Wealth Index
Less wealthy than 78% of 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 | Lincoln County | West Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $48,285 | $57,886 | $78,145 |
| Median Personal Income | $50,415 | $52,671 | $61,726 |
| Average income growth | 4.4% | 4.4% | 5.1% |
| Six-Figure Earners | 5.8% | 7.5% | 13.2% |
The median household income in Lincoln County is about 17% lower than in West Virginia. Income has been growing slower in Lincoln County (4.4%/yr) than in West Virginia (4.4%/yr).
About 6% of adults in Lincoln 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 Lincoln County, West Virginia grew by 64.8% from 2009 to 2023, reaching $48,285 in 2023. That's an average of about 4.4% per year.
Economic Inequality in Lincoln County | Gender Pay Gap | Gini Coefficient
| Metric | Lincoln County | West Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.558 | 0.560 | 0.570 |
| Male Median Income | $59,932 | $59,493 | $67,746 |
| Female Median Income | $42,922 | $45,763 | $54,793 |
| Gender Pay Gap | 28.4% | 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 Lincoln County, it is 0.558, about the same as West Virginia's 0.560, so income here is about as evenly distributed as there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 40% more than women's income in Lincoln County, West Virginia. Over a 35-year career, a 40% wage gap accumulates to roughly $595,350 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Lincoln County, West Virginia has narrowed from about 48% to 28% in 2023. In dollar terms, the gap has narrowed by $3,713 since 2009.
Employment
| Metric | Lincoln County | West Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.1% | 5.7% | 5.2% |
| Working from Home | 8.6% | 8.0% | 13.4% |
| Commute time (minutes) | 30 | 21 | 22 |
Approximately 429 people are unemployed in Lincoln County, West Virginia.
The average commute time in Lincoln County is 30 minutes, longer than the 21 minutes in West Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Lincoln County, West Virginia has fallen from 9.9% to 6.1% in 2023.
Conclusion
Considering all these factors, Lincoln 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 Lincoln County, West Virginia.
How Rich Is Lincoln County, West Virginia?
Lincoln 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 $48,285, about 17% lower than the West Virginia average of $57,886.
What is the current median household income in Lincoln County, West Virginia?
As of 2023, the median household income in Lincoln County, West Virginia is $48,285.
What was the median household income in Lincoln County in 2023?
In 2023, the median household income in Lincoln County, West Virginia was $48,285.
What was the median household income in Lincoln County in 2020?
In 2020, the median household income in Lincoln County, West Virginia was $41,540.
What is the Gini coefficient in Lincoln County, West Virginia?
The Gini coefficient in Lincoln County is 0.558. 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 Lincoln County, West Virginia?
Since 2009, the income gap between men and women in Lincoln County, West Virginia has narrowed from about 48% to 28% in 2023. In dollar terms, the gap has narrowed by $3,713 since 2009.