Wealth Index
Wealthier than 85% 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 | Powder River County | Montana Avg | US Average |
|---|---|---|---|
| Median Household Income | $68,169 | $69,624 | $78,145 |
| Median Personal Income | $54,874 | $55,820 | $61,726 |
| Average income growth | 5.0% | 5.3% | 5.1% |
| Six-Figure Earners | 9.4% | 10.0% | 13.2% |
The median household income in Powder River County is about 2% lower than in Montana. Income has been growing slower in Powder River County (5.0%/yr) than in Montana (5.3%/yr).
About 9% of adults in Powder River 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 Powder River County, Montana grew by 72.5% from 2009 to 2023, reaching $68,169 in 2023. That's an average of about 5.0% per year.
Economic Inequality in Powder River County | Gender Pay Gap | Gini Coefficient
| Metric | Powder River County | Montana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.505 | 0.532 | 0.570 |
| Male Median Income | $50,131 | $62,811 | $67,746 |
| Female Median Income | $57,916 | $48,331 | $54,793 |
| Gender Pay Gap | -15.5% | 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 Powder River County, it is 0.505, 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.
Women's income is about 16% more than men's income in Powder River County, Montana. Over a 35-year career, a 16% wage gap accumulates to roughly $272,475 in unearned income for male workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Powder River County, Montana has widened from about 3% to -16% in 2023. In dollar terms, the gap has narrowed by $8,669 since 2009.
Employment
| Metric | Powder River County | Montana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 1.2% | 3.7% | 5.2% |
| Working from Home | 14.9% | 11.6% | 13.4% |
| Commute time (minutes) | 8 | 16 | 22 |
Approximately 10 people are unemployed in Powder River County, Montana.
The average commute time in Powder River County is 8 minutes, shorter than the 16 minutes in Montana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Powder River County, Montana has fallen from 3.7% to 1.2% in 2023.
Conclusion
Considering all these factors, Powder River 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 Powder River County, Montana.
How Rich Is Powder River County, Montana?
Powder River 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 $68,169, about 2% lower than the Montana average of $69,624.
What is the current median household income in Powder River County, Montana?
As of 2023, the median household income in Powder River County, Montana is $68,169.
What was the median household income in Powder River County in 2023?
In 2023, the median household income in Powder River County, Montana was $68,169.
What was the median household income in Powder River County in 2020?
In 2020, the median household income in Powder River County, Montana was $55,769.
What is the Gini coefficient in Powder River County, Montana?
The Gini coefficient in Powder River County is 0.505. 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 Powder River County, Montana?
Since 2009, the income gap between men and women in Powder River County, Montana has widened from about 3% to -16% in 2023. In dollar terms, the gap has narrowed by $8,669 since 2009.