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 | Westminster | Colorado Avg | US Average |
|---|---|---|---|
| Median Household Income | $100,634 | $93,055 | $78,145 |
| Median Personal Income | $72,554 | $69,173 | $61,726 |
| Average income growth | 5.0% | 5.8% | 5.1% |
| Six-Figure Earners | 17.8% | 17.0% | 13.2% |
The median household income in Westminster is about 8% higher than in Colorado. Income has been growing slower in Westminster (5.0%/yr) than in Colorado (5.8%/yr).
About 18% of adults in Westminster 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 Westminster, Colorado grew by 57.5% from 2009 to 2023, reaching $100,634 in 2023. That's an average of about 5.0% per year.
Economic Inequality in Westminster | Gender Pay Gap | Gini Coefficient
| Metric | Westminster | Colorado Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.514 | 0.547 | 0.570 |
| Male Median Income | $79,625 | $75,396 | $67,746 |
| Female Median Income | $65,165 | $61,821 | $54,793 |
| Gender Pay Gap | 18.2% | 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 Westminster, it is 0.514, 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 Westminster, Colorado. Over a 35-year career, a 22% wage gap accumulates to roughly $506,100 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Westminster, Colorado has narrowed from about 19% to 18% in 2023. In dollar terms, the gap has widened by $4,709 since 2009.
Employment
| Metric | Westminster | Colorado Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.8% | 4.4% | 5.2% |
| Working from Home | 19.1% | 18.8% | 13.4% |
| Commute time (minutes) | 25 | 22 | 22 |
Approximately 2,599 people are unemployed in Westminster, Colorado.
The average commute time in Westminster is 25 minutes, longer than the 22 minutes in Colorado.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Westminster, Colorado has fallen from 7.6% to 3.8% in 2023.
Conclusion
Considering all these factors, Westminster, Colorado has an overall wealth index grade of B, making it somewhat better than Colorado, and somewhat better than the country as a whole.
Westminster, CO Wealth Compared With Nearby Cities
How Westminster, CO compares with the 1 cities closest to it.
| Area | Population | Median household income | Unemployment | Income inequality |
|---|---|---|---|---|
| Westminster, CO | 114,227 | $100,634 #2/2 | 3.8% #2/2 | 0.5 #1/2 |
| Broomfield, CO | 74,746 | $120,846 | 3.2% | 0.5 |
Frequently Asked Questions
Common questions about income and wealth in Westminster, Colorado.
How Rich Is Westminster, Colorado?
Westminster 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 $100,634, about 8% higher than the Colorado average of $93,055.
What is the current median household income in Westminster, Colorado?
As of 2023, the median household income in Westminster, Colorado is $100,634.
What was the median household income in Westminster in 2023?
In 2023, the median household income in Westminster, Colorado was $100,634.
What was the median household income in Westminster in 2020?
In 2020, the median household income in Westminster, Colorado was $81,331.
What is the Gini coefficient in Westminster, Colorado?
The Gini coefficient in Westminster is 0.514. 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 Westminster, Colorado?
Since 2009, the income gap between men and women in Westminster, Colorado has narrowed from about 19% to 18% in 2023. In dollar terms, the gap has widened by $4,709 since 2009.