Wealth Index
Less wealthy than 84% 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 | Las Animas County | Colorado Avg | US Average |
|---|---|---|---|
| Median Household Income | $50,480 | $93,055 | $78,145 |
| Median Personal Income | $48,384 | $69,173 | $61,726 |
| Average income growth | 2.5% | 5.8% | 5.1% |
| Six-Figure Earners | 5.8% | 17.0% | 13.2% |
The median household income in Las Animas County is about 46% lower than in Colorado. Income has been growing slower in Las Animas County (2.5%/yr) than in Colorado (5.8%/yr).
About 6% of adults in Las Animas 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 Las Animas County, Colorado grew by 34.7% from 2009 to 2023, reaching $50,480 in 2023. That's an average of about 2.5% per year.
Economic Inequality in Las Animas County | Gender Pay Gap | Gini Coefficient
| Metric | Las Animas County | Colorado Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.564 | 0.547 | 0.570 |
| Male Median Income | $49,882 | $75,396 | $67,746 |
| Female Median Income | $44,148 | $61,821 | $54,793 |
| Gender Pay Gap | 11.5% | 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 Las Animas County, it is 0.564, 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 13% more than women's income in Las Animas County, Colorado. Over a 35-year career, a 13% wage gap accumulates to roughly $200,690 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Las Animas County, Colorado has narrowed from about 28% to 11% in 2023. In dollar terms, the gap has narrowed by $5,664 since 2009.
Employment
| Metric | Las Animas County | Colorado Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.6% | 4.4% | 5.2% |
| Working from Home | 10.5% | 18.8% | 13.4% |
| Commute time (minutes) | 12 | 22 | 22 |
Approximately 351 people are unemployed in Las Animas County, Colorado.
The average commute time in Las Animas County is 12 minutes, shorter than the 22 minutes in Colorado.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Las Animas County, Colorado has fallen from 7.7% to 5.6% in 2023.
Conclusion
Considering all these factors, Las Animas County, Colorado has an overall wealth index grade of D, making it somewhat worse than Colorado, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Las Animas County, Colorado.
How Rich Is Las Animas County, Colorado?
Las Animas County has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $50,480, about 46% lower than the Colorado average of $93,055.
What is the current median household income in Las Animas County, Colorado?
As of 2023, the median household income in Las Animas County, Colorado is $50,480.
What was the median household income in Las Animas County in 2023?
In 2023, the median household income in Las Animas County, Colorado was $50,480.
What was the median household income in Las Animas County in 2020?
In 2020, the median household income in Las Animas County, Colorado was $44,142.
What is the Gini coefficient in Las Animas County, Colorado?
The Gini coefficient in Las Animas County is 0.564. 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 Las Animas County, Colorado?
Since 2009, the income gap between men and women in Las Animas County, Colorado has narrowed from about 28% to 11% in 2023. In dollar terms, the gap has narrowed by $5,664 since 2009.