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 | Hinsdale County | Colorado Avg | US Average |
|---|---|---|---|
| Median Household Income | $68,289 | $93,055 | $78,145 |
| Median Personal Income | $50,625 | $69,173 | $61,726 |
| Average income growth | 5.6% | 5.8% | 5.1% |
| Six-Figure Earners | 15.3% | 17.0% | 13.2% |
The median household income in Hinsdale County is about 27% lower than in Colorado. Income has been growing slower in Hinsdale County (5.6%/yr) than in Colorado (5.8%/yr).
About 15% of adults in Hinsdale 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 Hinsdale County, Colorado grew by 27.6% from 2009 to 2023, reaching $68,289 in 2023. That's an average of about 5.6% per year.
Economic Inequality in Hinsdale County | Gender Pay Gap | Gini Coefficient
| Metric | Hinsdale County | Colorado Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.555 | 0.547 | 0.570 |
| Male Median Income | $51,521 | $75,396 | $67,746 |
| Female Median Income | $48,570 | $61,821 | $54,793 |
| Gender Pay Gap | 5.7% | 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 Hinsdale County, it is 0.555, higher than Colorado's 0.547, so income is less 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 6% more than women's income in Hinsdale County, Colorado. Over a 35-year career, a 6% wage gap accumulates to roughly $103,285 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Hinsdale County, Colorado has narrowed from about 30% to 6% in 2023. In dollar terms, the gap has narrowed by $7,231 since 2009.
Employment
| Metric | Hinsdale County | Colorado Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 1.5% | 4.4% | 5.2% |
| Working from Home | 17.2% | 18.8% | 13.4% |
| Commute time (minutes) | 6 | 22 | 22 |
Approximately 7 people are unemployed in Hinsdale County, Colorado.
The average commute time in Hinsdale County is 6 minutes, shorter than the 22 minutes in Colorado.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Hinsdale County, Colorado has fallen from 2.2% to 1.5% in 2023.
Conclusion
Considering all these factors, Hinsdale County, 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 Hinsdale County, Colorado.
How Rich Is Hinsdale County, Colorado?
Hinsdale County 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 $68,289, about 27% lower than the Colorado average of $93,055.
What is the current median household income in Hinsdale County, Colorado?
As of 2023, the median household income in Hinsdale County, Colorado is $68,289.
What was the median household income in Hinsdale County in 2023?
In 2023, the median household income in Hinsdale County, Colorado was $68,289.
What was the median household income in Hinsdale County in 2020?
In 2020, the median household income in Hinsdale County, Colorado was $39,568.
What is the Gini coefficient in Hinsdale County, Colorado?
The Gini coefficient in Hinsdale County is 0.555. 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 Hinsdale County, Colorado?
Since 2009, the income gap between men and women in Hinsdale County, Colorado has narrowed from about 30% to 6% in 2023. In dollar terms, the gap has narrowed by $7,231 since 2009.