Iron County, Wisconsin Income Statistics
Iron County Wealth Score
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.
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C
Iron County Below averageLess wealthy than 92% of counties in Wisconsin
Source: Map AI Methodology
Income Statistics Overview
| Metric | Iron County | Wisconsin Avg | US Average |
|---|---|---|---|
| Median Household Income | $60,580 | $77,698 | $80,455 |
| Median Personal Income | $50,149 | $59,261 | $60,758 |
| Average Yearly Income Growth | 5.1% | 4.4% | 4.8% |
| Six-Figure Earners | 6.2% | 11.4% | 13.9% |
| $200k+ Households | 3.1% | 9.2% | 13.2% |
The median household income in Iron County is about 22% lower than in Wisconsin. Income has been growing faster in Iron County (5.1%/yr) than in Wisconsin (4.4%/yr).
About 6% of adults in Iron County earn six figures ($100,000 or more) a year, lower than the Wisconsin average of 11%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Iron County, Wisconsin grew by 75.9% from 2009 to 2024, reaching $60,580 in 2024. That's an average of about 5.1% per year.
Income Inequality and the Gender Pay Gap in Iron County
| Metric | Iron County | Wisconsin Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.461 | 0.503 | 0.552 |
| Male Median Income | $58,274 | $67,892 | $69,667 |
| Female Median Income | $47,851 | $54,788 | $56,850 |
| Gender Pay Gap | 17.9% | 19.3% | 18.4% |
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 Iron County, it is 0.461, lower than Wisconsin's 0.503, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 22% more than women's income in Iron County, Wisconsin. Over a 35-year career, a 22% wage gap accumulates to roughly $364,805 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Iron County, Wisconsin has narrowed from about 35% to 18% in 2024. Over that period the gap was narrowest at 16% in 2022. In dollar terms, the gap has narrowed by $2,593 since 2009.
Employment
| Metric | Iron County | Wisconsin Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.5% | 3.2% | 5.2% |
| Working from Home | 6.8% | 13.1% | 15.0% |
| Commute time (minutes) | 16 | 18 | 22 |
Approximately 71 people are unemployed in Iron County, Wisconsin.
The average commute time in Iron County is 16 minutes, shorter than the 18 minutes in Wisconsin.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Iron County, Wisconsin has fallen from 9.1% to 2.5% in 2024. Over that period the rate peaked at 9.7% in 2014.
Iron County, WI Wealth Compared With Nearby Counties
Iron County, WI is the smallest of the 6 counties compared here, 6,210 residents against a local median of 16,080. The measure that sets Iron County, WI apart most is unemployment: 2.5%, 33% below the local median of 3.8%. That is the better end of the local range on this measure.
The counties themselves spread 4.5% on unemployment, so Iron County, WI sits at one end of an already wide local range rather than apart from it. Iron County, WI has the 2nd lowest unemployment of the 6 areas compared here.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Iron County, WI | 6,210 | $60,580 #5/6 | 5.1%/yr #3/6 | 2.5% #2/6 | 0.461 #1/6 |
| Ashland County, WI | 16,080 | $61,326 | 5.5%/yr | 3.8% | 0.503 |
| Gogebic County, MI | 14,317 | $52,407 | 4.9%/yr | 6.5% | 0.501 |
| Price County, WI | 14,089 | $60,738 | 4.1%/yr | 2.9% | 0.479 |
| Vilas County, WI | 23,647 | $68,038 | 6.4%/yr | 4.0% | 0.483 |
| Oneida County, WI | 38,164 | $68,781 | 4.2%/yr | 2.0% | 0.491 |
Conclusion
Considering all these factors, Iron County, Wisconsin has an overall wealth index grade of C, making it about on par with Wisconsin, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Iron County, Wisconsin.
How Wealthy Is Iron County, Wisconsin?
Iron 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 $60,580, about 22% lower than the Wisconsin average of $77,698.
Are incomes growing in Iron County, Wisconsin?
Between 2009 and 2024, the median household income in Iron County, Wisconsin rose 76%, from $34,438 to $60,580. Over the same years, income here outpaced Wisconsin as a whole: +76% against +50%.
What was the median household income in Iron County in 2023?
In 2023, the median household income in Iron County, Wisconsin was $59,017, up 6% from $55,874 in 2022. The Wisconsin median that year was $75,781.
What was the median household income in Iron County in 2020?
In 2020, the median household income in Iron County, Wisconsin was $45,744. By 2024 it had risen 32% to $60,580.
What is the Gini coefficient in Iron County, Wisconsin?
The Gini coefficient in Iron County is 0.461. 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 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Iron County, Wisconsin?
Since 2009, the income gap between men and women in Iron County, Wisconsin has narrowed from about 35% to 18% in 2024. Over that period the gap was narrowest at 16% in 2022. In dollar terms, the gap has narrowed by $2,593 since 2009.
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