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 | Kit Carson County | Colorado Avg | US Average |
|---|---|---|---|
| Median Household Income | $57,698 | $93,055 | $78,145 |
| Median Personal Income | $51,209 | $69,173 | $61,726 |
| Average income growth | 4.7% | 5.8% | 5.1% |
| Six-Figure Earners | 7.3% | 17.0% | 13.2% |
The median household income in Kit Carson County is about 38% lower than in Colorado. Income has been growing slower in Kit Carson County (4.7%/yr) than in Colorado (5.8%/yr).
About 7% of adults in Kit Carson 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 Kit Carson County, Colorado grew by 41.1% from 2009 to 2023, reaching $57,698 in 2023. That's an average of about 4.7% per year.
Economic Inequality in Kit Carson County | Gender Pay Gap | Gini Coefficient
| Metric | Kit Carson County | Colorado Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.506 | 0.547 | 0.570 |
| Male Median Income | $52,063 | $75,396 | $67,746 |
| Female Median Income | $47,291 | $61,821 | $54,793 |
| Gender Pay Gap | 9.2% | 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 Kit Carson County, it is 0.506, 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 10% more than women's income in Kit Carson County, Colorado. Over a 35-year career, a 10% wage gap accumulates to roughly $167,020 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Kit Carson County, Colorado has narrowed from about 18% to 9% in 2023. In dollar terms, the gap has narrowed by $1,451 since 2009.
Employment
| Metric | Kit Carson County | Colorado Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.8% | 4.4% | 5.2% |
| Working from Home | 9.2% | 18.8% | 13.4% |
| Commute time (minutes) | 15 | 22 | 22 |
Approximately 99 people are unemployed in Kit Carson County, Colorado.
The average commute time in Kit Carson County is 15 minutes, shorter than the 22 minutes in Colorado.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Kit Carson County, Colorado has fallen from 5.0% to 2.8% in 2023.
Conclusion
Considering all these factors, Kit Carson 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 Kit Carson County, Colorado.
How Rich Is Kit Carson County, Colorado?
Kit Carson 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 $57,698, about 38% lower than the Colorado average of $93,055.
What is the current median household income in Kit Carson County, Colorado?
As of 2023, the median household income in Kit Carson County, Colorado is $57,698.
What was the median household income in Kit Carson County in 2023?
In 2023, the median household income in Kit Carson County, Colorado was $57,698.
What was the median household income in Kit Carson County in 2020?
In 2020, the median household income in Kit Carson County, Colorado was $47,692.
What is the Gini coefficient in Kit Carson County, Colorado?
The Gini coefficient in Kit Carson County is 0.506. 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 Kit Carson County, Colorado?
Since 2009, the income gap between men and women in Kit Carson County, Colorado has narrowed from about 18% to 9% in 2023. In dollar terms, the gap has narrowed by $1,451 since 2009.