Wealth Index
Among the 3 least wealthy states in US
The wealth index reflects the overall economic prosperity and financial well-being of a state's residents based on income levels, employment rates, and income inequality metrics.
Wealthiest and Least Wealthy Counties in West Virginia
- Jefferson County (111% of U.S. avg)
- Berkeley County (103% of U.S. avg)
- Putnam County (102% of U.S. avg)
- McDowell County (62% of U.S. avg)
- Gilmer County (68% of U.S. avg)
- Clay County (72% of U.S. avg)
Ranked by the Map AI Wealth Index, which combines income, employment, and income inequality metrics.
Income Statistics Overview
| Metric | West Virginia | US Average |
|---|---|---|
| Median Household Income | $57,886 | $78,145 |
| Median Personal Income | $52,671 | $61,726 |
| Average income growth | 4.4% | 5.1% |
| Six-Figure Earners | 7.5% | 13.2% |
The median household income in West Virginia is about 26% lower than in US. Income has been growing slower in West Virginia (4.4%/yr) than in US (5.1%/yr).
About 7% of adults in West Virginia earn six figures ($100,000 or more) a year, lower than the US average of 13%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in West Virginia grew by 54.9% from 2009 to 2023, reaching $57,886 in 2023. That's an average of about 4.4% per year.
Economic Inequality in West Virginia | Gender Pay Gap | Gini Coefficient
| Metric | West Virginia | US Average |
|---|---|---|
| Gini Coefficient | 0.560 | 0.570 |
| Male Median Income | $59,493 | $67,746 |
| Female Median Income | $45,763 | $54,793 |
| Gender Pay Gap | 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 West Virginia, it is 0.560, lower than US's 0.570, so income is more evenly distributed here than there.
Men's income is about 30% more than women's income in West Virginia. Over a 35-year career, a 30% wage gap accumulates to roughly $480,550 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in West Virginia has narrowed from about 31% to 23% in 2023. In dollar terms, the gap has widened by $723 since 2009.
Employment
| Metric | West Virginia | US Average |
|---|---|---|
| Unemployment Rate | 5.7% | 5.2% |
| Working from Home | 8.0% | 13.4% |
| Commute time (minutes) | 21 | 22 |
Approximately 45,014 people are unemployed in West Virginia.
The average commute time in West Virginia is 21 minutes, shorter than the 22 minutes in US.
Unemployment Rate Over Time
Since 2011, the unemployment rate in West Virginia has fallen from 7.5% to 5.7% in 2023.
Conclusion
Considering all these factors, West Virginia has an overall wealth index grade of D, making it somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in West Virginia.
How Rich Is West Virginia?
West Virginia 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 $57,886, about 26% lower than the US average of $78,145.
What is the current median household income in West Virginia?
As of 2023, the median household income in West Virginia is $57,886.
What was the median household income in West Virginia in 2023?
In 2023, the median household income in West Virginia was $57,886.
What was the median household income in West Virginia in 2020?
In 2020, the median household income in West Virginia was $48,098.
What is the Gini coefficient in West Virginia?
The Gini coefficient in West Virginia is 0.560. 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 West Virginia?
Since 2009, the income gap between men and women in West Virginia has narrowed from about 31% to 23% in 2023. In dollar terms, the gap has widened by $723 since 2009.