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 | Latah County | Idaho Avg | US Average |
|---|---|---|---|
| Median Household Income | $65,949 | $74,676 | $78,145 |
| Median Personal Income | $54,637 | $54,802 | $61,726 |
| Average income growth | 6.5% | 6.2% | 5.1% |
| Six-Figure Earners | 8.7% | 9.8% | 13.2% |
The median household income in Latah County is about 12% lower than in Idaho. Income has been growing faster in Latah County (6.5%/yr) than in Idaho (6.2%/yr).
About 9% of adults in Latah 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 Latah County, Idaho grew by 81.7% from 2009 to 2023, reaching $65,949 in 2023. That's an average of about 6.5% per year.
Economic Inequality in Latah County | Gender Pay Gap | Gini Coefficient
| Metric | Latah County | Idaho Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.569 | 0.553 | 0.570 |
| Male Median Income | $58,820 | $61,839 | $67,746 |
| Female Median Income | $50,193 | $46,302 | $54,793 |
| Gender Pay Gap | 14.7% | 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 Latah County, it is 0.569, higher than Idaho's 0.553, so income is less evenly distributed here than there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 17% more than women's income in Latah County, Idaho. Over a 35-year career, a 17% wage gap accumulates to roughly $301,945 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Latah County, Idaho has narrowed from about 27% to 15% in 2023. In dollar terms, the gap has narrowed by $2,893 since 2009.
Employment
| Metric | Latah County | Idaho Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.1% | 3.7% | 5.2% |
| Working from Home | 9.9% | 12.2% | 13.4% |
| Commute time (minutes) | 15 | 17 | 22 |
Approximately 1,293 people are unemployed in Latah County, Idaho.
The average commute time in Latah County is 15 minutes, shorter than the 17 minutes in Idaho.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Latah County, Idaho has fallen from 7.5% to 6.1% in 2023.
Conclusion
Considering all these factors, Latah 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 Latah County, Idaho.
How Rich Is Latah County, Idaho?
Latah 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 $65,949, about 12% lower than the Idaho average of $74,676.
What is the current median household income in Latah County, Idaho?
As of 2023, the median household income in Latah County, Idaho is $65,949.
What was the median household income in Latah County in 2023?
In 2023, the median household income in Latah County, Idaho was $65,949.
What was the median household income in Latah County in 2020?
In 2020, the median household income in Latah County, Idaho was $51,413.
What is the Gini coefficient in Latah County, Idaho?
The Gini coefficient in Latah County is 0.569. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Latah County, Idaho?
Since 2009, the income gap between men and women in Latah County, Idaho has narrowed from about 27% to 15% in 2023. In dollar terms, the gap has narrowed by $2,893 since 2009.