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 | Dakota Ridge | Colorado Avg | US Average |
|---|---|---|---|
| Median Household Income | $119,128 | $93,055 | $78,145 |
| Median Personal Income | $79,180 | $69,173 | $61,726 |
| Average income growth | 4.1% | 5.8% | 5.1% |
| Six-Figure Earners | 19.8% | 17.0% | 13.2% |
The median household income in Dakota Ridge is about 28% higher than in Colorado. Income has been growing slower in Dakota Ridge (4.1%/yr) than in Colorado (5.8%/yr).
About 20% of adults in Dakota Ridge 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 Dakota Ridge, Colorado grew by 48.5% from 2009 to 2023, reaching $119,128 in 2023. That's an average of about 4.1% per year.
Economic Inequality in Dakota Ridge | Gender Pay Gap | Gini Coefficient
| Metric | Dakota Ridge | Colorado Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.511 | 0.547 | 0.570 |
| Male Median Income | $87,414 | $75,396 | $67,746 |
| Female Median Income | $71,538 | $61,821 | $54,793 |
| Gender Pay Gap | 18.2% | 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 Dakota Ridge, it is 0.511, 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 22% more than women's income in Dakota Ridge, Colorado. Over a 35-year career, a 22% wage gap accumulates to roughly $555,660 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Dakota Ridge, Colorado has narrowed from about 20% to 18% in 2023. In dollar terms, the gap has widened by $4,160 since 2009.
Employment
| Metric | Dakota Ridge | Colorado Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.6% | 4.4% | 5.2% |
| Working from Home | 20.3% | 18.8% | 13.4% |
| Commute time (minutes) | 25 | 22 | 22 |
Approximately 510 people are unemployed in Dakota Ridge, Colorado.
The average commute time in Dakota Ridge is 25 minutes, longer than the 22 minutes in Colorado.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Dakota Ridge, Colorado has fallen from 5.7% to 2.6% in 2023.
Conclusion
Considering all these factors, Dakota Ridge, Colorado has an overall wealth index grade of A, making it somewhat better than Colorado, and notably better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Dakota Ridge, Colorado.
How Rich Is Dakota Ridge, Colorado?
Dakota Ridge 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 $119,128, about 28% higher than the Colorado average of $93,055.
What is the current median household income in Dakota Ridge, Colorado?
As of 2023, the median household income in Dakota Ridge, Colorado is $119,128.
What was the median household income in Dakota Ridge in 2023?
In 2023, the median household income in Dakota Ridge, Colorado was $119,128.
What was the median household income in Dakota Ridge in 2020?
In 2020, the median household income in Dakota Ridge, Colorado was $103,036.
What is the Gini coefficient in Dakota Ridge, Colorado?
The Gini coefficient in Dakota Ridge is 0.511. 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 Dakota Ridge, Colorado?
Since 2009, the income gap between men and women in Dakota Ridge, Colorado has narrowed from about 20% to 18% in 2023. In dollar terms, the gap has widened by $4,160 since 2009.