Wealth Index
Wealthier than 71% 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 | Ouray County | Colorado Avg | US Average |
|---|---|---|---|
| Median Household Income | $84,289 | $93,055 | $78,145 |
| Median Personal Income | $64,122 | $69,173 | $61,726 |
| Average income growth | 4.0% | 5.8% | 5.1% |
| Six-Figure Earners | 16.2% | 17.0% | 13.2% |
The median household income in Ouray County is about 9% lower than in Colorado. Income has been growing slower in Ouray County (4.0%/yr) than in Colorado (5.8%/yr).
About 16% of adults in Ouray 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 Ouray County, Colorado grew by 45.0% from 2009 to 2023, reaching $84,289 in 2023. That's an average of about 4.0% per year.
Economic Inequality in Ouray County | Gender Pay Gap | Gini Coefficient
| Metric | Ouray County | Colorado Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.523 | 0.547 | 0.570 |
| Male Median Income | $75,536 | $75,396 | $67,746 |
| Female Median Income | $52,314 | $61,821 | $54,793 |
| Gender Pay Gap | 30.7% | 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 Ouray County, it is 0.523, 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 44% more than women's income in Ouray County, Colorado. Over a 35-year career, a 44% wage gap accumulates to roughly $812,770 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Ouray County, Colorado has widened from about 7% to 31% in 2023. In dollar terms, the gap has widened by $20,038 since 2009.
Employment
| Metric | Ouray County | Colorado Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.2% | 4.4% | 5.2% |
| Working from Home | 16.7% | 18.8% | 13.4% |
| Commute time (minutes) | 22 | 22 | 22 |
Approximately 79 people are unemployed in Ouray County, Colorado.
The average commute time in Ouray County is 22 minutes, about the same as in Colorado.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Ouray County, Colorado has fallen from 8.8% to 3.2% in 2023.
Conclusion
Considering all these factors, Ouray County, 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 Ouray County, Colorado.
How Wealthy Is Ouray County, Colorado?
Ouray County 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 $84,289, about 9% lower than the Colorado average of $93,055.
What is the current median household income in Ouray County, Colorado?
As of 2023, the median household income in Ouray County, Colorado is $84,289.
What was the median household income in Ouray County in 2023?
In 2023, the median household income in Ouray County, Colorado was $84,289.
What was the median household income in Ouray County in 2020?
In 2020, the median household income in Ouray County, Colorado was $67,123.
What is the Gini coefficient in Ouray County, Colorado?
The Gini coefficient in Ouray County is 0.523. 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 Ouray County, Colorado?
Since 2009, the income gap between men and women in Ouray County, Colorado has widened from about 7% to 31% in 2023. In dollar terms, the gap has widened by $20,038 since 2009.