Wealth Index
Least wealthy county in Vermont
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 | Essex County | Vermont Avg | US Average |
|---|---|---|---|
| Median Household Income | $58,558 | $78,253 | $78,145 |
| Median Personal Income | $54,608 | $62,394 | $61,726 |
| Average income growth | 5.8% | 4.8% | 5.1% |
| Six-Figure Earners | 5.3% | 11.6% | 13.2% |
The median household income in Essex County is about 25% lower than in Vermont. Income has been growing faster in Essex County (5.8%/yr) than in Vermont (4.8%/yr).
About 5% of adults in Essex County earn six figures ($100,000 or more) a year, lower than the Vermont average of 12%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Essex County, Vermont grew by 46.2% from 2009 to 2023, reaching $58,558 in 2023. That's an average of about 5.8% per year.
Economic Inequality in Essex County | Gender Pay Gap | Gini Coefficient
| Metric | Essex County | Vermont Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.490 | 0.519 | 0.570 |
| Male Median Income | $58,725 | $65,455 | $67,746 |
| Female Median Income | $51,899 | $58,889 | $54,793 |
| Gender Pay Gap | 11.6% | 10.0% | 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 Essex County, it is 0.490, lower than Vermont's 0.519, 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 13% more than women's income in Essex County, Vermont. Over a 35-year career, a 13% wage gap accumulates to roughly $238,910 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Essex County, Vermont has narrowed from about 26% to 12% in 2023. In dollar terms, the gap has narrowed by $2,699 since 2009.
Employment
| Metric | Essex County | Vermont Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.6% | 3.6% | 5.2% |
| Working from Home | 8.4% | 15.0% | 13.4% |
| Commute time (minutes) | 23 | 20 | 22 |
Approximately 155 people are unemployed in Essex County, Vermont.
The average commute time in Essex County is 23 minutes, longer than the 20 minutes in Vermont.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Essex County, Vermont has fallen from 9.3% to 5.6% in 2023.
Conclusion
Considering all these factors, Essex County, Vermont has an overall wealth index grade of C, making it somewhat worse than Vermont, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Essex County, Vermont.
How Wealthy Is Essex County, Vermont?
Essex 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 $58,558, about 25% lower than the Vermont average of $78,253.
What is the current median household income in Essex County, Vermont?
As of 2023, the median household income in Essex County, Vermont is $58,558.
What was the median household income in Essex County in 2023?
In 2023, the median household income in Essex County, Vermont was $58,558.
What was the median household income in Essex County in 2020?
In 2020, the median household income in Essex County, Vermont was $47,515.
What is the Gini coefficient in Essex County, Vermont?
The Gini coefficient in Essex County is 0.490. 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 Essex County, Vermont?
Since 2009, the income gap between men and women in Essex County, Vermont has narrowed from about 26% to 12% in 2023. In dollar terms, the gap has narrowed by $2,699 since 2009.