Wealth Index
Among the 5 least wealthy 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 | Fremont County | Colorado Avg | US Average |
|---|---|---|---|
| Median Household Income | $61,114 | $93,055 | $78,145 |
| Median Personal Income | $57,072 | $69,173 | $61,726 |
| Average income growth | 5.4% | 5.8% | 5.1% |
| Six-Figure Earners | 4.9% | 17.0% | 13.2% |
The median household income in Fremont County is about 34% lower than in Colorado. Income has been growing slower in Fremont County (5.4%/yr) than in Colorado (5.8%/yr).
About 5% of adults in Fremont 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 Fremont County, Colorado grew by 62.3% from 2009 to 2023, reaching $61,114 in 2023. That's an average of about 5.4% per year.
Economic Inequality in Fremont County | Gender Pay Gap | Gini Coefficient
| Metric | Fremont County | Colorado Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.632 | 0.547 | 0.570 |
| Male Median Income | $62,577 | $75,396 | $67,746 |
| Female Median Income | $49,625 | $61,821 | $54,793 |
| Gender Pay Gap | 20.7% | 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 Fremont County, it is 0.632, higher than Colorado's 0.547, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 26% more than women's income in Fremont County, Colorado. Over a 35-year career, a 26% wage gap accumulates to roughly $453,320 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Fremont County, Colorado has widened from about 19% to 21% in 2023. In dollar terms, the gap has widened by $5,221 since 2009.
Employment
| Metric | Fremont County | Colorado Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.4% | 4.4% | 5.2% |
| Working from Home | 12.3% | 18.8% | 13.4% |
| Commute time (minutes) | 16 | 22 | 22 |
Approximately 803 people are unemployed in Fremont County, Colorado.
The average commute time in Fremont County is 16 minutes, shorter than the 22 minutes in Colorado.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Fremont County, Colorado has fallen from 7.6% to 4.4% in 2023.
Conclusion
Considering all these factors, Fremont County, Colorado has an overall wealth index grade of D, making it worse than Colorado, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Fremont County, Colorado.
How Rich Is Fremont County, Colorado?
Fremont County has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $61,114, about 34% lower than the Colorado average of $93,055.
What is the current median household income in Fremont County, Colorado?
As of 2023, the median household income in Fremont County, Colorado is $61,114.
What was the median household income in Fremont County in 2023?
In 2023, the median household income in Fremont County, Colorado was $61,114.
What was the median household income in Fremont County in 2020?
In 2020, the median household income in Fremont County, Colorado was $53,158.
What is the Gini coefficient in Fremont County, Colorado?
The Gini coefficient in Fremont County is 0.632. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Fremont County, Colorado?
Since 2009, the income gap between men and women in Fremont County, Colorado has widened from about 19% to 21% in 2023. In dollar terms, the gap has widened by $5,221 since 2009.