Wealth Index
Less wealthy than 74% 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 | Gem County | Idaho Avg | US Average |
|---|---|---|---|
| Median Household Income | $67,053 | $74,676 | $78,145 |
| Median Personal Income | $49,434 | $54,802 | $61,726 |
| Average income growth | 7.4% | 6.2% | 5.1% |
| Six-Figure Earners | 7.4% | 9.8% | 13.2% |
The median household income in Gem County is about 10% lower than in Idaho. Income has been growing faster in Gem County (7.4%/yr) than in Idaho (6.2%/yr).
About 7% of adults in Gem 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 Gem County, Idaho grew by 60.6% from 2009 to 2023, reaching $67,053 in 2023. That's an average of about 7.4% per year.
Economic Inequality in Gem County | Gender Pay Gap | Gini Coefficient
| Metric | Gem County | Idaho Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.534 | 0.553 | 0.570 |
| Male Median Income | $58,851 | $61,839 | $67,746 |
| Female Median Income | $40,135 | $46,302 | $54,793 |
| Gender Pay Gap | 31.8% | 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 Gem County, it is 0.534, 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 47% more than women's income in Gem County, Idaho. Over a 35-year career, a 47% wage gap accumulates to roughly $655,060 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Gem County, Idaho has widened from about 25% to 32% in 2023. In dollar terms, the gap has widened by $8,992 since 2009.
Employment
| Metric | Gem County | Idaho Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.8% | 3.7% | 5.2% |
| Working from Home | 12.6% | 12.2% | 13.4% |
| Commute time (minutes) | 31 | 17 | 22 |
Approximately 259 people are unemployed in Gem County, Idaho.
The average commute time in Gem County is 31 minutes, longer than the 17 minutes in Idaho.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Gem County, Idaho has fallen from 11.8% to 2.8% in 2023.
Conclusion
Considering all these factors, Gem 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 Gem County, Idaho.
How Rich Is Gem County, Idaho?
Gem 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 $67,053, about 10% lower than the Idaho average of $74,676.
What is the current median household income in Gem County, Idaho?
As of 2023, the median household income in Gem County, Idaho is $67,053.
What was the median household income in Gem County in 2023?
In 2023, the median household income in Gem County, Idaho was $67,053.
What was the median household income in Gem County in 2020?
In 2020, the median household income in Gem County, Idaho was $52,985.
What is the Gini coefficient in Gem County, Idaho?
The Gini coefficient in Gem County is 0.534. 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 Gem County, Idaho?
Since 2009, the income gap between men and women in Gem County, Idaho has widened from about 25% to 32% in 2023. In dollar terms, the gap has widened by $8,992 since 2009.