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 | Racine County | Wisconsin Avg | US Average |
|---|---|---|---|
| Median Household Income | $75,484 | $75,766 | $78,145 |
| Median Personal Income | $61,302 | $60,217 | $61,726 |
| Average income growth | 4.2% | 4.7% | 5.1% |
| Six-Figure Earners | 10.4% | 10.6% | 13.2% |
The median household income in Racine County is about the same as in Wisconsin. Income has been growing slower in Racine County (4.2%/yr) than in Wisconsin (4.7%/yr).
About 10% of adults in Racine County earn six figures ($100,000 or more) a year, about the same as the Wisconsin average of 11%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Racine County, Wisconsin grew by 39.3% from 2009 to 2023, reaching $75,484 in 2023. That's an average of about 4.2% per year.
Economic Inequality in Racine County | Gender Pay Gap | Gini Coefficient
| Metric | Racine County | Wisconsin Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.528 | 0.516 | 0.570 |
| Male Median Income | $66,395 | $65,881 | $67,746 |
| Female Median Income | $55,218 | $53,174 | $54,793 |
| Gender Pay Gap | 16.8% | 19.3% | 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 Racine County, it is 0.528, higher than Wisconsin's 0.516, so income is less 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 20% more than women's income in Racine County, Wisconsin. Over a 35-year career, a 20% wage gap accumulates to roughly $391,195 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Racine County, Wisconsin has narrowed from about 27% to 17% in 2023. In dollar terms, the gap has narrowed by $2,031 since 2009.
Employment
| Metric | Racine County | Wisconsin Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.2% | 3.3% | 5.2% |
| Working from Home | 8.9% | 11.6% | 13.4% |
| Commute time (minutes) | 21 | 18 | 22 |
Approximately 4,261 people are unemployed in Racine County, Wisconsin.
The average commute time in Racine County is 21 minutes, longer than the 18 minutes in Wisconsin.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Racine County, Wisconsin has fallen from 8.7% to 4.2% in 2023.
Conclusion
Considering all these factors, Racine County, Wisconsin has an overall wealth index grade of B, making it about on par with Wisconsin, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Racine County, Wisconsin.
How Rich Is Racine County, Wisconsin?
Racine 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 $75,484, close to the Wisconsin average of $75,766.
What is the current median household income in Racine County, Wisconsin?
As of 2023, the median household income in Racine County, Wisconsin is $75,484.
What was the median household income in Racine County in 2023?
In 2023, the median household income in Racine County, Wisconsin was $75,484.
What was the median household income in Racine County in 2020?
In 2020, the median household income in Racine County, Wisconsin was $62,814.
What is the Gini coefficient in Racine County, Wisconsin?
The Gini coefficient in Racine 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 Racine County, Wisconsin?
Since 2009, the income gap between men and women in Racine County, Wisconsin has narrowed from about 27% to 17% in 2023. In dollar terms, the gap has narrowed by $2,031 since 2009.