Wealth Index
Less wealthy than 92% 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 | Otero County | Colorado Avg | US Average |
|---|---|---|---|
| Median Household Income | $54,906 | $93,055 | $78,145 |
| Median Personal Income | $50,161 | $69,173 | $61,726 |
| Average income growth | 6.9% | 5.8% | 5.1% |
| Six-Figure Earners | 4.6% | 17.0% | 13.2% |
The median household income in Otero County is about 41% lower than in Colorado. Income has been growing faster in Otero County (6.9%/yr) than in Colorado (5.8%/yr).
About 5% of adults in Otero 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 Otero County, Colorado grew by 68.3% from 2009 to 2023, reaching $54,906 in 2023. That's an average of about 6.9% per year.
Economic Inequality in Otero County | Gender Pay Gap | Gini Coefficient
| Metric | Otero County | Colorado Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.551 | 0.547 | 0.570 |
| Male Median Income | $53,671 | $75,396 | $67,746 |
| Female Median Income | $46,697 | $61,821 | $54,793 |
| Gender Pay Gap | 13.0% | 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 Otero County, it is 0.551, about the same as Colorado's 0.547, so income here is about as evenly distributed as there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 15% more than women's income in Otero County, Colorado. Over a 35-year career, a 15% wage gap accumulates to roughly $244,090 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Otero County, Colorado has widened from about 11% to 13% in 2023. In dollar terms, the gap has widened by $3,397 since 2009.
Employment
| Metric | Otero County | Colorado Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.6% | 4.4% | 5.2% |
| Working from Home | 5.6% | 18.8% | 13.4% |
| Commute time (minutes) | 12 | 22 | 22 |
Approximately 380 people are unemployed in Otero County, Colorado.
The average commute time in Otero County is 12 minutes, shorter than the 22 minutes in Colorado.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Otero County, Colorado has fallen from 12.7% to 4.6% in 2023.
Conclusion
Considering all these factors, Otero 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 Otero County, Colorado.
How Wealthy Is Otero County, Colorado?
Otero 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 $54,906, about 41% lower than the Colorado average of $93,055.
What is the current median household income in Otero County, Colorado?
As of 2023, the median household income in Otero County, Colorado is $54,906.
What was the median household income in Otero County in 2023?
In 2023, the median household income in Otero County, Colorado was $54,906.
What was the median household income in Otero County in 2020?
In 2020, the median household income in Otero County, Colorado was $43,241.
What is the Gini coefficient in Otero County, Colorado?
The Gini coefficient in Otero County is 0.551. 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 Otero County, Colorado?
Since 2009, the income gap between men and women in Otero County, Colorado has widened from about 11% to 13% in 2023. In dollar terms, the gap has widened by $3,397 since 2009.