Wealth Index
Among the 5 least wealthy 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 | Powell County | Montana Avg | US Average |
|---|---|---|---|
| Median Household Income | $63,394 | $69,624 | $78,145 |
| Median Personal Income | $49,979 | $55,820 | $61,726 |
| Average income growth | 6.0% | 5.3% | 5.1% |
| Six-Figure Earners | 5.1% | 10.0% | 13.2% |
The median household income in Powell County is about 9% lower than in Montana. Income has been growing faster in Powell County (6.0%/yr) than in Montana (5.3%/yr).
About 5% of adults in Powell 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 Powell County, Montana grew by 57.1% from 2009 to 2023, reaching $63,394 in 2023. That's an average of about 6.0% per year.
Economic Inequality in Powell County | Gender Pay Gap | Gini Coefficient
| Metric | Powell County | Montana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.548 | 0.532 | 0.570 |
| Male Median Income | $52,027 | $62,811 | $67,746 |
| Female Median Income | $45,978 | $48,331 | $54,793 |
| Gender Pay Gap | 11.6% | 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 Powell County, it is 0.548, higher than Montana's 0.532, so income is less 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 13% more than women's income in Powell County, Montana. Over a 35-year career, a 13% wage gap accumulates to roughly $211,715 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Powell County, Montana has narrowed from about 26% to 12% in 2023. In dollar terms, the gap has narrowed by $2,529 since 2009.
Employment
| Metric | Powell County | Montana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.1% | 3.7% | 5.2% |
| Working from Home | 7.5% | 11.6% | 13.4% |
| Commute time (minutes) | 12 | 16 | 22 |
Approximately 107 people are unemployed in Powell County, Montana.
The average commute time in Powell County is 12 minutes, shorter than the 16 minutes in Montana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Powell County, Montana has fallen from 4.4% to 4.1% in 2023.
Conclusion
Considering all these factors, Powell 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 Powell County, Montana.
How Rich Is Powell County, Montana?
Powell 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 $63,394, about 9% lower than the Montana average of $69,624.
What is the current median household income in Powell County, Montana?
As of 2023, the median household income in Powell County, Montana is $63,394.
What was the median household income in Powell County in 2023?
In 2023, the median household income in Powell County, Montana was $63,394.
What was the median household income in Powell County in 2020?
In 2020, the median household income in Powell County, Montana was $50,279.
What is the Gini coefficient in Powell County, Montana?
The Gini coefficient in Powell County is 0.548. 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 Powell County, Montana?
Since 2009, the income gap between men and women in Powell County, Montana has narrowed from about 26% to 12% in 2023. In dollar terms, the gap has narrowed by $2,529 since 2009.