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 | Loveland | Colorado Avg | US Average |
|---|---|---|---|
| Median Household Income | $82,656 | $93,055 | $78,145 |
| Median Personal Income | $62,294 | $69,173 | $61,726 |
| Average income growth | 5.2% | 5.8% | 5.1% |
| Six-Figure Earners | 11.8% | 17.0% | 13.2% |
The median household income in Loveland is about 11% lower than in Colorado. Income has been growing slower in Loveland (5.2%/yr) than in Colorado (5.8%/yr).
About 12% of adults in Loveland 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 Loveland, Colorado grew by 57.8% from 2009 to 2023, reaching $82,656 in 2023. That's an average of about 5.2% per year.
Economic Inequality in Loveland | Gender Pay Gap | Gini Coefficient
| Metric | Loveland | Colorado Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.514 | 0.547 | 0.570 |
| Male Median Income | $69,415 | $75,396 | $67,746 |
| Female Median Income | $53,611 | $61,821 | $54,793 |
| Gender Pay Gap | 22.8% | 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 Loveland, it is 0.514, 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 29% more than women's income in Loveland, Colorado. Over a 35-year career, a 29% wage gap accumulates to roughly $553,140 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Loveland, Colorado has narrowed from about 27% to 23% in 2023. In dollar terms, the gap has widened by $2,809 since 2009.
Employment
| Metric | Loveland | Colorado Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.9% | 4.4% | 5.2% |
| Working from Home | 15.6% | 18.8% | 13.4% |
| Commute time (minutes) | 22 | 22 | 22 |
Approximately 1,710 people are unemployed in Loveland, Colorado.
The average commute time in Loveland is 22 minutes, about the same as in Colorado.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Loveland, Colorado has fallen from 8.9% to 4.9% in 2023.
Conclusion
Considering all these factors, Loveland, 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 Loveland, Colorado.
How Rich Is Loveland, Colorado?
Loveland 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 $82,656, about 11% lower than the Colorado average of $93,055.
What is the current median household income in Loveland, Colorado?
As of 2023, the median household income in Loveland, Colorado is $82,656.
What was the median household income in Loveland in 2023?
In 2023, the median household income in Loveland, Colorado was $82,656.
What was the median household income in Loveland in 2020?
In 2020, the median household income in Loveland, Colorado was $72,139.
What is the Gini coefficient in Loveland, Colorado?
The Gini coefficient in Loveland is 0.514. 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 Loveland, Colorado?
Since 2009, the income gap between men and women in Loveland, Colorado has narrowed from about 27% to 23% in 2023. In dollar terms, the gap has widened by $2,809 since 2009.