Wealth Index
Wealthiest county 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 | Jefferson County | West Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $95,450 | $57,886 | $78,145 |
| Median Personal Income | $67,253 | $52,671 | $61,726 |
| Average income growth | 4.4% | 4.4% | 5.1% |
| Six-Figure Earners | 15.9% | 7.5% | 13.2% |
The median household income in Jefferson County is about 65% higher than in West Virginia. Income has been growing slower in Jefferson County (4.4%/yr) than in West Virginia (4.4%/yr).
About 16% of adults in Jefferson County earn six figures ($100,000 or more) a year, higher than the West Virginia average of 7%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Jefferson County, West Virginia grew by 48.9% from 2009 to 2023, reaching $95,450 in 2023. That's an average of about 4.4% per year.
Economic Inequality in Jefferson County | Gender Pay Gap | Gini Coefficient
| Metric | Jefferson County | West Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.567 | 0.560 | 0.570 |
| Male Median Income | $77,002 | $59,493 | $67,746 |
| Female Median Income | $58,268 | $45,763 | $54,793 |
| Gender Pay Gap | 24.3% | 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 Jefferson County, it is 0.567, higher than West Virginia's 0.560, so income is less evenly distributed here than there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 32% more than women's income in Jefferson County, West Virginia. Over a 35-year career, a 32% wage gap accumulates to roughly $655,690 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Jefferson County, West Virginia has narrowed from about 37% to 24% in 2023. In dollar terms, the gap has narrowed by $2,002 since 2009.
Employment
| Metric | Jefferson County | West Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.1% | 5.7% | 5.2% |
| Working from Home | 15.7% | 8.0% | 13.4% |
| Commute time (minutes) | 32 | 21 | 22 |
Approximately 1,248 people are unemployed in Jefferson County, West Virginia.
The average commute time in Jefferson County is 32 minutes, longer than the 21 minutes in West Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Jefferson County, West Virginia has fallen from 7.3% to 4.1% in 2023.
Conclusion
Considering all these factors, Jefferson County, West Virginia has an overall wealth index grade of B, making it notably better than West Virginia, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Jefferson County, West Virginia.
How Rich Is Jefferson County, West Virginia?
Jefferson 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 $95,450, about 65% higher than the West Virginia average of $57,886.
What is the current median household income in Jefferson County, West Virginia?
As of 2023, the median household income in Jefferson County, West Virginia is $95,450.
What was the median household income in Jefferson County in 2023?
In 2023, the median household income in Jefferson County, West Virginia was $95,450.
What was the median household income in Jefferson County in 2020?
In 2020, the median household income in Jefferson County, West Virginia was $83,372.
What is the Gini coefficient in Jefferson County, West Virginia?
The Gini coefficient in Jefferson County is 0.567. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Jefferson County, West Virginia?
Since 2009, the income gap between men and women in Jefferson County, West Virginia has narrowed from about 37% to 24% in 2023. In dollar terms, the gap has narrowed by $2,002 since 2009.