Wealth Index
Among the 3 least wealthy counties in Arizona
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 | La Paz County | Arizona Avg | US Average |
|---|---|---|---|
| Median Household Income | $49,704 | $77,100 | $78,145 |
| Median Personal Income | $49,414 | $58,256 | $61,726 |
| Average income growth | 4.7% | 5.9% | 5.1% |
| Six-Figure Earners | 5.4% | 11.7% | 13.2% |
The median household income in La Paz County is about 36% lower than in Arizona. Income has been growing slower in La Paz County (4.7%/yr) than in Arizona (5.9%/yr).
About 5% of adults in La Paz County earn six figures ($100,000 or more) a year, lower than the Arizona average of 12%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in La Paz County, Arizona grew by 56.0% from 2009 to 2023, reaching $49,704 in 2023. That's an average of about 4.7% per year.
Economic Inequality in La Paz County | Gender Pay Gap | Gini Coefficient
| Metric | La Paz County | Arizona Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.540 | 0.571 | 0.570 |
| Male Median Income | $52,181 | $63,179 | $67,746 |
| Female Median Income | $46,929 | $52,803 | $54,793 |
| Gender Pay Gap | 10.1% | 16.4% | 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 La Paz County, it is 0.540, lower than Arizona's 0.571, 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 11% more than women's income in La Paz County, Arizona. Over a 35-year career, a 11% wage gap accumulates to roughly $183,820 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in La Paz County, Arizona has narrowed from about 15% to 10% in 2023. In dollar terms, the gap has widened by $41 since 2009.
Employment
| Metric | La Paz County | Arizona Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 10.8% | 5.1% | 5.2% |
| Working from Home | 10.5% | 16.5% | 13.4% |
| Commute time (minutes) | 8 | 22 | 22 |
Approximately 660 people are unemployed in La Paz County, Arizona.
The average commute time in La Paz County is 8 minutes, shorter than the 22 minutes in Arizona.
Unemployment Rate Over Time
Since 2011, the unemployment rate in La Paz County, Arizona has risen from 7.9% to 10.8% in 2023.
Conclusion
Considering all these factors, La Paz County, Arizona has an overall wealth index grade of D, making it somewhat worse than Arizona, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in La Paz County, Arizona.
How Rich Is La Paz County, Arizona?
La Paz 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 $49,704, about 36% lower than the Arizona average of $77,100.
What is the current median household income in La Paz County, Arizona?
As of 2023, the median household income in La Paz County, Arizona is $49,704.
What was the median household income in La Paz County in 2023?
In 2023, the median household income in La Paz County, Arizona was $49,704.
What was the median household income in La Paz County in 2020?
In 2020, the median household income in La Paz County, Arizona was $34,958.
What is the Gini coefficient in La Paz County, Arizona?
The Gini coefficient in La Paz County is 0.540. 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 La Paz County, Arizona?
Since 2009, the income gap between men and women in La Paz County, Arizona has narrowed from about 15% to 10% in 2023. In dollar terms, the gap has widened by $41 since 2009.