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 | Missoula County | Montana Avg | US Average |
|---|---|---|---|
| Median Household Income | $71,100 | $69,624 | $78,145 |
| Median Personal Income | $54,626 | $55,820 | $61,726 |
| Average income growth | 6.2% | 5.3% | 5.1% |
| Six-Figure Earners | 10.0% | 10.0% | 13.2% |
The median household income in Missoula County is about 2% higher than in Montana. Income has been growing faster in Missoula County (6.2%/yr) than in Montana (5.3%/yr).
About 10% of adults in Missoula 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 Missoula County, Montana grew by 72.4% from 2009 to 2023, reaching $71,100 in 2023. That's an average of about 6.2% per year.
Economic Inequality in Missoula County | Gender Pay Gap | Gini Coefficient
| Metric | Missoula County | Montana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.528 | 0.532 | 0.570 |
| Male Median Income | $60,229 | $62,811 | $67,746 |
| Female Median Income | $48,867 | $48,331 | $54,793 |
| Gender Pay Gap | 18.9% | 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 Missoula County, it is 0.528, about the same as Montana's 0.532, so income here is about as evenly distributed as there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 23% more than women's income in Missoula County, Montana. Over a 35-year career, a 23% wage gap accumulates to roughly $397,670 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Missoula County, Montana has narrowed from about 26% to 19% in 2023. In dollar terms, the gap has widened by $961 since 2009.
Employment
| Metric | Missoula County | Montana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.4% | 3.7% | 5.2% |
| Working from Home | 13.0% | 11.6% | 13.4% |
| Commute time (minutes) | 16 | 16 | 22 |
Approximately 3,105 people are unemployed in Missoula County, Montana.
The average commute time in Missoula County is 16 minutes, about the same as in Montana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Missoula County, Montana has fallen from 7.5% to 4.4% in 2023.
Conclusion
Considering all these factors, Missoula 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 Missoula County, Montana.
How Rich Is Missoula County, Montana?
Missoula 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 $71,100, about 2% higher than the Montana average of $69,624.
What is the current median household income in Missoula County, Montana?
As of 2023, the median household income in Missoula County, Montana is $71,100.
What was the median household income in Missoula County in 2023?
In 2023, the median household income in Missoula County, Montana was $71,100.
What was the median household income in Missoula County in 2020?
In 2020, the median household income in Missoula County, Montana was $56,196.
What is the Gini coefficient in Missoula County, Montana?
The Gini coefficient in Missoula County is 0.528. 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 Missoula County, Montana?
Since 2009, the income gap between men and women in Missoula County, Montana has narrowed from about 26% to 19% in 2023. In dollar terms, the gap has widened by $961 since 2009.