Wealth Index
Least wealthy 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 | McDowell County | West Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $29,979 | $57,886 | $78,145 |
| Median Personal Income | $42,695 | $52,671 | $61,726 |
| Average income growth | 2.7% | 4.4% | 5.1% |
| Six-Figure Earners | 1.8% | 7.5% | 13.2% |
The median household income in McDowell County is about 48% lower than in West Virginia. Income has been growing slower in McDowell County (2.7%/yr) than in West Virginia (4.4%/yr).
About 2% of adults in McDowell 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 McDowell County, West Virginia grew by 39.0% from 2009 to 2023, reaching $29,979 in 2023. That's an average of about 2.7% per year.
Economic Inequality in McDowell County | Gender Pay Gap | Gini Coefficient
| Metric | McDowell County | West Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.607 | 0.560 | 0.570 |
| Male Median Income | $47,944 | $59,493 | $67,746 |
| Female Median Income | $38,357 | $45,763 | $54,793 |
| Gender Pay Gap | 20.0% | 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 McDowell County, it is 0.607, 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 25% more than women's income in McDowell County, West Virginia. Over a 35-year career, a 25% wage gap accumulates to roughly $335,545 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in McDowell County, West Virginia has widened from about 17% to 20% in 2023. In dollar terms, the gap has widened by $4,483 since 2009.
Employment
| Metric | McDowell County | West Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 14.9% | 5.7% | 5.2% |
| Working from Home | 5.9% | 8.0% | 13.4% |
| Commute time (minutes) | 31 | 21 | 22 |
Approximately 656 people are unemployed in McDowell County, West Virginia.
The average commute time in McDowell County is 31 minutes, longer than the 21 minutes in West Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in McDowell County, West Virginia has risen from 9.2% to 14.9% in 2023.
Conclusion
Considering all these factors, McDowell 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 McDowell County, West Virginia.
How Rich Is McDowell County, West Virginia?
McDowell 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 $29,979, about 48% lower than the West Virginia average of $57,886.
What is the current median household income in McDowell County, West Virginia?
As of 2023, the median household income in McDowell County, West Virginia is $29,979.
What was the median household income in McDowell County in 2023?
In 2023, the median household income in McDowell County, West Virginia was $29,979.
What was the median household income in McDowell County in 2020?
In 2020, the median household income in McDowell County, West Virginia was $25,901.
What is the Gini coefficient in McDowell County, West Virginia?
The Gini coefficient in McDowell County is 0.607. 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 McDowell County, West Virginia?
Since 2009, the income gap between men and women in McDowell County, West Virginia has widened from about 17% to 20% in 2023. In dollar terms, the gap has widened by $4,483 since 2009.