Wealth Index
Wealthier than 78% 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 | Park County | Montana Avg | US Average |
|---|---|---|---|
| Median Household Income | $66,156 | $69,624 | $78,145 |
| Median Personal Income | $56,603 | $55,820 | $61,726 |
| Average income growth | 6.3% | 5.3% | 5.1% |
| Six-Figure Earners | 10.8% | 10.0% | 13.2% |
The median household income in Park County is about 5% lower than in Montana. Income has been growing faster in Park County (6.3%/yr) than in Montana (5.3%/yr).
About 11% of adults in Park County earn six figures ($100,000 or more) a year, higher than the Montana average of 10%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Park County, Montana grew by 66.2% from 2009 to 2023, reaching $66,156 in 2023. That's an average of about 6.3% per year.
Economic Inequality in Park County | Gender Pay Gap | Gini Coefficient
| Metric | Park County | Montana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.495 | 0.532 | 0.570 |
| Male Median Income | $61,095 | $62,811 | $67,746 |
| Female Median Income | $49,216 | $48,331 | $54,793 |
| Gender Pay Gap | 19.4% | 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 Park 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 24% more than women's income in Park County, Montana. Over a 35-year career, a 24% wage gap accumulates to roughly $415,765 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Park County, Montana has widened from about 17% to 19% in 2023. In dollar terms, the gap has widened by $5,631 since 2009.
Employment
| Metric | Park County | Montana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.9% | 3.7% | 5.2% |
| Working from Home | 15.9% | 11.6% | 13.4% |
| Commute time (minutes) | 17 | 16 | 22 |
Approximately 269 people are unemployed in Park County, Montana.
The average commute time in Park County is 17 minutes, longer than the 16 minutes in Montana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Park County, Montana has fallen from 6.2% to 2.9% in 2023.
Conclusion
Considering all these factors, Park County, Montana has an overall wealth index grade of B, making it somewhat better than Montana, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Park County, Montana.
How Rich Is Park County, Montana?
Park County has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $66,156, about 5% lower than the Montana average of $69,624.
What is the current median household income in Park County, Montana?
As of 2023, the median household income in Park County, Montana is $66,156.
What was the median household income in Park County in 2023?
In 2023, the median household income in Park County, Montana was $66,156.
What was the median household income in Park County in 2020?
In 2020, the median household income in Park County, Montana was $53,404.
What is the Gini coefficient in Park County, Montana?
The Gini coefficient in Park 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 Park County, Montana?
Since 2009, the income gap between men and women in Park County, Montana has widened from about 17% to 19% in 2023. In dollar terms, the gap has widened by $5,631 since 2009.