Fort Wright Kentucky Income Charts

This section shows the Fort Wright Kentucky economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Fort Wright indicates it has a Median earnings of $57,699 which is in the mid range of other places in the local area. The city with the highest median earnings per worker in the area is Crescent Springs which shows a median earnings of $69,239 (20.0% larger). Comparing median earnings per worker to the United States average of $53,269, Fort Wright is 8.3% larger. Also, measured against the state of Kentucky, median earnings per worker of $46,067, Fort Wright is 25.3% larger.

In Figure 2 a more complete view of income is shown which aggregates income from all members in the household and it has a Median household income of $87,197 which is the second most median income of all the places in the greater Fort Wright region. The city with the highest median household income in the area is Lakeside Park which depicts a median income of $97,306 (11.6% larger). Comparing median household income to the United States average of $69,021, Fort Wright is 26.3% larger. Also, measured against the state of Kentucky, median household income of $55,454, Fort Wright is 57.2% larger.

The next section examines a variety of different income statistics for the Fort Wright metropolitan area. In Figure 3 we see that it has the percentage of earnings less than $10,000 the second smallest when ranked by median earnings of less than $10,000 of all the other places in the surrounding region at 4.6% of the total.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 37.9 which is the smallest when ranked by average hours of all the other places in the surrounding region. The city with the highest average hours in the area is Lakeside Park which depicts an average hours of 40.9 (7.9% larger). Dividing median annual worker earnings by the average number of hours worked in a year in Figure 6 shows that it has a Avg Hrly Earnings of $29.28 which is the third most average hourly earnings of all other places in the greater Fort Wright region. The city with the highest average hourly earnings in the area is Crescent Springs which depicts an average hourly earnings of $32.80 (12.0% larger). Comparing average hourly earnings to the United States average of $26.40, Fort Wright is 10.9% larger. Also, versus the state of Kentucky, average hourly earnings of $22.72, Fort Wright is 28.9% larger.

Figure 7 examines the number of self employed people in the Fort Wright metro area based on the number of people who reported any self employment income. Fort Wright depicts it has a Self Employed of 7.4% which is less than most other places in the metro area. The city with the highest percentage of people self employed in the area is Lakeside Park which shows a percentage self employed of 13.4% (about twice as large).

Turning our attention to Figure 8, the median household income by age group, it has one of the largest proportions of median income-under 25 years at $113,438 of the total and is ranked #2. The only larger city being Lakeside Park with $120,625. Second, it has one of the largest proportions of median income-25 to 44 years at $79,531 of the total and is ranked #2. The only larger city being Lakeside Park with $110,893. Third, it has the largest proportion of median income-45 to 64 years at $85,720 of the total and is ranked #1.

Figure 9 breaks down the source of income and Fort Wright has the largest proportion of self employment income at 17.1% of the total and is ranked #1.

The next chart (Figure 11) shows the percentage of households that had retirement income over the last 12 months and it has a With Retirement Income of 26.2% which is in the middle range of other places in the local area. The city with the highest households with retirement income in the area is Kenton Vale which depicts a households with retirement income of 38.1% (45.7% larger).

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and has the percentage of overall family income in the middle range of other places in the metropolitan area at $114,205 of the total.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Fort Wright depicts it has the hightest cost of 100.2 for the cost of utilities aggregate.

Fort Wright Kentucky Labor Force Charts

The next two charts look at monthly trended employment related performance using data estimated by economists at the Bureau of Labor Statistics (BLS). The BLS tracks unemployment statistics for a large number of areas throughout the country on a month to month basis. However, not every location in the U.S. is tracked by the BLS so the chart will only show the closest location available (which may be the same location.) Figure 14 shows the monthly unemployment rate for the area as well as a comparison to the overall national economy measure for the United States. Note that in March to April 2022, the Covid 19 recession occurred and affects this metric. The monthly unemployment rate shows that from February 2017 to before the Coronavirus Pandemic it went from 5.8% to 3.7% in December 2019. This represents a decrease in the monthly unemployment rate of 36.2%. Since that time, the monthly unemployment rate has gone to 3.7%. This represents an increase in the monthly unemployment rate of very little. In Figure 15 the monthly labor force participation which are people actively looking for work are also defined as unemployed but do not include people who have given up looking for work. The monthly labor force participation shows that from January 2017 to before the Coronavirus Pandemic it went from 18,531 to 19,136 in November 2019. This represents an increase in the monthly labor force participation of 3.3%. Since that time, the monthly labor force participation has gone to 19,136. This represents an increase in the monthly labor force participation of very little.

The next two charts look at the annual unemployment rate/eligible for unemployment benefits and is based on the American Community survey. Figure 16 shows Fort Wright shows it has a Unemployment Rate of 1.7% which is in the mid point range of other places in the local area. The city with the highest unemployment rate in the area is Crescent Springs which depicts a rate of 5.1% (approximately 3.1 times bigger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Fort Wright depicts it has a Labor Force Participation of 65.9% which is less than most other places in the greater region.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Fort Wright shows full time employees approximately 3.3 times bigger as the part time employees.

The next employment related data item is shown in Figure 21 which is the percentage of families with only a single earner in the greater Fort Wright area. Fort Wright indicates it has a Single Earner Families of 24.2% which is the third most families with a single earner of all other places in the greater Fort Wright region. The city with the highest families with a single earner in the area is Lakeside Park which depicts a single earners rate of 31.3% (29.4% larger). The percentage of families with no one working is depicted in Figure 22. Fort Wright depicts it has a Families with No One Working of 27.3% which is the second most families with no one working of all the places in the greater Fort Wright region. The city with the highest families with no one working in the area is Kenton Vale which shows a families with no worker of 48.4% (77.3% larger).

