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 | Gunnison County | Colorado Avg | US Average |
|---|---|---|---|
| Median Household Income | $77,074 | $93,055 | $78,145 |
| Median Personal Income | $64,858 | $69,173 | $61,726 |
| Average income growth | 6.2% | 5.8% | 5.1% |
| Six-Figure Earners | 12.8% | 17.0% | 13.2% |
The median household income in Gunnison County is about 17% lower than in Colorado. Income has been growing faster in Gunnison County (6.2%/yr) than in Colorado (5.8%/yr).
About 13% of adults in Gunnison 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 Gunnison County, Colorado grew by 72.8% from 2009 to 2023, reaching $77,074 in 2023. That's an average of about 6.2% per year.
Economic Inequality in Gunnison County | Gender Pay Gap | Gini Coefficient
| Metric | Gunnison County | Colorado Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.545 | 0.547 | 0.570 |
| Male Median Income | $75,165 | $75,396 | $67,746 |
| Female Median Income | $54,668 | $61,821 | $54,793 |
| Gender Pay Gap | 27.3% | 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 Gunnison County, it is 0.545, about the same as Colorado's 0.547, so income here is about as evenly distributed as there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 37% more than women's income in Gunnison County, Colorado. Over a 35-year career, a 37% wage gap accumulates to roughly $717,395 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Gunnison County, Colorado has widened from about 4% to 27% in 2023. In dollar terms, the gap has widened by $19,082 since 2009.
Employment
| Metric | Gunnison County | Colorado Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.7% | 4.4% | 5.2% |
| Working from Home | 13.2% | 18.8% | 13.4% |
| Commute time (minutes) | 13 | 22 | 22 |
Approximately 395 people are unemployed in Gunnison County, Colorado.
The average commute time in Gunnison County is 13 minutes, shorter than the 22 minutes in Colorado.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Gunnison County, Colorado has fallen from 6.6% to 3.7% in 2023.
Conclusion
Considering all these factors, Gunnison County, Colorado has an overall wealth index grade of B, making it about on par with Colorado, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Gunnison County, Colorado.
How Rich Is Gunnison County, Colorado?
Gunnison 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 $77,074, about 17% lower than the Colorado average of $93,055.
What is the current median household income in Gunnison County, Colorado?
As of 2023, the median household income in Gunnison County, Colorado is $77,074.
What was the median household income in Gunnison County in 2023?
In 2023, the median household income in Gunnison County, Colorado was $77,074.
What was the median household income in Gunnison County in 2020?
In 2020, the median household income in Gunnison County, Colorado was $60,596.
What is the Gini coefficient in Gunnison County, Colorado?
The Gini coefficient in Gunnison County is 0.545. 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 Gunnison County, Colorado?
Since 2009, the income gap between men and women in Gunnison County, Colorado has widened from about 4% to 27% in 2023. In dollar terms, the gap has widened by $19,082 since 2009.