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 | Rockbridge County | Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $64,355 | $91,409 | $78,145 |
| Median Personal Income | $51,498 | $68,517 | $61,726 |
| Average income growth | 3.3% | 4.6% | 5.1% |
| Six-Figure Earners | 8.2% | 17.6% | 13.2% |
The median household income in Rockbridge County is about 30% lower than in Virginia. Income has been growing slower in Rockbridge County (3.3%/yr) than in Virginia (4.6%/yr).
About 8% of adults in Rockbridge 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 Rockbridge County, Virginia grew by 49.3% from 2009 to 2023, reaching $64,355 in 2023. That's an average of about 3.3% per year.
Economic Inequality in Rockbridge County | Gender Pay Gap | Gini Coefficient
| Metric | Rockbridge County | Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.536 | 0.565 | 0.570 |
| Male Median Income | $52,581 | $76,014 | $67,746 |
| Female Median Income | $50,678 | $60,748 | $54,793 |
| Gender Pay Gap | 3.6% | 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 Rockbridge County, it is 0.536, 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 4% more than women's income in Rockbridge County, Virginia. Over a 35-year career, a 4% wage gap accumulates to roughly $66,605 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Rockbridge County, Virginia has narrowed from about 22% to 4% in 2023. In dollar terms, the gap has narrowed by $6,356 since 2009.
Employment
| Metric | Rockbridge County | Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.3% | 4.2% | 5.2% |
| Working from Home | 10.8% | 16.2% | 13.4% |
| Commute time (minutes) | 22 | 23 | 22 |
Approximately 351 people are unemployed in Rockbridge County, Virginia.
The average commute time in Rockbridge County is 22 minutes, shorter than the 23 minutes in Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Rockbridge County, Virginia has fallen from 4.2% to 3.3% in 2023.
Conclusion
Considering all these factors, Rockbridge 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 Rockbridge County, Virginia.
How Rich Is Rockbridge County, Virginia?
Rockbridge 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 $64,355, about 30% lower than the Virginia average of $91,409.
What is the current median household income in Rockbridge County, Virginia?
As of 2023, the median household income in Rockbridge County, Virginia is $64,355.
What was the median household income in Rockbridge County in 2023?
In 2023, the median household income in Rockbridge County, Virginia was $64,355.
What was the median household income in Rockbridge County in 2020?
In 2020, the median household income in Rockbridge County, Virginia was $54,213.
What is the Gini coefficient in Rockbridge County, Virginia?
The Gini coefficient in Rockbridge County is 0.536. 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 Rockbridge County, Virginia?
Since 2009, the income gap between men and women in Rockbridge County, Virginia has narrowed from about 22% to 4% in 2023. In dollar terms, the gap has narrowed by $6,356 since 2009.