Wealth Index
Less wealthy than 83% 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 | Rio Grande County | Colorado Avg | US Average |
|---|---|---|---|
| Median Household Income | $63,885 | $93,055 | $78,145 |
| Median Personal Income | $59,543 | $69,173 | $61,726 |
| Average income growth | 7.1% | 5.8% | 5.1% |
| Six-Figure Earners | 9.3% | 17.0% | 13.2% |
The median household income in Rio Grande County is about 31% lower than in Colorado. Income has been growing faster in Rio Grande County (7.1%/yr) than in Colorado (5.8%/yr).
About 9% of adults in Rio Grande 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 Rio Grande County, Colorado grew by 60.9% from 2009 to 2023, reaching $63,885 in 2023. That's an average of about 7.1% per year.
Economic Inequality in Rio Grande County | Gender Pay Gap | Gini Coefficient
| Metric | Rio Grande County | Colorado Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.569 | 0.547 | 0.570 |
| Male Median Income | $59,193 | $75,396 | $67,746 |
| Female Median Income | $60,031 | $61,821 | $54,793 |
| Gender Pay Gap | -1.4% | 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 Rio Grande County, it is 0.569, higher than Colorado's 0.547, so income is less evenly distributed here than there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Women's income is about 1% more than men's income in Rio Grande County, Colorado. Over a 35-year career, a 1% wage gap accumulates to roughly $29,330 in unearned income for male workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Rio Grande County, Colorado has narrowed from about 13% to -1% in 2023. In dollar terms, the gap has narrowed by $5,557 since 2009.
Employment
| Metric | Rio Grande County | Colorado Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 8.0% | 4.4% | 5.2% |
| Working from Home | 7.1% | 18.8% | 13.4% |
| Commute time (minutes) | 17 | 22 | 22 |
Approximately 451 people are unemployed in Rio Grande County, Colorado.
The average commute time in Rio Grande County is 17 minutes, shorter than the 22 minutes in Colorado.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Rio Grande County, Colorado has fallen from 11.0% to 8.0% in 2023.
Conclusion
Considering all these factors, Rio Grande County, Colorado has an overall wealth index grade of D, making it somewhat worse than Colorado, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Rio Grande County, Colorado.
How Rich Is Rio Grande County, Colorado?
Rio Grande County has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $63,885, about 31% lower than the Colorado average of $93,055.
What is the current median household income in Rio Grande County, Colorado?
As of 2023, the median household income in Rio Grande County, Colorado is $63,885.
What was the median household income in Rio Grande County in 2023?
In 2023, the median household income in Rio Grande County, Colorado was $63,885.
What was the median household income in Rio Grande County in 2020?
In 2020, the median household income in Rio Grande County, Colorado was $43,382.
What is the Gini coefficient in Rio Grande County, Colorado?
The Gini coefficient in Rio Grande County is 0.569. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Rio Grande County, Colorado?
Since 2009, the income gap between men and women in Rio Grande County, Colorado has narrowed from about 13% to -1% in 2023. In dollar terms, the gap has narrowed by $5,557 since 2009.