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 | Grant County | West Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $61,947 | $57,886 | $78,145 |
| Median Personal Income | $47,336 | $52,671 | $61,726 |
| Average income growth | 7.0% | 4.4% | 5.1% |
| Six-Figure Earners | 5.3% | 7.5% | 13.2% |
The median household income in Grant County is about 7% higher than in West Virginia. Income has been growing faster in Grant County (7.0%/yr) than in West Virginia (4.4%/yr).
About 5% of adults in Grant 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 Grant County, West Virginia grew by 80.7% from 2009 to 2023, reaching $61,947 in 2023. That's an average of about 7.0% per year.
Economic Inequality in Grant County | Gender Pay Gap | Gini Coefficient
| Metric | Grant County | West Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.522 | 0.560 | 0.570 |
| Male Median Income | $51,465 | $59,493 | $67,746 |
| Female Median Income | $37,704 | $45,763 | $54,793 |
| Gender Pay Gap | 26.7% | 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 Grant County, it is 0.522, lower than West Virginia's 0.560, 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 36% more than women's income in Grant County, West Virginia. Over a 35-year career, a 36% wage gap accumulates to roughly $481,635 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Grant County, West Virginia has narrowed from about 30% to 27% in 2023. In dollar terms, the gap has widened by $3,469 since 2009.
Employment
| Metric | Grant County | West Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.9% | 5.7% | 5.2% |
| Working from Home | 9.1% | 8.0% | 13.4% |
| Commute time (minutes) | 20 | 21 | 22 |
Approximately 255 people are unemployed in Grant County, West Virginia.
The average commute time in Grant County is 20 minutes, shorter than the 21 minutes in West Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Grant County, West Virginia has risen from 2.9% to 4.9% in 2023.
Conclusion
Considering all these factors, Grant County, West Virginia has an overall wealth index grade of D, making it somewhat better than West Virginia, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Grant County, West Virginia.
How Rich Is Grant County, West Virginia?
Grant 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 $61,947, about 7% higher than the West Virginia average of $57,886.
What is the current median household income in Grant County, West Virginia?
As of 2023, the median household income in Grant County, West Virginia is $61,947.
What was the median household income in Grant County in 2023?
In 2023, the median household income in Grant County, West Virginia was $61,947.
What was the median household income in Grant County in 2020?
In 2020, the median household income in Grant County, West Virginia was $43,705.
What is the Gini coefficient in Grant County, West Virginia?
The Gini coefficient in Grant County is 0.522. 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 Grant County, West Virginia?
Since 2009, the income gap between men and women in Grant County, West Virginia has narrowed from about 30% to 27% in 2023. In dollar terms, the gap has widened by $3,469 since 2009.