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 | Meagher County | Montana Avg | US Average |
|---|---|---|---|
| Median Household Income | $54,336 | $69,624 | $78,145 |
| Median Personal Income | $48,367 | $55,820 | $61,726 |
| Average income growth | 4.9% | 5.3% | 5.1% |
| Six-Figure Earners | 6.1% | 10.0% | 13.2% |
The median household income in Meagher County is about 22% lower than in Montana. Income has been growing slower in Meagher County (4.9%/yr) than in Montana (5.3%/yr).
About 6% of adults in Meagher 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 Meagher County, Montana grew by 62.2% from 2009 to 2023, reaching $54,336 in 2023. That's an average of about 4.9% per year.
Economic Inequality in Meagher County | Gender Pay Gap | Gini Coefficient
| Metric | Meagher County | Montana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.498 | 0.532 | 0.570 |
| Male Median Income | $49,906 | $62,811 | $67,746 |
| Female Median Income | $47,443 | $48,331 | $54,793 |
| Gender Pay Gap | 4.9% | 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 Meagher County, it is 0.498, 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 5% more than women's income in Meagher County, Montana. Over a 35-year career, a 5% wage gap accumulates to roughly $86,205 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Meagher County, Montana has narrowed from about 17% to 5% in 2023. In dollar terms, the gap has narrowed by $2,855 since 2009.
Employment
| Metric | Meagher County | Montana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 1.0% | 3.7% | 5.2% |
| Working from Home | 14.7% | 11.6% | 13.4% |
| Commute time (minutes) | 12 | 16 | 22 |
Approximately 1 people are unemployed in Meagher County, Montana.
The average commute time in Meagher County is 12 minutes, shorter than the 16 minutes in Montana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Meagher County, Montana has fallen from 4.9% to 1.0% in 2023.
Conclusion
Considering all these factors, Meagher 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 Meagher County, Montana.
How Rich Is Meagher County, Montana?
Meagher 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 $54,336, about 22% lower than the Montana average of $69,624.
What is the current median household income in Meagher County, Montana?
As of 2023, the median household income in Meagher County, Montana is $54,336.
What was the median household income in Meagher County in 2023?
In 2023, the median household income in Meagher County, Montana was $54,336.
What was the median household income in Meagher County in 2020?
In 2020, the median household income in Meagher County, Montana was $47,556.
What is the Gini coefficient in Meagher County, Montana?
The Gini coefficient in Meagher County is 0.498. 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 Meagher County, Montana?
Since 2009, the income gap between men and women in Meagher County, Montana has narrowed from about 17% to 5% in 2023. In dollar terms, the gap has narrowed by $2,855 since 2009.