is 33 minutes, longer than the 23 minutes in Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in King and Queen County, Virginia has fallen from 5.5% to 4.9% in 2023.
Conclusion
Considering all these factors, King and Queen County, Virginia has an overall wealth index grade of C, making it about on par with Virginia, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in King and Queen County, Virginia.
How Rich Is King and Queen County, Virginia?
King and Queen 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 $71,169, about 22% lower than the Virginia average of $91,409.
What is the current median household income in King and Queen County, Virginia?
As of 2023, the median household income in King and Queen County, Virginia is $71,169.
What was the median household income in King and Queen County in 2023?
In 2023, the median household income in King and Queen County, Virginia was $71,169.
What was the median household income in King and Queen County in 2020?
In 2020, the median household income in King and Queen County, Virginia was $64,199.
What is the Gini coefficient in King and Queen County, Virginia?
The Gini coefficient in King and Queen County is 0.521. 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 0.570, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in King and Queen County, Virginia?
Since 2009, the income gap between men and women in King and Queen County, Virginia has narrowed from about 32% to 22% in 2023. In dollar terms, the gap has widened by $514 since 2009.