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 | Westmoreland County | Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $59,808 | $91,409 | $78,145 |
| Median Personal Income | $59,675 | $68,517 | $61,726 |
| Average income growth | 1.8% | 4.6% | 5.1% |
| Six-Figure Earners | 9.1% | 17.6% | 13.2% |
The median household income in Westmoreland County is about 35% lower than in Virginia. Income has been growing slower in Westmoreland County (1.8%/yr) than in Virginia (4.6%/yr).
About 9% of adults in Westmoreland 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 Westmoreland County, Virginia grew by 19.2% from 2009 to 2023, reaching $59,808 in 2023. That's an average of about 1.8% per year.
Economic Inequality in Westmoreland County | Gender Pay Gap | Gini Coefficient
| Metric | Westmoreland County | Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.545 | 0.565 | 0.570 |
| Male Median Income | $68,491 | $76,014 | $67,746 |
| Female Median Income | $50,495 | $60,748 | $54,793 |
| Gender Pay Gap | 26.3% | 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 Westmoreland County, it is 0.545, 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 36% more than women's income in Westmoreland County, Virginia. Over a 35-year career, a 36% wage gap accumulates to roughly $629,860 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Westmoreland County, Virginia has widened from about 15% to 26% in 2023. In dollar terms, the gap has widened by $11,893 since 2009.
Employment
| Metric | Westmoreland County | Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 7.4% | 4.2% | 5.2% |
| Working from Home | 12.1% | 16.2% | 13.4% |
| Commute time (minutes) | 32 | 23 | 22 |
Approximately 581 people are unemployed in Westmoreland County, Virginia.
The average commute time in Westmoreland County is 32 minutes, longer than the 23 minutes in Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Westmoreland County, Virginia has fallen from 9.9% to 7.4% in 2023.
Conclusion
Considering all these factors, Westmoreland 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 Westmoreland County, Virginia.
How Rich Is Westmoreland County, Virginia?
Westmoreland 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 $59,808, about 35% lower than the Virginia average of $91,409.
What is the current median household income in Westmoreland County, Virginia?
As of 2023, the median household income in Westmoreland County, Virginia is $59,808.
What was the median household income in Westmoreland County in 2023?
In 2023, the median household income in Westmoreland County, Virginia was $59,808.
What was the median household income in Westmoreland County in 2020?
In 2020, the median household income in Westmoreland County, Virginia was $54,183.
What is the Gini coefficient in Westmoreland County, Virginia?
The Gini coefficient in Westmoreland County is 0.545. 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 Westmoreland County, Virginia?
Since 2009, the income gap between men and women in Westmoreland County, Virginia has widened from about 15% to 26% in 2023. In dollar terms, the gap has widened by $11,893 since 2009.