Wealth Index
Among the top 3 wealthiest 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 | Gilpin County | Colorado Avg | US Average |
|---|---|---|---|
| Median Household Income | $91,597 | $93,055 | $78,145 |
| Median Personal Income | $79,702 | $69,173 | $61,726 |
| Average income growth | 5.4% | 5.8% | 5.1% |
| Six-Figure Earners | 22.7% | 17.0% | 13.2% |
The median household income in Gilpin County is about 2% lower than in Colorado. Income has been growing slower in Gilpin County (5.4%/yr) than in Colorado (5.8%/yr).
About 23% of adults in Gilpin County 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 Gilpin County, Colorado grew by 61.4% from 2009 to 2023, reaching $91,597 in 2023. That's an average of about 5.4% per year.
Economic Inequality in Gilpin County | Gender Pay Gap | Gini Coefficient
| Metric | Gilpin County | Colorado Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.465 | 0.547 | 0.570 |
| Male Median Income | $107,565 | $75,396 | $67,746 |
| Female Median Income | $57,322 | $61,821 | $54,793 |
| Gender Pay Gap | 46.7% | 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 Gilpin County, it is 0.465, 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 88% more than women's income in Gilpin County, Colorado. Over a 35-year career, a 88% wage gap accumulates to roughly $1,758,505 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Gilpin County, Colorado has widened from about 17% to 47% in 2023. In dollar terms, the gap has widened by $42,026 since 2009.
Employment
| Metric | Gilpin County | Colorado Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.0% | 4.4% | 5.2% |
| Working from Home | 14.6% | 18.8% | 13.4% |
| Commute time (minutes) | 27 | 22 | 22 |
Approximately 107 people are unemployed in Gilpin County, Colorado.
The average commute time in Gilpin County is 27 minutes, longer than the 22 minutes in Colorado.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Gilpin County, Colorado has fallen from 4.5% to 3.0% in 2023.
Conclusion
Considering all these factors, Gilpin County, 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 Gilpin County, Colorado.
How Rich Is Gilpin County, Colorado?
Gilpin County 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 $91,597, about 2% lower than the Colorado average of $93,055.
What is the current median household income in Gilpin County, Colorado?
As of 2023, the median household income in Gilpin County, Colorado is $91,597.
What was the median household income in Gilpin County in 2023?
In 2023, the median household income in Gilpin County, Colorado was $91,597.
What was the median household income in Gilpin County in 2020?
In 2020, the median household income in Gilpin County, Colorado was $91,345.
What is the Gini coefficient in Gilpin County, Colorado?
The Gini coefficient in Gilpin County is 0.465. 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 Gilpin County, Colorado?
Since 2009, the income gap between men and women in Gilpin County, Colorado has widened from about 17% to 47% in 2023. In dollar terms, the gap has widened by $42,026 since 2009.