Wealth Index
Wealthier than 73% 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 | Teller County | Colorado Avg | US Average |
|---|---|---|---|
| Median Household Income | $80,045 | $93,055 | $78,145 |
| Median Personal Income | $61,647 | $69,173 | $61,726 |
| Average income growth | 3.5% | 5.8% | 5.1% |
| Six-Figure Earners | 13.5% | 17.0% | 13.2% |
The median household income in Teller County is about 14% lower than in Colorado. Income has been growing slower in Teller County (3.5%/yr) than in Colorado (5.8%/yr).
About 14% of adults in Teller 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 Teller County, Colorado grew by 38.6% from 2009 to 2023, reaching $80,045 in 2023. That's an average of about 3.5% per year.
Economic Inequality in Teller County | Gender Pay Gap | Gini Coefficient
| Metric | Teller County | Colorado Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.520 | 0.547 | 0.570 |
| Male Median Income | $70,925 | $75,396 | $67,746 |
| Female Median Income | $50,346 | $61,821 | $54,793 |
| Gender Pay Gap | 29.0% | 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 Teller County, it is 0.520, 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 41% more than women's income in Teller County, Colorado. Over a 35-year career, a 41% wage gap accumulates to roughly $720,265 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Teller County, Colorado has widened from about 26% to 29% in 2023. In dollar terms, the gap has widened by $7,031 since 2009.
Employment
| Metric | Teller County | Colorado Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.4% | 4.4% | 5.2% |
| Working from Home | 15.8% | 18.8% | 13.4% |
| Commute time (minutes) | 30 | 22 | 22 |
Approximately 422 people are unemployed in Teller County, Colorado.
The average commute time in Teller County is 30 minutes, longer than the 22 minutes in Colorado.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Teller County, Colorado has fallen from 7.9% to 3.4% in 2023.
Conclusion
Considering all these factors, Teller County, 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 Teller County, Colorado.
How Rich Is Teller County, Colorado?
Teller 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 $80,045, about 14% lower than the Colorado average of $93,055.
What is the current median household income in Teller County, Colorado?
As of 2023, the median household income in Teller County, Colorado is $80,045.
What was the median household income in Teller County in 2023?
In 2023, the median household income in Teller County, Colorado was $80,045.
What was the median household income in Teller County in 2020?
In 2020, the median household income in Teller County, Colorado was $63,413.
What is the Gini coefficient in Teller County, Colorado?
The Gini coefficient in Teller County is 0.520. 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 Teller County, Colorado?
Since 2009, the income gap between men and women in Teller County, Colorado has widened from about 26% to 29% in 2023. In dollar terms, the gap has widened by $7,031 since 2009.