Wealth Index
Among the 3 least wealthy counties in West Virginia
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 | Gilmer County | West Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $50,990 | $57,886 | $78,145 |
| Median Personal Income | $44,958 | $52,671 | $61,726 |
| Average income growth | 4.9% | 4.4% | 5.1% |
| Six-Figure Earners | 2.0% | 7.5% | 13.2% |
The median household income in Gilmer County is about 12% lower than in West Virginia. Income has been growing faster in Gilmer County (4.9%/yr) than in West Virginia (4.4%/yr).
About 2% of adults in Gilmer County earn six figures ($100,000 or more) a year, lower than the West Virginia average of 7%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Gilmer County, West Virginia grew by 107.3% from 2009 to 2023, reaching $50,990 in 2023. That's an average of about 4.9% per year.
Economic Inequality in Gilmer County | Gender Pay Gap | Gini Coefficient
| Metric | Gilmer County | West Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.620 | 0.560 | 0.570 |
| Male Median Income | $45,378 | $59,493 | $67,746 |
| Female Median Income | $44,697 | $45,763 | $54,793 |
| Gender Pay Gap | 1.5% | 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 Gilmer County, it is 0.620, 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 2% more than women's income in Gilmer County, West Virginia. Over a 35-year career, a 2% wage gap accumulates to roughly $23,835 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Gilmer County, West Virginia has narrowed from about 39% to 2% in 2023. In dollar terms, the gap has narrowed by $12,122 since 2009.
Employment
| Metric | Gilmer County | West Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 8.1% | 5.7% | 5.2% |
| Working from Home | 2.8% | 8.0% | 13.4% |
| Commute time (minutes) | 21 | 21 | 22 |
Approximately 186 people are unemployed in Gilmer County, West Virginia.
The average commute time in Gilmer County is 21 minutes, about the same as in West Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Gilmer County, West Virginia has risen from 4.7% to 8.1% in 2023.
Conclusion
Considering all these factors, Gilmer County, West Virginia has an overall wealth index grade of F, making it somewhat worse than West Virginia, and worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Gilmer County, West Virginia.
How Rich Is Gilmer County, West Virginia?
Gilmer County has a wealth index grade of F. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an F grade means residents are well below the U.S. average. The median household income is $50,990, about 12% lower than the West Virginia average of $57,886.
What is the current median household income in Gilmer County, West Virginia?
As of 2023, the median household income in Gilmer County, West Virginia is $50,990.
What was the median household income in Gilmer County in 2023?
In 2023, the median household income in Gilmer County, West Virginia was $50,990.
What was the median household income in Gilmer County in 2020?
In 2020, the median household income in Gilmer County, West Virginia was $42,233.
What is the Gini coefficient in Gilmer County, West Virginia?
The Gini coefficient in Gilmer County is 0.620. 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 Gilmer County, West Virginia?
Since 2009, the income gap between men and women in Gilmer County, West Virginia has narrowed from about 39% to 2% in 2023. In dollar terms, the gap has narrowed by $12,122 since 2009.