Wealth Index
Among the top 5 wealthiest 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 | Morgan County | West Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $66,767 | $57,886 | $78,145 |
| Median Personal Income | $48,880 | $52,671 | $61,726 |
| Average income growth | 6.6% | 4.4% | 5.1% |
| Six-Figure Earners | 5.9% | 7.5% | 13.2% |
The median household income in Morgan County is about 15% higher than in West Virginia. Income has been growing faster in Morgan County (6.6%/yr) than in West Virginia (4.4%/yr).
About 6% of adults in Morgan 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 Morgan County, West Virginia grew by 71.0% from 2009 to 2023, reaching $66,767 in 2023. That's an average of about 6.6% per year.
Economic Inequality in Morgan County | Gender Pay Gap | Gini Coefficient
| Metric | Morgan County | West Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.515 | 0.560 | 0.570 |
| Male Median Income | $55,202 | $59,493 | $67,746 |
| Female Median Income | $41,772 | $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 Morgan County, it is 0.515, 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 32% more than women's income in Morgan County, West Virginia. Over a 35-year career, a 32% wage gap accumulates to roughly $470,050 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Morgan County, West Virginia has narrowed from about 33% to 24% in 2023. In dollar terms, the gap has widened by $33 since 2009.
Employment
| Metric | Morgan County | West Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.4% | 5.7% | 5.2% |
| Working from Home | 7.7% | 8.0% | 13.4% |
| Commute time (minutes) | 38 | 21 | 22 |
Approximately 289 people are unemployed in Morgan County, West Virginia.
The average commute time in Morgan County is 38 minutes, longer than the 21 minutes in West Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Morgan County, West Virginia has fallen from 12.0% to 3.4% in 2023.
Conclusion
Considering all these factors, Morgan County, West Virginia has an overall wealth index grade of C, making it somewhat better than West Virginia, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Morgan County, West Virginia.
How Rich Is Morgan County, West Virginia?
Morgan County has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $66,767, about 15% higher than the West Virginia average of $57,886.
What is the current median household income in Morgan County, West Virginia?
As of 2023, the median household income in Morgan County, West Virginia is $66,767.
What was the median household income in Morgan County in 2023?
In 2023, the median household income in Morgan County, West Virginia was $66,767.
What was the median household income in Morgan County in 2020?
In 2020, the median household income in Morgan County, West Virginia was $58,657.
What is the Gini coefficient in Morgan County, West Virginia?
The Gini coefficient in Morgan County is 0.515. 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 Morgan County, West Virginia?
Since 2009, the income gap between men and women in Morgan County, West Virginia has narrowed from about 33% to 24% in 2023. In dollar terms, the gap has widened by $33 since 2009.