Wealth Index
Less wealthy than 73% of counties in Minnesota
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 | Carlton County | Minnesota Avg | US Average |
|---|---|---|---|
| Median Household Income | $79,016 | $88,383 | $78,145 |
| Median Personal Income | $62,048 | $67,709 | $61,726 |
| Average income growth | 5.0% | 4.8% | 5.1% |
| Six-Figure Earners | 7.6% | 14.5% | 13.2% |
The median household income in Carlton County is about 11% lower than in Minnesota. Income has been growing faster in Carlton County (5.0%/yr) than in Minnesota (4.8%/yr).
About 8% of adults in Carlton County earn six figures ($100,000 or more) a year, lower than the Minnesota average of 14%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Carlton County, Minnesota grew by 53.7% from 2009 to 2023, reaching $79,016 in 2023. That's an average of about 5.0% per year.
Economic Inequality in Carlton County | Gender Pay Gap | Gini Coefficient
| Metric | Carlton County | Minnesota Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.503 | 0.520 | 0.570 |
| Male Median Income | $68,806 | $73,285 | $67,746 |
| Female Median Income | $53,561 | $61,000 | $54,793 |
| Gender Pay Gap | 22.2% | 16.8% | 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 Carlton County, it is 0.503, lower than Minnesota's 0.520, 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 28% more than women's income in Carlton County, Minnesota. Over a 35-year career, a 28% wage gap accumulates to roughly $533,575 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Carlton County, Minnesota has narrowed from about 25% to 22% in 2023. In dollar terms, the gap has widened by $3,337 since 2009.
Employment
| Metric | Carlton County | Minnesota Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.0% | 3.9% | 5.2% |
| Working from Home | 8.6% | 15.9% | 13.4% |
| Commute time (minutes) | 18 | 20 | 22 |
Approximately 711 people are unemployed in Carlton County, Minnesota.
The average commute time in Carlton County is 18 minutes, shorter than the 20 minutes in Minnesota.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Carlton County, Minnesota has fallen from 7.5% to 4.0% in 2023.
Conclusion
Considering all these factors, Carlton County, Minnesota has an overall wealth index grade of B, making it somewhat worse than Minnesota, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Carlton County, Minnesota.
How Rich Is Carlton County, Minnesota?
Carlton County has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $79,016, about 11% lower than the Minnesota average of $88,383.
What is the current median household income in Carlton County, Minnesota?
As of 2023, the median household income in Carlton County, Minnesota is $79,016.
What was the median household income in Carlton County in 2023?
In 2023, the median household income in Carlton County, Minnesota was $79,016.
What was the median household income in Carlton County in 2020?
In 2020, the median household income in Carlton County, Minnesota was $65,861.
What is the Gini coefficient in Carlton County, Minnesota?
The Gini coefficient in Carlton County is 0.503. 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 Carlton County, Minnesota?
Since 2009, the income gap between men and women in Carlton County, Minnesota has narrowed from about 25% to 22% in 2023. In dollar terms, the gap has widened by $3,337 since 2009.