Wealth Index
Less wealthy than 72% of counties in Idaho
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 | Elmore County | Idaho Avg | US Average |
|---|---|---|---|
| Median Household Income | $58,910 | $74,676 | $78,145 |
| Median Personal Income | $47,612 | $54,802 | $61,726 |
| Average income growth | 4.2% | 6.2% | 5.1% |
| Six-Figure Earners | 6.1% | 9.8% | 13.2% |
The median household income in Elmore County is about 21% lower than in Idaho. Income has been growing slower in Elmore County (4.2%/yr) than in Idaho (6.2%/yr).
About 6% of adults in Elmore 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 Elmore County, Idaho grew by 33.2% from 2009 to 2023, reaching $58,910 in 2023. That's an average of about 4.2% per year.
Economic Inequality in Elmore County | Gender Pay Gap | Gini Coefficient
| Metric | Elmore County | Idaho Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.531 | 0.553 | 0.570 |
| Male Median Income | $50,190 | $61,839 | $67,746 |
| Female Median Income | $41,950 | $46,302 | $54,793 |
| Gender Pay Gap | 16.4% | 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 Elmore County, it is 0.531, lower than Idaho's 0.553, 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 20% more than women's income in Elmore County, Idaho. Over a 35-year career, a 20% wage gap accumulates to roughly $288,400 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Elmore County, Idaho has narrowed from about 29% to 16% in 2023. In dollar terms, the gap has narrowed by $2,365 since 2009.
Employment
| Metric | Elmore County | Idaho Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.1% | 3.7% | 5.2% |
| Working from Home | 3.2% | 12.2% | 13.4% |
| Commute time (minutes) | 16 | 17 | 22 |
Approximately 720 people are unemployed in Elmore County, Idaho.
The average commute time in Elmore County is 16 minutes, shorter than the 17 minutes in Idaho.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Elmore County, Idaho has fallen from 7.3% to 5.1% in 2023.
Conclusion
Considering all these factors, Elmore County, Idaho has an overall wealth index grade of D, making it about on par with Idaho, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Elmore County, Idaho.
How Wealthy Is Elmore County, Idaho?
Elmore County has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $58,910, about 21% lower than the Idaho average of $74,676.
What is the current median household income in Elmore County, Idaho?
As of 2023, the median household income in Elmore County, Idaho is $58,910.
What was the median household income in Elmore County in 2023?
In 2023, the median household income in Elmore County, Idaho was $58,910.
What was the median household income in Elmore County in 2020?
In 2020, the median household income in Elmore County, Idaho was $45,643.
What is the Gini coefficient in Elmore County, Idaho?
The Gini coefficient in Elmore County is 0.531. 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 Elmore County, Idaho?
Since 2009, the income gap between men and women in Elmore County, Idaho has narrowed from about 29% to 16% in 2023. In dollar terms, the gap has narrowed by $2,365 since 2009.