Wealth Index
Among the top 5 wealthiest 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 | Pitkin County | Colorado Avg | US Average |
|---|---|---|---|
| Median Household Income | $100,711 | $93,055 | $78,145 |
| Median Personal Income | $76,720 | $69,173 | $61,726 |
| Average income growth | 5.3% | 5.8% | 5.1% |
| Six-Figure Earners | 26.4% | 17.0% | 13.2% |
The median household income in Pitkin County is about 8% higher than in Colorado. Income has been growing slower in Pitkin County (5.3%/yr) than in Colorado (5.8%/yr).
About 26% of adults in Pitkin 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 Pitkin County, Colorado grew by 61.4% from 2009 to 2023, reaching $100,711 in 2023. That's an average of about 5.3% per year.
Economic Inequality in Pitkin County | Gender Pay Gap | Gini Coefficient
| Metric | Pitkin County | Colorado Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.481 | 0.547 | 0.570 |
| Male Median Income | $83,680 | $75,396 | $67,746 |
| Female Median Income | $68,780 | $61,821 | $54,793 |
| Gender Pay Gap | 17.8% | 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 Pitkin County, it is 0.481, 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 22% more than women's income in Pitkin County, Colorado. Over a 35-year career, a 22% wage gap accumulates to roughly $521,500 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Pitkin County, Colorado has widened from about 14% to 18% in 2023. In dollar terms, the gap has widened by $7,318 since 2009.
Employment
| Metric | Pitkin County | Colorado Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 1.5% | 4.4% | 5.2% |
| Working from Home | 14.9% | 18.8% | 13.4% |
| Commute time (minutes) | 17 | 22 | 22 |
Approximately 159 people are unemployed in Pitkin County, Colorado.
The average commute time in Pitkin County is 17 minutes, shorter than the 22 minutes in Colorado.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Pitkin County, Colorado has fallen from 4.7% to 1.5% in 2023.
Conclusion
Considering all these factors, Pitkin County, Colorado has an overall wealth index grade of A, making it somewhat better than Colorado, and notably better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Pitkin County, Colorado.
How Rich Is Pitkin County, Colorado?
Pitkin County 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 residents are much better off than the U.S. average. The median household income is $100,711, about 8% higher than the Colorado average of $93,055.
What is the current median household income in Pitkin County, Colorado?
As of 2023, the median household income in Pitkin County, Colorado is $100,711.
What was the median household income in Pitkin County in 2023?
In 2023, the median household income in Pitkin County, Colorado was $100,711.
What was the median household income in Pitkin County in 2020?
In 2020, the median household income in Pitkin County, Colorado was $83,072.
What is the Gini coefficient in Pitkin County, Colorado?
The Gini coefficient in Pitkin County is 0.481. 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 Pitkin County, Colorado?
Since 2009, the income gap between men and women in Pitkin County, Colorado has widened from about 14% to 18% in 2023. In dollar terms, the gap has widened by $7,318 since 2009.