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 | Pueblo West | Colorado Avg | US Average |
|---|---|---|---|
| Median Household Income | $89,867 | $93,055 | $78,145 |
| Median Personal Income | $59,835 | $69,173 | $61,726 |
| Average income growth | 6.0% | 5.8% | 5.1% |
| Six-Figure Earners | 10.8% | 17.0% | 13.2% |
The median household income in Pueblo West is about 3% lower than in Colorado. Income has been growing faster in Pueblo West (6.0%/yr) than in Colorado (5.8%/yr).
About 11% of adults in Pueblo West 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 Pueblo West, Colorado grew by 54.4% from 2009 to 2023, reaching $89,867 in 2023. That's an average of about 6.0% per year.
Economic Inequality in Pueblo West | Gender Pay Gap | Gini Coefficient
| Metric | Pueblo West | Colorado Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.513 | 0.547 | 0.570 |
| Male Median Income | $67,025 | $75,396 | $67,746 |
| Female Median Income | $49,981 | $61,821 | $54,793 |
| Gender Pay Gap | 25.4% | 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 Pueblo West, it is 0.513, 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 34% more than women's income in Pueblo West, Colorado. Over a 35-year career, a 34% wage gap accumulates to roughly $596,540 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Pueblo West, Colorado has widened from about 24% to 25% in 2023. In dollar terms, the gap has widened by $5,702 since 2009.
Employment
| Metric | Pueblo West | Colorado Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.9% | 4.4% | 5.2% |
| Working from Home | 8.8% | 18.8% | 13.4% |
| Commute time (minutes) | 22 | 22 | 22 |
Approximately 522 people are unemployed in Pueblo West, Colorado.
The average commute time in Pueblo West is 22 minutes, about the same as in Colorado.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Pueblo West, Colorado has fallen from 7.2% to 4.9% in 2023.
Conclusion
Considering all these factors, Pueblo West, 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 Pueblo West, Colorado.
How Rich Is Pueblo West, Colorado?
Pueblo West 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 $89,867, about 3% lower than the Colorado average of $93,055.
What is the current median household income in Pueblo West, Colorado?
As of 2023, the median household income in Pueblo West, Colorado is $89,867.
What was the median household income in Pueblo West in 2023?
In 2023, the median household income in Pueblo West, Colorado was $89,867.
What was the median household income in Pueblo West in 2020?
In 2020, the median household income in Pueblo West, Colorado was $71,668.
What is the Gini coefficient in Pueblo West, Colorado?
The Gini coefficient in Pueblo West is 0.513. 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 Pueblo West, Colorado?
Since 2009, the income gap between men and women in Pueblo West, Colorado has widened from about 24% to 25% in 2023. In dollar terms, the gap has widened by $5,702 since 2009.