Wealth Index
Wealthier than 78% 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 | Grand County | Colorado Avg | US Average |
|---|---|---|---|
| Median Household Income | $85,257 | $93,055 | $78,145 |
| Median Personal Income | $57,214 | $69,173 | $61,726 |
| Average income growth | 3.9% | 5.8% | 5.1% |
| Six-Figure Earners | 14.3% | 17.0% | 13.2% |
The median household income in Grand County is about 8% lower than in Colorado. Income has been growing slower in Grand County (3.9%/yr) than in Colorado (5.8%/yr).
About 14% of adults in Grand 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 Grand County, Colorado grew by 45.8% from 2009 to 2023, reaching $85,257 in 2023. That's an average of about 3.9% per year.
Economic Inequality in Grand County | Gender Pay Gap | Gini Coefficient
| Metric | Grand County | Colorado Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.508 | 0.547 | 0.570 |
| Male Median Income | $62,186 | $75,396 | $67,746 |
| Female Median Income | $48,901 | $61,821 | $54,793 |
| Gender Pay Gap | 21.4% | 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 Grand County, it is 0.508, 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 27% more than women's income in Grand County, Colorado. Over a 35-year career, a 27% wage gap accumulates to roughly $464,975 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Grand County, Colorado has widened from about 19% to 21% in 2023. In dollar terms, the gap has widened by $5,480 since 2009.
Employment
| Metric | Grand County | Colorado Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.4% | 4.4% | 5.2% |
| Working from Home | 21.7% | 18.8% | 13.4% |
| Commute time (minutes) | 18 | 22 | 22 |
Approximately 413 people are unemployed in Grand County, Colorado.
The average commute time in Grand County is 18 minutes, shorter than the 22 minutes in Colorado.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Grand County, Colorado has risen from 4.0% to 4.4% in 2023.
Conclusion
Considering all these factors, Grand County, Colorado has an overall wealth index grade of B, making it somewhat better than Colorado, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Grand County, Colorado.
How Rich Is Grand County, Colorado?
Grand County has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $85,257, about 8% lower than the Colorado average of $93,055.
What is the current median household income in Grand County, Colorado?
As of 2023, the median household income in Grand County, Colorado is $85,257.
What was the median household income in Grand County in 2023?
In 2023, the median household income in Grand County, Colorado was $85,257.
What was the median household income in Grand County in 2020?
In 2020, the median household income in Grand County, Colorado was $69,548.
What is the Gini coefficient in Grand County, Colorado?
The Gini coefficient in Grand County is 0.508. 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 Grand County, Colorado?
Since 2009, the income gap between men and women in Grand County, Colorado has widened from about 19% to 21% in 2023. In dollar terms, the gap has widened by $5,480 since 2009.