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 | Wood County | Wisconsin Avg | US Average |
|---|---|---|---|
| Median Household Income | $65,711 | $75,766 | $78,145 |
| Median Personal Income | $54,288 | $60,217 | $61,726 |
| Average income growth | 4.0% | 4.7% | 5.1% |
| Six-Figure Earners | 7.0% | 10.6% | 13.2% |
The median household income in Wood County is about 13% lower than in Wisconsin. Income has been growing slower in Wood County (4.0%/yr) than in Wisconsin (4.7%/yr).
About 7% of adults in Wood County earn six figures ($100,000 or more) a year, lower than the Wisconsin average of 11%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Wood County, Wisconsin grew by 37.4% from 2009 to 2023, reaching $65,711 in 2023. That's an average of about 4.0% per year.
Economic Inequality in Wood County | Gender Pay Gap | Gini Coefficient
| Metric | Wood County | Wisconsin Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.486 | 0.516 | 0.570 |
| Male Median Income | $61,358 | $65,881 | $67,746 |
| Female Median Income | $47,387 | $53,174 | $54,793 |
| Gender Pay Gap | 22.8% | 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 Wood County, it is 0.486, lower than Wisconsin's 0.516, 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 29% more than women's income in Wood County, Wisconsin. Over a 35-year career, a 29% wage gap accumulates to roughly $488,985 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Wood County, Wisconsin has narrowed from about 31% to 23% in 2023. In dollar terms, the gap has widened by $76 since 2009.
Employment
| Metric | Wood County | Wisconsin Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.3% | 3.3% | 5.2% |
| Working from Home | 9.1% | 11.6% | 13.4% |
| Commute time (minutes) | 16 | 18 | 22 |
Approximately 1,608 people are unemployed in Wood County, Wisconsin.
The average commute time in Wood County is 16 minutes, shorter than the 18 minutes in Wisconsin.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Wood County, Wisconsin has fallen from 6.9% to 4.3% in 2023.
Conclusion
Considering all these factors, Wood 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 Wood County, Wisconsin.
How Rich Is Wood County, Wisconsin?
Wood 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 $65,711, about 13% lower than the Wisconsin average of $75,766.
What is the current median household income in Wood County, Wisconsin?
As of 2023, the median household income in Wood County, Wisconsin is $65,711.
What was the median household income in Wood County in 2023?
In 2023, the median household income in Wood County, Wisconsin was $65,711.
What was the median household income in Wood County in 2020?
In 2020, the median household income in Wood County, Wisconsin was $55,818.
What is the Gini coefficient in Wood County, Wisconsin?
The Gini coefficient in Wood County is 0.486. 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 Wood County, Wisconsin?
Since 2009, the income gap between men and women in Wood County, Wisconsin has narrowed from about 31% to 23% in 2023. In dollar terms, the gap has widened by $76 since 2009.