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 | Grand Junction | Colorado Avg | US Average |
|---|---|---|---|
| Median Household Income | $63,247 | $93,055 | $78,145 |
| Median Personal Income | $56,634 | $69,173 | $61,726 |
| Average income growth | 5.2% | 5.8% | 5.1% |
| Six-Figure Earners | 8.7% | 17.0% | 13.2% |
The median household income in Grand Junction is about 32% lower than in Colorado. Income has been growing slower in Grand Junction (5.2%/yr) than in Colorado (5.8%/yr).
About 9% of adults in Grand Junction 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 Junction, Colorado grew by 39.7% from 2009 to 2023, reaching $63,247 in 2023. That's an average of about 5.2% per year.
Economic Inequality in Grand Junction | Gender Pay Gap | Gini Coefficient
| Metric | Grand Junction | Colorado Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.540 | 0.547 | 0.570 |
| Male Median Income | $62,201 | $75,396 | $67,746 |
| Female Median Income | $49,310 | $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 Grand Junction, it is 0.540, 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 26% more than women's income in Grand Junction, Colorado. Over a 35-year career, a 26% wage gap accumulates to roughly $451,185 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 Junction, Colorado has narrowed from about 26% to 21% in 2023. In dollar terms, the gap has widened by $1,562 since 2009.
Employment
| Metric | Grand Junction | Colorado Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.1% | 4.4% | 5.2% |
| Working from Home | 12.5% | 18.8% | 13.4% |
| Commute time (minutes) | 13 | 22 | 22 |
Approximately 1,663 people are unemployed in Grand Junction, Colorado.
The average commute time in Grand Junction is 13 minutes, shorter than the 22 minutes in Colorado.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Grand Junction, Colorado has fallen from 6.7% to 5.1% in 2023.
Conclusion
Considering all these factors, Grand Junction, 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 Grand Junction, Colorado.
How Rich Is Grand Junction, Colorado?
Grand Junction 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 $63,247, about 32% lower than the Colorado average of $93,055.
What is the current median household income in Grand Junction, Colorado?
As of 2023, the median household income in Grand Junction, Colorado is $63,247.
What was the median household income in Grand Junction in 2023?
In 2023, the median household income in Grand Junction, Colorado was $63,247.
What was the median household income in Grand Junction in 2020?
In 2020, the median household income in Grand Junction, Colorado was $51,087.
What is the Gini coefficient in Grand Junction, Colorado?
The Gini coefficient in Grand Junction is 0.540. 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 Junction, Colorado?
Since 2009, the income gap between men and women in Grand Junction, Colorado has narrowed from about 26% to 21% in 2023. In dollar terms, the gap has widened by $1,562 since 2009.