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 | Cabell County | West Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $52,653 | $57,886 | $78,145 |
| Median Personal Income | $50,665 | $52,671 | $61,726 |
| Average income growth | 4.8% | 4.4% | 5.1% |
| Six-Figure Earners | 7.1% | 7.5% | 13.2% |
The median household income in Cabell County is about 9% lower than in West Virginia. Income has been growing faster in Cabell County (4.8%/yr) than in West Virginia (4.4%/yr).
About 7% of adults in Cabell County earn six figures ($100,000 or more) a year, about the same as the West Virginia average of 7%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Cabell County, West Virginia grew by 57.9% from 2009 to 2023, reaching $52,653 in 2023. That's an average of about 4.8% per year.
Economic Inequality in Cabell County | Gender Pay Gap | Gini Coefficient
| Metric | Cabell County | West Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.588 | 0.560 | 0.570 |
| Male Median Income | $56,300 | $59,493 | $67,746 |
| Female Median Income | $46,463 | $45,763 | $54,793 |
| Gender Pay Gap | 17.5% | 23.1% | 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 Cabell County, it is 0.588, higher than West Virginia's 0.560, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 21% more than women's income in Cabell County, West Virginia. Over a 35-year career, a 21% wage gap accumulates to roughly $344,295 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Cabell County, West Virginia has narrowed from about 27% to 17% in 2023. In dollar terms, the gap has narrowed by $1,001 since 2009.
Employment
| Metric | Cabell County | West Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.8% | 5.7% | 5.2% |
| Working from Home | 7.6% | 8.0% | 13.4% |
| Commute time (minutes) | 18 | 21 | 22 |
Approximately 2,514 people are unemployed in Cabell County, West Virginia.
The average commute time in Cabell County is 18 minutes, shorter than the 21 minutes in West Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Cabell County, West Virginia has fallen from 7.0% to 5.8% in 2023.
Conclusion
Considering all these factors, Cabell County, West Virginia has an overall wealth index grade of D, making it about on par with West Virginia, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Cabell County, West Virginia.
How Rich Is Cabell County, West Virginia?
Cabell County has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $52,653, about 9% lower than the West Virginia average of $57,886.
What is the current median household income in Cabell County, West Virginia?
As of 2023, the median household income in Cabell County, West Virginia is $52,653.
What was the median household income in Cabell County in 2023?
In 2023, the median household income in Cabell County, West Virginia was $52,653.
What was the median household income in Cabell County in 2020?
In 2020, the median household income in Cabell County, West Virginia was $41,657.
What is the Gini coefficient in Cabell County, West Virginia?
The Gini coefficient in Cabell County is 0.588. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Cabell County, West Virginia?
Since 2009, the income gap between men and women in Cabell County, West Virginia has narrowed from about 27% to 17% in 2023. In dollar terms, the gap has narrowed by $1,001 since 2009.