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 | Rockingham County | Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $78,597 | $91,409 | $78,145 |
| Median Personal Income | $54,156 | $68,517 | $61,726 |
| Average income growth | 5.2% | 4.6% | 5.1% |
| Six-Figure Earners | 9.2% | 17.6% | 13.2% |
The median household income in Rockingham County is about 14% lower than in Virginia. Income has been growing faster in Rockingham County (5.2%/yr) than in Virginia (4.6%/yr).
About 9% of adults in Rockingham 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 Rockingham County, Virginia grew by 54.1% from 2009 to 2023, reaching $78,597 in 2023. That's an average of about 5.2% per year.
Economic Inequality in Rockingham County | Gender Pay Gap | Gini Coefficient
| Metric | Rockingham County | Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.528 | 0.565 | 0.570 |
| Male Median Income | $60,711 | $76,014 | $67,746 |
| Female Median Income | $46,437 | $60,748 | $54,793 |
| Gender Pay Gap | 23.5% | 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 Rockingham County, it is 0.528, 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 31% more than women's income in Rockingham County, Virginia. Over a 35-year career, a 31% wage gap accumulates to roughly $499,590 in unearned income for female workers in the area.
Income by Sex Over Time
The income gap between men and women in Rockingham County, Virginia has stayed about the same since 2009, at around 24%. In dollar terms, the gap has widened by $4,548 since 2009.
Employment
| Metric | Rockingham County | Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.7% | 4.2% | 5.2% |
| Working from Home | 8.1% | 16.2% | 13.4% |
| Commute time (minutes) | 20 | 23 | 22 |
Approximately 1,191 people are unemployed in Rockingham County, Virginia.
The average commute time in Rockingham County is 20 minutes, shorter than the 23 minutes in Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Rockingham County, Virginia has fallen from 4.7% to 2.7% in 2023.
Conclusion
Considering all these factors, Rockingham County, Virginia has an overall wealth index grade of B, making it about on par with Virginia, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Rockingham County, Virginia.
How Rich Is Rockingham County, Virginia?
Rockingham 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 $78,597, about 14% lower than the Virginia average of $91,409.
What is the current median household income in Rockingham County, Virginia?
As of 2023, the median household income in Rockingham County, Virginia is $78,597.
What was the median household income in Rockingham County in 2023?
In 2023, the median household income in Rockingham County, Virginia was $78,597.
What was the median household income in Rockingham County in 2020?
In 2020, the median household income in Rockingham County, Virginia was $65,245.
What is the Gini coefficient in Rockingham County, Virginia?
The Gini coefficient in Rockingham County is 0.528. 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 Rockingham County, Virginia?
The income gap between men and women in Rockingham County, Virginia has stayed about the same since 2009, at around 24%. In dollar terms, the gap has widened by $4,548 since 2009.