Wealth Index
Wealthier than 84% 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 | Routt County | Colorado Avg | US Average |
|---|---|---|---|
| Median Household Income | $103,670 | $93,055 | $78,145 |
| Median Personal Income | $72,790 | $69,173 | $61,726 |
| Average income growth | 7.5% | 5.8% | 5.1% |
| Six-Figure Earners | 21.7% | 17.0% | 13.2% |
The median household income in Routt County is about 11% higher than in Colorado. Income has been growing faster in Routt County (7.5%/yr) than in Colorado (5.8%/yr).
About 22% of adults in Routt 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 Routt County, Colorado grew by 61.4% from 2009 to 2023, reaching $103,670 in 2023. That's an average of about 7.5% per year.
Economic Inequality in Routt County | Gender Pay Gap | Gini Coefficient
| Metric | Routt County | Colorado Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.526 | 0.547 | 0.570 |
| Male Median Income | $75,893 | $75,396 | $67,746 |
| Female Median Income | $66,480 | $61,821 | $54,793 |
| Gender Pay Gap | 12.4% | 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 Routt County, it is 0.526, 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 14% more than women's income in Routt County, Colorado. Over a 35-year career, a 14% wage gap accumulates to roughly $329,455 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Routt County, Colorado has narrowed from about 26% to 12% in 2023. In dollar terms, the gap has narrowed by $3,076 since 2009.
Employment
| Metric | Routt County | Colorado Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.5% | 4.4% | 5.2% |
| Working from Home | 18.5% | 18.8% | 13.4% |
| Commute time (minutes) | 15 | 22 | 22 |
Approximately 354 people are unemployed in Routt County, Colorado.
The average commute time in Routt County is 15 minutes, shorter than the 22 minutes in Colorado.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Routt County, Colorado has fallen from 4.4% to 2.5% in 2023.
Conclusion
Considering all these factors, Routt County, Colorado has an overall wealth index grade of B, making it somewhat better than Colorado, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Routt County, Colorado.
How Rich Is Routt County, Colorado?
Routt 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 $103,670, about 11% higher than the Colorado average of $93,055.
What is the current median household income in Routt County, Colorado?
As of 2023, the median household income in Routt County, Colorado is $103,670.
What was the median household income in Routt County in 2023?
In 2023, the median household income in Routt County, Colorado was $103,670.
What was the median household income in Routt County in 2020?
In 2020, the median household income in Routt County, Colorado was $76,581.
What is the Gini coefficient in Routt County, Colorado?
The Gini coefficient in Routt County is 0.526. 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 Routt County, Colorado?
Since 2009, the income gap between men and women in Routt County, Colorado has narrowed from about 26% to 12% in 2023. In dollar terms, the gap has narrowed by $3,076 since 2009.