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 | Shenandoah County | Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $65,083 | $91,409 | $78,145 |
| Median Personal Income | $51,273 | $68,517 | $61,726 |
| Average income growth | 3.7% | 4.6% | 5.1% |
| Six-Figure Earners | 8.0% | 17.6% | 13.2% |
The median household income in Shenandoah County is about 29% lower than in Virginia. Income has been growing slower in Shenandoah County (3.7%/yr) than in Virginia (4.6%/yr).
About 8% of adults in Shenandoah 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 Shenandoah County, Virginia grew by 29.1% from 2009 to 2023, reaching $65,083 in 2023. That's an average of about 3.7% per year.
Economic Inequality in Shenandoah County | Gender Pay Gap | Gini Coefficient
| Metric | Shenandoah County | Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.515 | 0.565 | 0.570 |
| Male Median Income | $54,068 | $76,014 | $67,746 |
| Female Median Income | $45,776 | $60,748 | $54,793 |
| Gender Pay Gap | 15.3% | 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 Shenandoah County, it is 0.515, 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 18% more than women's income in Shenandoah County, Virginia. Over a 35-year career, a 18% wage gap accumulates to roughly $290,220 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Shenandoah County, Virginia has narrowed from about 25% to 15% in 2023. In dollar terms, the gap has narrowed by $1,975 since 2009.
Employment
| Metric | Shenandoah County | Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.9% | 4.2% | 5.2% |
| Working from Home | 8.8% | 16.2% | 13.4% |
| Commute time (minutes) | 25 | 23 | 22 |
Approximately 833 people are unemployed in Shenandoah County, Virginia.
The average commute time in Shenandoah County is 25 minutes, longer than the 23 minutes in Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Shenandoah County, Virginia has fallen from 5.7% to 3.9% in 2023.
Conclusion
Considering all these factors, Shenandoah 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 Shenandoah County, Virginia.
How Rich Is Shenandoah County, Virginia?
Shenandoah 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 $65,083, about 29% lower than the Virginia average of $91,409.
What is the current median household income in Shenandoah County, Virginia?
As of 2023, the median household income in Shenandoah County, Virginia is $65,083.
What was the median household income in Shenandoah County in 2023?
In 2023, the median household income in Shenandoah County, Virginia was $65,083.
What was the median household income in Shenandoah County in 2020?
In 2020, the median household income in Shenandoah County, Virginia was $56,526.
What is the Gini coefficient in Shenandoah County, Virginia?
The Gini coefficient in Shenandoah County is 0.515. 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 Shenandoah County, Virginia?
Since 2009, the income gap between men and women in Shenandoah County, Virginia has narrowed from about 25% to 15% in 2023. In dollar terms, the gap has narrowed by $1,975 since 2009.