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 | Moffat County | Colorado Avg | US Average |
|---|---|---|---|
| Median Household Income | $70,017 | $93,055 | $78,145 |
| Median Personal Income | $62,897 | $69,173 | $61,726 |
| Average income growth | 3.7% | 5.8% | 5.1% |
| Six-Figure Earners | 10.7% | 17.0% | 13.2% |
The median household income in Moffat County is about 25% lower than in Colorado. Income has been growing slower in Moffat County (3.7%/yr) than in Colorado (5.8%/yr).
About 11% of adults in Moffat 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 Moffat County, Colorado grew by 29.4% from 2009 to 2023, reaching $70,017 in 2023. That's an average of about 3.7% per year.
Economic Inequality in Moffat County | Gender Pay Gap | Gini Coefficient
| Metric | Moffat County | Colorado Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.561 | 0.547 | 0.570 |
| Male Median Income | $69,664 | $75,396 | $67,746 |
| Female Median Income | $52,867 | $61,821 | $54,793 |
| Gender Pay Gap | 24.1% | 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 Moffat County, it is 0.561, 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 32% more than women's income in Moffat County, Colorado. Over a 35-year career, a 32% wage gap accumulates to roughly $587,895 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Moffat County, Colorado has narrowed from about 32% to 24% in 2023. In dollar terms, the gap has widened by $843 since 2009.
Employment
| Metric | Moffat County | Colorado Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.0% | 4.4% | 5.2% |
| Working from Home | 4.3% | 18.8% | 13.4% |
| Commute time (minutes) | 13 | 22 | 22 |
Approximately 264 people are unemployed in Moffat County, Colorado.
The average commute time in Moffat County is 13 minutes, shorter than the 22 minutes in Colorado.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Moffat County, Colorado has fallen from 6.2% to 4.0% in 2023.
Conclusion
Considering all these factors, Moffat County, Colorado has an overall wealth index grade of C, making it about on par with Colorado, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Moffat County, Colorado.
How Rich Is Moffat County, Colorado?
Moffat 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 $70,017, about 25% lower than the Colorado average of $93,055.
What is the current median household income in Moffat County, Colorado?
As of 2023, the median household income in Moffat County, Colorado is $70,017.
What was the median household income in Moffat County in 2023?
In 2023, the median household income in Moffat County, Colorado was $70,017.
What was the median household income in Moffat County in 2020?
In 2020, the median household income in Moffat County, Colorado was $54,888.
What is the Gini coefficient in Moffat County, Colorado?
The Gini coefficient in Moffat County is 0.561. 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 Moffat County, Colorado?
Since 2009, the income gap between men and women in Moffat County, Colorado has narrowed from about 32% to 24% in 2023. In dollar terms, the gap has widened by $843 since 2009.