Wealth Index
Less wealthy than 86% 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 | Shoshone County | Idaho Avg | US Average |
|---|---|---|---|
| Median Household Income | $49,974 | $74,676 | $78,145 |
| Median Personal Income | $47,158 | $54,802 | $61,726 |
| Average income growth | 4.3% | 6.2% | 5.1% |
| Six-Figure Earners | 5.2% | 9.8% | 13.2% |
The median household income in Shoshone County is about 33% lower than in Idaho. Income has been growing slower in Shoshone County (4.3%/yr) than in Idaho (6.2%/yr).
About 5% of adults in Shoshone 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 Shoshone County, Idaho grew by 41.3% from 2009 to 2023, reaching $49,974 in 2023. That's an average of about 4.3% per year.
Economic Inequality in Shoshone County | Gender Pay Gap | Gini Coefficient
| Metric | Shoshone County | Idaho Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.550 | 0.553 | 0.570 |
| Male Median Income | $56,856 | $61,839 | $67,746 |
| Female Median Income | $35,645 | $46,302 | $54,793 |
| Gender Pay Gap | 37.3% | 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 Shoshone County, it is 0.550, 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 60% more than women's income in Shoshone County, Idaho. Over a 35-year career, a 60% wage gap accumulates to roughly $742,385 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Shoshone County, Idaho has widened from about 31% to 37% in 2023. In dollar terms, the gap has widened by $9,529 since 2009.
Employment
| Metric | Shoshone County | Idaho Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.1% | 3.7% | 5.2% |
| Working from Home | 6.1% | 12.2% | 13.4% |
| Commute time (minutes) | 12 | 17 | 22 |
Approximately 305 people are unemployed in Shoshone County, Idaho.
The average commute time in Shoshone County is 12 minutes, shorter than the 17 minutes in Idaho.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Shoshone County, Idaho has fallen from 8.9% to 5.1% in 2023.
Conclusion
Considering all these factors, Shoshone County, Idaho has an overall wealth index grade of D, making it somewhat worse than Idaho, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Shoshone County, Idaho.
How Rich Is Shoshone County, Idaho?
Shoshone 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 $49,974, about 33% lower than the Idaho average of $74,676.
What is the current median household income in Shoshone County, Idaho?
As of 2023, the median household income in Shoshone County, Idaho is $49,974.
What was the median household income in Shoshone County in 2023?
In 2023, the median household income in Shoshone County, Idaho was $49,974.
What was the median household income in Shoshone County in 2020?
In 2020, the median household income in Shoshone County, Idaho was $40,505.
What is the Gini coefficient in Shoshone County, Idaho?
The Gini coefficient in Shoshone County is 0.550. 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 Shoshone County, Idaho?
Since 2009, the income gap between men and women in Shoshone County, Idaho has widened from about 31% to 37% in 2023. In dollar terms, the gap has widened by $9,529 since 2009.