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 | Castle Rock | Colorado Avg | US Average |
|---|---|---|---|
| Median Household Income | $136,905 | $93,055 | $78,145 |
| Median Personal Income | $91,888 | $69,173 | $61,726 |
| Average income growth | 5.4% | 5.8% | 5.1% |
| Six-Figure Earners | 26.7% | 17.0% | 13.2% |
The median household income in Castle Rock is about 47% higher than in Colorado. Income has been growing slower in Castle Rock (5.4%/yr) than in Colorado (5.8%/yr).
About 27% of adults in Castle Rock 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 Castle Rock, Colorado grew by 63.5% from 2009 to 2023, reaching $136,905 in 2023. That's an average of about 5.4% per year.
Economic Inequality in Castle Rock | Gender Pay Gap | Gini Coefficient
| Metric | Castle Rock | Colorado Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.538 | 0.547 | 0.570 |
| Male Median Income | $110,052 | $75,396 | $67,746 |
| Female Median Income | $74,653 | $61,821 | $54,793 |
| Gender Pay Gap | 32.2% | 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 Castle Rock, it is 0.538, 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 47% more than women's income in Castle Rock, Colorado. Over a 35-year career, a 47% wage gap accumulates to roughly $1,238,965 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Castle Rock, Colorado has widened from about 28% to 32% in 2023. In dollar terms, the gap has widened by $17,104 since 2009.
Employment
| Metric | Castle Rock | Colorado Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.9% | 4.4% | 5.2% |
| Working from Home | 24.1% | 18.8% | 13.4% |
| Commute time (minutes) | 26 | 22 | 22 |
Approximately 1,216 people are unemployed in Castle Rock, Colorado.
The average commute time in Castle Rock is 26 minutes, longer than the 22 minutes in Colorado.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Castle Rock, Colorado has fallen from 6.2% to 4.9% in 2023.
Conclusion
Considering all these factors, Castle Rock, Colorado has an overall wealth index grade of A+, making it notably better than Colorado, and far better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Castle Rock, Colorado.
How Rich Is Castle Rock, Colorado?
Castle Rock 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 it is one of the most prosperous areas in the country. The median household income is $136,905, about 47% higher than the Colorado average of $93,055.
What is the current median household income in Castle Rock, Colorado?
As of 2023, the median household income in Castle Rock, Colorado is $136,905.
What was the median household income in Castle Rock in 2023?
In 2023, the median household income in Castle Rock, Colorado was $136,905.
What was the median household income in Castle Rock in 2020?
In 2020, the median household income in Castle Rock, Colorado was $110,510.
What is the Gini coefficient in Castle Rock, Colorado?
The Gini coefficient in Castle Rock is 0.538. 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 Castle Rock, Colorado?
Since 2009, the income gap between men and women in Castle Rock, Colorado has widened from about 28% to 32% in 2023. In dollar terms, the gap has widened by $17,104 since 2009.