Wealth Index
Less wealthy than 91% of counties in Montana
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 | Mineral County | Montana Avg | US Average |
|---|---|---|---|
| Median Household Income | $61,235 | $69,624 | $78,145 |
| Median Personal Income | $59,322 | $55,820 | $61,726 |
| Average income growth | 7.6% | 5.3% | 5.1% |
| Six-Figure Earners | 9.4% | 10.0% | 13.2% |
The median household income in Mineral County is about 12% lower than in Montana. Income has been growing faster in Mineral County (7.6%/yr) than in Montana (5.3%/yr).
About 9% of adults in Mineral 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 Mineral County, Montana grew by 65.2% from 2009 to 2023, reaching $61,235 in 2023. That's an average of about 7.6% per year.
Economic Inequality in Mineral County | Gender Pay Gap | Gini Coefficient
| Metric | Mineral County | Montana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.495 | 0.532 | 0.570 |
| Male Median Income | $62,090 | $62,811 | $67,746 |
| Female Median Income | $56,904 | $48,331 | $54,793 |
| Gender Pay Gap | 8.4% | 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 Mineral County, it is 0.495, 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 9% more than women's income in Mineral County, Montana. Over a 35-year career, a 9% wage gap accumulates to roughly $181,510 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Mineral County, Montana has narrowed from about 31% to 8% in 2023. In dollar terms, the gap has narrowed by $5,653 since 2009.
Employment
| Metric | Mineral County | Montana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.0% | 3.7% | 5.2% |
| Working from Home | 10.5% | 11.6% | 13.4% |
| Commute time (minutes) | 21 | 16 | 22 |
Approximately 82 people are unemployed in Mineral County, Montana.
The average commute time in Mineral County is 21 minutes, longer than the 16 minutes in Montana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Mineral County, Montana has fallen from 8.4% to 4.0% in 2023.
Conclusion
Considering all these factors, Mineral County, Montana has an overall wealth index grade of D, making it somewhat worse than Montana, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Mineral County, Montana.
How Rich Is Mineral County, Montana?
Mineral 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 $61,235, about 12% lower than the Montana average of $69,624.
What is the current median household income in Mineral County, Montana?
As of 2023, the median household income in Mineral County, Montana is $61,235.
What was the median household income in Mineral County in 2023?
In 2023, the median household income in Mineral County, Montana was $61,235.
What was the median household income in Mineral County in 2020?
In 2020, the median household income in Mineral County, Montana was $48,835.
What is the Gini coefficient in Mineral County, Montana?
The Gini coefficient in Mineral County is 0.495. 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 Mineral County, Montana?
Since 2009, the income gap between men and women in Mineral County, Montana has narrowed from about 31% to 8% in 2023. In dollar terms, the gap has narrowed by $5,653 since 2009.