Wealth Index
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 | Arvada | Colorado Avg | US Average |
|---|---|---|---|
| Median Household Income | $107,879 | $93,055 | $78,145 |
| Median Personal Income | $76,820 | $69,173 | $61,726 |
| Average income growth | 6.5% | 5.8% | 5.1% |
| Six-Figure Earners | 19.5% | 17.0% | 13.2% |
The median household income in Arvada is about 16% higher than in Colorado. Income has been growing faster in Arvada (6.5%/yr) than in Colorado (5.8%/yr).
About 20% of adults in Arvada earn six figures ($100,000 or more) a year, higher than the Colorado average of 17%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Arvada, Colorado grew by 69.1% from 2009 to 2023, reaching $107,879 in 2023. That's an average of about 6.5% per year.
Economic Inequality in Arvada | Gender Pay Gap | Gini Coefficient
| Metric | Arvada | Colorado Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.509 | 0.547 | 0.570 |
| Male Median Income | $84,643 | $75,396 | $67,746 |
| Female Median Income | $68,047 | $61,821 | $54,793 |
| Gender Pay Gap | 19.6% | 18.0% | 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 Arvada, it is 0.509, lower than Colorado's 0.547, 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 24% more than women's income in Arvada, Colorado. Over a 35-year career, a 24% wage gap accumulates to roughly $580,860 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Arvada, Colorado has narrowed from about 21% to 20% in 2023. In dollar terms, the gap has widened by $5,296 since 2009.
Employment
| Metric | Arvada | Colorado Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.8% | 4.4% | 5.2% |
| Working from Home | 21.0% | 18.8% | 13.4% |
| Commute time (minutes) | 23 | 22 | 22 |
Approximately 2,425 people are unemployed in Arvada, Colorado.
The average commute time in Arvada is 23 minutes, longer than the 22 minutes in Colorado.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Arvada, Colorado has fallen from 7.9% to 3.8% in 2023.
Conclusion
Considering all these factors, Arvada, Colorado has an overall wealth index grade of B, making it somewhat better than Colorado, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Arvada, Colorado.
How Wealthy Is Arvada, Colorado?
Arvada has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $107,879, about 16% higher than the Colorado average of $93,055.
What is the current median household income in Arvada, Colorado?
As of 2023, the median household income in Arvada, Colorado is $107,879.
What was the median household income in Arvada in 2023?
In 2023, the median household income in Arvada, Colorado was $107,879.
What was the median household income in Arvada in 2020?
In 2020, the median household income in Arvada, Colorado was $88,982.
What is the Gini coefficient in Arvada, Colorado?
The Gini coefficient in Arvada is 0.509. 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 Arvada, Colorado?
Since 2009, the income gap between men and women in Arvada, Colorado has narrowed from about 21% to 20% in 2023. In dollar terms, the gap has widened by $5,296 since 2009.