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 | Bingham County | Idaho Avg | US Average |
|---|---|---|---|
| Median Household Income | $76,907 | $74,676 | $78,145 |
| Median Personal Income | $52,254 | $54,802 | $61,726 |
| Average income growth | 6.4% | 6.2% | 5.1% |
| Six-Figure Earners | 8.6% | 9.8% | 13.2% |
The median household income in Bingham County is about 3% higher than in Idaho. Income has been growing faster in Bingham County (6.4%/yr) than in Idaho (6.2%/yr).
About 9% of adults in Bingham 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 Bingham County, Idaho grew by 72.8% from 2009 to 2023, reaching $76,907 in 2023. That's an average of about 6.4% per year.
Economic Inequality in Bingham County | Gender Pay Gap | Gini Coefficient
| Metric | Bingham County | Idaho Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.554 | 0.553 | 0.570 |
| Male Median Income | $58,906 | $61,839 | $67,746 |
| Female Median Income | $45,374 | $46,302 | $54,793 |
| Gender Pay Gap | 23.0% | 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 Bingham County, it is 0.554, 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 Bingham County, Idaho. Over a 35-year career, a 30% wage gap accumulates to roughly $473,620 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Bingham County, Idaho has narrowed from about 33% to 23% in 2023. In dollar terms, the gap has widened by $185 since 2009.
Employment
| Metric | Bingham County | Idaho Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.8% | 3.7% | 5.2% |
| Working from Home | 5.9% | 12.2% | 13.4% |
| Commute time (minutes) | 18 | 17 | 22 |
Approximately 1,361 people are unemployed in Bingham County, Idaho.
The average commute time in Bingham County is 18 minutes, longer than the 17 minutes in Idaho.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Bingham County, Idaho has fallen from 5.9% to 5.8% in 2023.
Conclusion
Considering all these factors, Bingham 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 Bingham County, Idaho.
How Rich Is Bingham County, Idaho?
Bingham 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 $76,907, about 3% higher than the Idaho average of $74,676.
What is the current median household income in Bingham County, Idaho?
As of 2023, the median household income in Bingham County, Idaho is $76,907.
What was the median household income in Bingham County in 2023?
In 2023, the median household income in Bingham County, Idaho was $76,907.
What was the median household income in Bingham County in 2020?
In 2020, the median household income in Bingham County, Idaho was $57,973.
What is the Gini coefficient in Bingham County, Idaho?
The Gini coefficient in Bingham County is 0.554. 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 Bingham County, Idaho?
Since 2009, the income gap between men and women in Bingham County, Idaho has narrowed from about 33% to 23% in 2023. In dollar terms, the gap has widened by $185 since 2009.