Wealth Index
Among the 5 least wealthy counties in Virginia
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 | Lee County | Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $41,924 | $91,409 | $78,145 |
| Median Personal Income | $50,972 | $68,517 | $61,726 |
| Average income growth | 3.9% | 4.6% | 5.1% |
| Six-Figure Earners | 3.9% | 17.6% | 13.2% |
The median household income in Lee County is about 54% lower than in Virginia. Income has been growing slower in Lee County (3.9%/yr) than in Virginia (4.6%/yr).
About 4% of adults in Lee 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 Lee County, Virginia grew by 40.5% from 2009 to 2023, reaching $41,924 in 2023. That's an average of about 3.9% per year.
Economic Inequality in Lee County | Gender Pay Gap | Gini Coefficient
| Metric | Lee County | Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.570 | 0.565 | 0.570 |
| Male Median Income | $54,782 | $76,014 | $67,746 |
| Female Median Income | $46,103 | $60,748 | $54,793 |
| Gender Pay Gap | 15.8% | 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 Lee County, it is 0.570, about the same as Virginia's 0.565, so income here is about as evenly distributed as there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 19% more than women's income in Lee County, Virginia. Over a 35-year career, a 19% wage gap accumulates to roughly $303,765 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Lee County, Virginia has narrowed from about 22% to 16% in 2023. In dollar terms, the gap has widened by $1,211 since 2009.
Employment
| Metric | Lee County | Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 9.3% | 4.2% | 5.2% |
| Working from Home | 7.5% | 16.2% | 13.4% |
| Commute time (minutes) | 18 | 23 | 22 |
Approximately 720 people are unemployed in Lee County, Virginia.
The average commute time in Lee County is 18 minutes, shorter than the 23 minutes in Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Lee County, Virginia has risen from 7.9% to 9.3% in 2023.
Conclusion
Considering all these factors, Lee 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 Lee County, Virginia.
How Rich Is Lee County, Virginia?
Lee 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 $41,924, about 54% lower than the Virginia average of $91,409.
What is the current median household income in Lee County, Virginia?
As of 2023, the median household income in Lee County, Virginia is $41,924.
What was the median household income in Lee County in 2023?
In 2023, the median household income in Lee County, Virginia was $41,924.
What was the median household income in Lee County in 2020?
In 2020, the median household income in Lee County, Virginia was $35,006.
What is the Gini coefficient in Lee County, Virginia?
The Gini coefficient in Lee County is 0.570. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Lee County, Virginia?
Since 2009, the income gap between men and women in Lee County, Virginia has narrowed from about 22% to 16% in 2023. In dollar terms, the gap has widened by $1,211 since 2009.