Wealth Index
Less wealthy than 71% of counties in Colorado
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 | Custer County | Colorado Avg | US Average |
|---|---|---|---|
| Median Household Income | $72,006 | $93,055 | $78,145 |
| Median Personal Income | $62,278 | $69,173 | $61,726 |
| Average income growth | 9.7% | 5.8% | 5.1% |
| Six-Figure Earners | 10.8% | 17.0% | 13.2% |
The median household income in Custer County is about 23% lower than in Colorado. Income has been growing faster in Custer County (9.7%/yr) than in Colorado (5.8%/yr).
About 11% of adults in Custer County earn six figures ($100,000 or more) a year, lower than the Colorado average of 17%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Custer County, Colorado grew by 61.3% from 2009 to 2023, reaching $72,006 in 2023. That's an average of about 9.7% per year.
Economic Inequality in Custer County | Gender Pay Gap | Gini Coefficient
| Metric | Custer County | Colorado Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.491 | 0.547 | 0.570 |
| Male Median Income | $61,338 | $75,396 | $67,746 |
| Female Median Income | $65,000 | $61,821 | $54,793 |
| Gender Pay Gap | -6.0% | 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 Custer County, it is 0.491, 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.
Women's income is about 6% more than men's income in Custer County, Colorado. Over a 35-year career, a 6% wage gap accumulates to roughly $128,170 in unearned income for male workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Custer County, Colorado has narrowed from about 31% to -6% in 2023. In dollar terms, the gap has narrowed by $16,886 since 2009.
Employment
| Metric | Custer County | Colorado Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.6% | 4.4% | 5.2% |
| Working from Home | 17.9% | 18.8% | 13.4% |
| Commute time (minutes) | 30 | 22 | 22 |
Approximately 122 people are unemployed in Custer County, Colorado.
The average commute time in Custer County is 30 minutes, longer than the 22 minutes in Colorado.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Custer County, Colorado has fallen from 12.3% to 5.6% in 2023.
Conclusion
Considering all these factors, Custer County, Colorado has an overall wealth index grade of C, making it somewhat worse than Colorado, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Custer County, Colorado.
How Rich Is Custer County, Colorado?
Custer County has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $72,006, about 23% lower than the Colorado average of $93,055.
What is the current median household income in Custer County, Colorado?
As of 2023, the median household income in Custer County, Colorado is $72,006.
What was the median household income in Custer County in 2023?
In 2023, the median household income in Custer County, Colorado was $72,006.
What was the median household income in Custer County in 2020?
In 2020, the median household income in Custer County, Colorado was $60,469.
What is the Gini coefficient in Custer County, Colorado?
The Gini coefficient in Custer County is 0.491. 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 Custer County, Colorado?
Since 2009, the income gap between men and women in Custer County, Colorado has narrowed from about 31% to -6% in 2023. In dollar terms, the gap has narrowed by $16,886 since 2009.