Wealth Index
Wealthier than 70% 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 | Park County | Colorado Avg | US Average |
|---|---|---|---|
| Median Household Income | $97,441 | $93,055 | $78,145 |
| Median Personal Income | $74,626 | $69,173 | $61,726 |
| Average income growth | 6.7% | 5.8% | 5.1% |
| Six-Figure Earners | 17.6% | 17.0% | 13.2% |
The median household income in Park County is about 5% higher than in Colorado. Income has been growing faster in Park County (6.7%/yr) than in Colorado (5.8%/yr).
About 18% of adults in Park County earn six figures ($100,000 or more) a year, higher than the Colorado average of 17%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Park County, Colorado grew by 61.7% from 2009 to 2023, reaching $97,441 in 2023. That's an average of about 6.7% per year.
Economic Inequality in Park County | Gender Pay Gap | Gini Coefficient
| Metric | Park County | Colorado Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.522 | 0.547 | 0.570 |
| Male Median Income | $84,002 | $75,396 | $67,746 |
| Female Median Income | $63,797 | $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 Park County, it is 0.522, 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 32% more than women's income in Park County, Colorado. Over a 35-year career, a 32% wage gap accumulates to roughly $707,175 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Park County, Colorado has narrowed from about 31% to 24% in 2023. In dollar terms, the gap has widened by $2,793 since 2009.
Employment
| Metric | Park County | Colorado Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.5% | 4.4% | 5.2% |
| Working from Home | 22.2% | 18.8% | 13.4% |
| Commute time (minutes) | 42 | 22 | 22 |
Approximately 322 people are unemployed in Park County, Colorado.
The average commute time in Park County is 42 minutes, longer than the 22 minutes in Colorado.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Park County, Colorado has fallen from 7.2% to 3.5% in 2023.
Conclusion
Considering all these factors, Park 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 Park County, Colorado.
How Rich Is Park County, Colorado?
Park 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 $97,441, about 5% higher than the Colorado average of $93,055.
What is the current median household income in Park County, Colorado?
As of 2023, the median household income in Park County, Colorado is $97,441.
What was the median household income in Park County in 2023?
In 2023, the median household income in Park County, Colorado was $97,441.
What was the median household income in Park County in 2020?
In 2020, the median household income in Park County, Colorado was $77,992.
What is the Gini coefficient in Park County, Colorado?
The Gini coefficient in Park County is 0.522. 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 Park County, Colorado?
Since 2009, the income gap between men and women in Park County, Colorado has narrowed from about 31% to 24% in 2023. In dollar terms, the gap has widened by $2,793 since 2009.