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 | Broomfield | Colorado Avg | US Average |
|---|---|---|---|
| Median Household Income | $120,846 | $93,055 | $78,145 |
| Median Personal Income | $87,793 | $69,173 | $61,726 |
| Average income growth | 5.3% | 5.8% | 5.1% |
| Six-Figure Earners | 25.2% | 17.0% | 13.2% |
The median household income in Broomfield is about 30% higher than in Colorado. Income has been growing slower in Broomfield (5.3%/yr) than in Colorado (5.8%/yr).
About 25% of adults in Broomfield 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 Broomfield, Colorado grew by 45.5% from 2009 to 2023, reaching $120,846 in 2023. That's an average of about 5.3% per year.
Economic Inequality in Broomfield | Gender Pay Gap | Gini Coefficient
| Metric | Broomfield | Colorado Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.517 | 0.547 | 0.570 |
| Male Median Income | $99,798 | $75,396 | $67,746 |
| Female Median Income | $75,681 | $61,821 | $54,793 |
| Gender Pay Gap | 24.2% | 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 Broomfield, it is 0.517, 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 32% more than women's income in Broomfield, Colorado. Over a 35-year career, a 32% wage gap accumulates to roughly $844,095 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Broomfield, Colorado has narrowed from about 26% to 24% in 2023. In dollar terms, the gap has widened by $7,958 since 2009.
Employment
| Metric | Broomfield | Colorado Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.2% | 4.4% | 5.2% |
| Working from Home | 26.9% | 18.8% | 13.4% |
| Commute time (minutes) | 23 | 22 | 22 |
Approximately 1,414 people are unemployed in Broomfield, Colorado.
The average commute time in Broomfield is 23 minutes, longer than the 22 minutes in Colorado.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Broomfield, Colorado has fallen from 6.5% to 3.2% in 2023.
Conclusion
Considering all these factors, Broomfield, Colorado has an overall wealth index grade of A, making it somewhat better than Colorado, and notably better than the country as a whole.
Broomfield, CO Wealth Compared With Nearby Cities
Broomfield, CO is the 2nd largest of the 4 cities compared here, 74,746 residents against a local median of 36,977. Where Broomfield, CO breaks from the cities next to it is median household income, sitting 20% above the local median of $100,634 at $120,846. That is the better end of the local range on this measure.
The cities themselves spread $82,852 on median household income, so Broomfield, CO sits at one end of an already wide local range rather than apart from it. Broomfield, CO has the 2nd highest median household income of the 4 areas compared here.
| Area | Population | Median household income | Unemployment | Income inequality |
|---|---|---|---|---|
| Broomfield, CO | 74,746 | $120,846 #2/4 | 3.2% #1/4 | 0.5 #3/4 |
| Westminster, CO | 114,227 | $100,634 | 3.8% | 0.5 |
| Northglenn, CO | 36,977 | $79,491 | 4.8% | 0.5 |
| Erie, CO | 24,310 | $162,343 | 3.7% | 0.5 |
Frequently Asked Questions
Common questions about income and wealth in Broomfield, Colorado.
How Rich Is Broomfield, Colorado?
Broomfield has a wealth index grade of A. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an A grade means residents are much better off than the U.S. average. The median household income is $120,846, about 30% higher than the Colorado average of $93,055.
What is the current median household income in Broomfield, Colorado?
As of 2023, the median household income in Broomfield, Colorado is $120,846.
What was the median household income in Broomfield in 2023?
In 2023, the median household income in Broomfield, Colorado was $120,846.
What was the median household income in Broomfield in 2020?
In 2020, the median household income in Broomfield, Colorado was $101,793.
What is the Gini coefficient in Broomfield, Colorado?
The Gini coefficient in Broomfield is 0.517. 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 Broomfield, Colorado?
Since 2009, the income gap between men and women in Broomfield, Colorado has narrowed from about 26% to 24% in 2023. In dollar terms, the gap has widened by $7,958 since 2009.