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 | McCone County | Montana Avg | US Average |
|---|---|---|---|
| Median Household Income | $71,458 | $69,624 | $78,145 |
| Median Personal Income | $51,313 | $55,820 | $61,726 |
| Average income growth | 7.3% | 5.3% | 5.1% |
| Six-Figure Earners | 9.8% | 10.0% | 13.2% |
The median household income in McCone County is about 3% higher than in Montana. Income has been growing faster in McCone County (7.3%/yr) than in Montana (5.3%/yr).
About 10% of adults in McCone County earn six figures ($100,000 or more) a year, about the same as the Montana average of 10%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in McCone County, Montana grew by 71.9% from 2009 to 2023, reaching $71,458 in 2023. That's an average of about 7.3% per year.
Economic Inequality in McCone County | Gender Pay Gap | Gini Coefficient
| Metric | McCone County | Montana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.512 | 0.532 | 0.570 |
| Male Median Income | $56,224 | $62,811 | $67,746 |
| Female Median Income | $43,280 | $48,331 | $54,793 |
| Gender Pay Gap | 23.0% | 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 McCone County, it is 0.512, lower than Montana's 0.532, 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 30% more than women's income in McCone County, Montana. Over a 35-year career, a 30% wage gap accumulates to roughly $453,040 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in McCone County, Montana has widened from about 18% to 23% in 2023. In dollar terms, the gap has widened by $7,059 since 2009.
Employment
| Metric | McCone County | Montana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.7% | 3.7% | 5.2% |
| Working from Home | 15.7% | 11.6% | 13.4% |
| Commute time (minutes) | 13 | 16 | 22 |
Approximately 25 people are unemployed in McCone County, Montana.
The average commute time in McCone County is 13 minutes, shorter than the 16 minutes in Montana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in McCone County, Montana has fallen from 2.8% to 2.7% in 2023.
Conclusion
Considering all these factors, McCone 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 McCone County, Montana.
How Rich Is McCone County, Montana?
McCone 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 $71,458, about 3% higher than the Montana average of $69,624.
What is the current median household income in McCone County, Montana?
As of 2023, the median household income in McCone County, Montana is $71,458.
What was the median household income in McCone County in 2023?
In 2023, the median household income in McCone County, Montana was $71,458.
What was the median household income in McCone County in 2020?
In 2020, the median household income in McCone County, Montana was $55,454.
What is the Gini coefficient in McCone County, Montana?
The Gini coefficient in McCone County is 0.512. 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 McCone County, Montana?
Since 2009, the income gap between men and women in McCone County, Montana has widened from about 18% to 23% in 2023. In dollar terms, the gap has widened by $7,059 since 2009.