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 | Bannock County | Idaho Avg | US Average |
|---|---|---|---|
| Median Household Income | $65,263 | $74,676 | $78,145 |
| Median Personal Income | $53,104 | $54,802 | $61,726 |
| Average income growth | 5.4% | 6.2% | 5.1% |
| Six-Figure Earners | 7.5% | 9.8% | 13.2% |
The median household income in Bannock County is about 13% lower than in Idaho. Income has been growing slower in Bannock County (5.4%/yr) than in Idaho (6.2%/yr).
About 7% of adults in Bannock County earn six figures ($100,000 or more) a year, lower than the Idaho average of 10%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Bannock County, Idaho grew by 48.1% from 2009 to 2023, reaching $65,263 in 2023. That's an average of about 5.4% per year.
Economic Inequality in Bannock County | Gender Pay Gap | Gini Coefficient
| Metric | Bannock County | Idaho Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.556 | 0.553 | 0.570 |
| Male Median Income | $60,054 | $61,839 | $67,746 |
| Female Median Income | $46,123 | $46,302 | $54,793 |
| Gender Pay Gap | 23.2% | 25.1% | 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 Bannock County, it is 0.556, about the same as Idaho's 0.553, so income here is about as evenly distributed as there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 30% more than women's income in Bannock County, Idaho. Over a 35-year career, a 30% wage gap accumulates to roughly $487,585 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Bannock County, Idaho has narrowed from about 35% to 23% in 2023. In dollar terms, the gap has narrowed by $1,088 since 2009.
Employment
| Metric | Bannock County | Idaho Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.6% | 3.7% | 5.2% |
| Working from Home | 10.5% | 12.2% | 13.4% |
| Commute time (minutes) | 13 | 17 | 22 |
Approximately 1,965 people are unemployed in Bannock County, Idaho.
The average commute time in Bannock County is 13 minutes, shorter than the 17 minutes in Idaho.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Bannock County, Idaho has fallen from 7.1% to 4.6% in 2023.
Conclusion
Considering all these factors, Bannock County, Idaho has an overall wealth index grade of C, making it about on par with Idaho, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Bannock County, Idaho.
How Rich Is Bannock County, Idaho?
Bannock County has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $65,263, about 13% lower than the Idaho average of $74,676.
What is the current median household income in Bannock County, Idaho?
As of 2023, the median household income in Bannock County, Idaho is $65,263.
What was the median household income in Bannock County in 2023?
In 2023, the median household income in Bannock County, Idaho was $65,263.
What was the median household income in Bannock County in 2020?
In 2020, the median household income in Bannock County, Idaho was $52,161.
What is the Gini coefficient in Bannock County, Idaho?
The Gini coefficient in Bannock County is 0.556. 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 Bannock County, Idaho?
Since 2009, the income gap between men and women in Bannock County, Idaho has narrowed from about 35% to 23% in 2023. In dollar terms, the gap has narrowed by $1,088 since 2009.