Fort Wright Kentucky Poverty Charts

The next section details economy analysis about poverty for residents of the Fort Wright community. This performance can be enhanced by government programs such as economic opportunity zone to influence manufacturing, job growth, economic opportunity an hopefully lead to economic recovery after the recent Covid 19 recession. In Figure 23 the total number of people earning less than the poverty level are shown. Fort Wright shows it has a Total In Poverty of 257 which is in the mid point range of other places in the greater region. The city with the highest total people earning less than the poverty level in the area is Covington which depicts a total people earning less than the poverty level of 9,556 ( substantially bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Fort Wright depicts it has a Percent of Population In Poverty of 4.4% which is the third most percent of people earning less than the poverty level of all other places in the greater Fort Wright region. The city with the highest percent of people earning less than the poverty level in the area is Covington which shows a percent of people in poverty of 23.9% ( considerably bigger).

In Figure 25 people who are in poverty are broken out by age group. Fort Wright has one of the largest proportions of person in poverty under 12 years at 14% of the total and is ranked #2. The only larger city being Fort Mitchell with 16%. Second, it has in the mid point range of other places in the metro area when ranked by person in poverty 35 to 54 years at 9% of the total.

Figure 27 shows key poverty statistics for groups based on marriage status. Fort Wright has one of the largest proportions of married with children and in poverty at 6% of the total and is ranked #3. Only #2 Covington (51%), and #1 Park Hills (87%) are larger. Second, it has in the mid point range of other places in the metropolitan area in order of unmarried with children and in poverty at 6% of the total. Figure 29 looks at only those people who make less than the poverty level of income and breaks down there employment status. Fort Wright has the largest proportion of people who are in poverty and employed at 8.6% of the total and is ranked #1. Additionally, Figure 30 looks at the percentage of people who receive some form of public assistance including general assistance, temporary assistance or food stamps (i.e. SNAP.) Fort Wright depicts it has a Public Assistance Percent of 2.4% which is in the mid range of other places in the greater region. The city with the highest households with public assistance in the area is Covington which depicts a households with public assistance of 16.7% ( appreciably bigger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Fort Wright shows it has a Gini Index of 39.8% which is the second smallest when ranked by the gini index of all the other places in the local area.

Fort Wright Kentucky Work Commute Charts

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Fort Wright has the percentage of people with commute time of less than 5 minutesutes the second smallest when ranked by people with commute time of less than 5 minutes of all the other places in the metro area at 5% of the total. Second, it has one of the largest proportions of people with commute time between 5 to 9 minutes at 18% of the total and is ranked #3. Only #2 Kenton Vale (25%), and #1 Park Hills (27%) are larger. Third, it has the largest proportion of people with commute time between 15 to 19 minutes at 23% of the total and is ranked #1. Also, it has the second smallest in terms of people with commute time of less than 5 minutes of all the other places in the surrounding region in terms of people with commute time between 40 to 44 minutes at 2% of the total.

The average commute time is shown in Figure 37. Fort Wright shows it has a Avg Commute Time of 20 which is the second smallest as measured by average commute time of all the other places in the surrounding region. Figure 38 shows the difference between male versus female commuting time. Fort Wright shows average commute time in minutes for men 8.4% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Fort Wright has the smallest proportion of no vehicle available at 16% of the total. Second, it has one of the largest proportions of 1 vehicle available at 56% of the total and is ranked #2. The only larger city being Kenton Vale with 59%. Third, it has one of the largest proportions of 4 vehicles available at 3% of the total and is ranked #2. The only larger city being Park Hills with 4%. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Fort Wright depicts it has a Work in city or place where live of 20% which is the third most people who both work and live in the same city of all other places in the greater Fort Wright region. The city with the highest people who both work and live in the same city in the area is Covington which depicts a people who both work and live in the same city of 27% (37.9% larger). Comparing people who both work and live in the same city to the United States average of 44%, Fort Wright is approximately half the size. Also, measured against the state of Kentucky, people who both work and live in the same city of 53%, Fort Wright is approximately a third the size.

Fort Wright Kentucky Jobs Charts

The next to charts break out the median earnings for major job categories for men and women. Figure 46 shows the median earnings of men for the job categories. Fort Wright shows it has the hightest median earnings of $157,750 for the earnings-healthcare practitioners and tech occupations aggregate. Similarly, Figure 47 shows the median earnings of women for the job categories and Fort Wright shows it has the hightest median earnings of $101,346 for the earnings-computer, engineering, and science occupations category. The table in Figure 48, shows Fort Wright employment data in terms of job categories and salary data.

Fort Wright Kentucky Self Employment Charts

Figure 49 shows economic activity in terms of the number of people who are self employed in incorporated local business by industry. Fort Wright shows it has the hightest entrepreneurs of 73% for the self employed management, business, science, and arts businesses aggregate.

Similar to the last chart is Figure 50 which shows the number of people who are self employed but in more detailed industry categories such as manufacturing, retail sales, residential real estate, commercial real estate, health care, exports/imports, and advanced industries, etc. Fort Wright depicts it has the hightest entrepreneurs of 36% for the self employed in professional, scientific, management, administrative services category.

In Figure 51 the average annual self employment/entrepreneur income is shown. Fort Wright shows it has a Self Employment Income of $28,423 which is the third most average annual self employment income of all other places in the greater Fort Wright region. The city with the highest average annual self employment income in the area is Crescent Springs which shows an average annual self employment income of $63,843 (approximately 2.2 times bigger). Comparing average annual self employment income to the United States average of $42,141, Fort Wright is approximately three-fourths the size. Also, compared to the state of Kentucky, average annual self employment income of $34,912, Fort Wright is about 22.8% smaller.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Fort Wright shows total number of self-employed men approximately 3.8 times bigger as the total number of self-employed women.