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 | Golden Valley County | Montana Avg | US Average |
|---|---|---|---|
| Median Household Income | $57,916 | $69,624 | $78,145 |
| Median Personal Income | $34,943 | $55,820 | $61,726 |
| Average income growth | 4.3% | 5.3% | 5.1% |
| Six-Figure Earners | 6.1% | 10.0% | 13.2% |
The median household income in Golden Valley County is about 17% lower than in Montana. Income has been growing slower in Golden Valley County (4.3%/yr) than in Montana (5.3%/yr).
About 6% of adults in Golden Valley County earn six figures ($100,000 or more) a year, lower than the Montana average of 10%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Golden Valley County, Montana grew by 58.8% from 2009 to 2023, reaching $57,916 in 2023. That's an average of about 4.3% per year.
Economic Inequality in Golden Valley County | Gender Pay Gap | Gini Coefficient
| Metric | Golden Valley County | Montana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.549 | 0.532 | 0.570 |
| Male Median Income | $56,710 | $62,811 | $67,746 |
| Female Median Income | $31,071 | $48,331 | $54,793 |
| Gender Pay Gap | 45.2% | 23.1% | 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 Golden Valley County, it is 0.549, higher than Montana's 0.532, so income is less 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 83% more than women's income in Golden Valley County, Montana. Over a 35-year career, a 83% wage gap accumulates to roughly $897,365 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Golden Valley County, Montana has widened from about 31% to 45% in 2023. In dollar terms, the gap has widened by $14,670 since 2009.
Employment
| Metric | Golden Valley County | Montana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 1.5% | 3.7% | 5.2% |
| Working from Home | 11.8% | 11.6% | 13.4% |
| Commute time (minutes) | 20 | 16 | 22 |
Approximately 6 people are unemployed in Golden Valley County, Montana.
The average commute time in Golden Valley County is 20 minutes, longer than the 16 minutes in Montana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Golden Valley County, Montana has fallen from 5.5% to 1.5% in 2023.
Conclusion
Considering all these factors, Golden Valley County, Montana has an overall wealth index grade of C, making it about on par with Montana, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Golden Valley County, Montana.
How Rich Is Golden Valley County, Montana?
Golden Valley County has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $57,916, about 17% lower than the Montana average of $69,624.
What is the current median household income in Golden Valley County, Montana?
As of 2023, the median household income in Golden Valley County, Montana is $57,916.
What was the median household income in Golden Valley County in 2023?
In 2023, the median household income in Golden Valley County, Montana was $57,916.
What was the median household income in Golden Valley County in 2020?
In 2020, the median household income in Golden Valley County, Montana was $48,833.
What is the Gini coefficient in Golden Valley County, Montana?
The Gini coefficient in Golden Valley County is 0.549. 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 Golden Valley County, Montana?
Since 2009, the income gap between men and women in Golden Valley County, Montana has widened from about 31% to 45% in 2023. In dollar terms, the gap has widened by $14,670 since 2009.