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 | Parker | Colorado Avg | US Average |
|---|---|---|---|
| Median Household Income | $124,382 | $93,055 | $78,145 |
| Median Personal Income | $87,144 | $69,173 | $61,726 |
| Average income growth | 3.0% | 5.8% | 5.1% |
| Six-Figure Earners | 24.2% | 17.0% | 13.2% |
The median household income in Parker is about 34% higher than in Colorado. Income has been growing slower in Parker (3.0%/yr) than in Colorado (5.8%/yr).
About 24% of adults in Parker 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 Parker, Colorado grew by 46.0% from 2009 to 2023, reaching $124,382 in 2023. That's an average of about 3.0% per year.
Economic Inequality in Parker | Gender Pay Gap | Gini Coefficient
| Metric | Parker | Colorado Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.534 | 0.547 | 0.570 |
| Male Median Income | $102,035 | $75,396 | $67,746 |
| Female Median Income | $72,103 | $61,821 | $54,793 |
| Gender Pay Gap | 29.3% | 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 Parker, it is 0.534, 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 42% more than women's income in Parker, Colorado. Over a 35-year career, a 42% wage gap accumulates to roughly $1,047,620 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Parker, Colorado has narrowed from about 33% to 29% in 2023. In dollar terms, the gap has widened by $6,305 since 2009.
Employment
| Metric | Parker | Colorado Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.8% | 4.4% | 5.2% |
| Working from Home | 23.7% | 18.8% | 13.4% |
| Commute time (minutes) | 23 | 22 | 22 |
Approximately 1,143 people are unemployed in Parker, Colorado.
The average commute time in Parker is 23 minutes, longer than the 22 minutes in Colorado.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Parker, Colorado has fallen from 4.3% to 3.8% in 2023.
Conclusion
Considering all these factors, Parker, Colorado has an overall wealth index grade of A+, making it notably better than Colorado, and far better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Parker, Colorado.
How Rich Is Parker, Colorado?
Parker has a wealth index grade of A+. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an A+ grade means it is one of the most prosperous areas in the country. The median household income is $124,382, about 34% higher than the Colorado average of $93,055.
What is the current median household income in Parker, Colorado?
As of 2023, the median household income in Parker, Colorado is $124,382.
What was the median household income in Parker in 2023?
In 2023, the median household income in Parker, Colorado was $124,382.
What was the median household income in Parker in 2020?
In 2020, the median household income in Parker, Colorado was $107,413.
What is the Gini coefficient in Parker, Colorado?
The Gini coefficient in Parker is 0.534. 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 Parker, Colorado?
Since 2009, the income gap between men and women in Parker, Colorado has narrowed from about 33% to 29% in 2023. In dollar terms, the gap has widened by $6,305 since 2009.