Wealth Index
Less wealthy 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 | Wheatland County | Montana Avg | US Average |
|---|---|---|---|
| Median Household Income | $47,395 | $69,624 | $78,145 |
| Median Personal Income | $46,166 | $55,820 | $61,726 |
| Average income growth | 4.3% | 5.3% | 5.1% |
| Six-Figure Earners | 4.8% | 10.0% | 13.2% |
The median household income in Wheatland County is about 32% lower than in Montana. Income has been growing slower in Wheatland County (4.3%/yr) than in Montana (5.3%/yr).
About 5% of adults in Wheatland 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 Wheatland County, Montana grew by 56.4% from 2009 to 2023, reaching $47,395 in 2023. That's an average of about 4.3% per year.
Economic Inequality in Wheatland County | Gender Pay Gap | Gini Coefficient
| Metric | Wheatland County | Montana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.495 | 0.532 | 0.570 |
| Male Median Income | $47,638 | $62,811 | $67,746 |
| Female Median Income | $42,499 | $48,331 | $54,793 |
| Gender Pay Gap | 10.8% | 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 Wheatland 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 12% more than women's income in Wheatland County, Montana. Over a 35-year career, a 12% wage gap accumulates to roughly $179,865 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Wheatland County, Montana has narrowed from about 46% to 11% in 2023. In dollar terms, the gap has narrowed by $14,327 since 2009.
Employment
| Metric | Wheatland County | Montana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 1.0% | 3.7% | 5.2% |
| Working from Home | 21.7% | 11.6% | 13.4% |
| Commute time (minutes) | 10 | 16 | 22 |
Approximately 8 people are unemployed in Wheatland County, Montana.
The average commute time in Wheatland County is 10 minutes, shorter than the 16 minutes in Montana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Wheatland County, Montana has fallen from 4.7% to 1.0% in 2023.
Conclusion
Considering all these factors, Wheatland 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 Wheatland County, Montana.
How Rich Is Wheatland County, Montana?
Wheatland 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 $47,395, about 32% lower than the Montana average of $69,624.
What is the current median household income in Wheatland County, Montana?
As of 2023, the median household income in Wheatland County, Montana is $47,395.
What was the median household income in Wheatland County in 2023?
In 2023, the median household income in Wheatland County, Montana was $47,395.
What was the median household income in Wheatland County in 2020?
In 2020, the median household income in Wheatland County, Montana was $35,269.
What is the Gini coefficient in Wheatland County, Montana?
The Gini coefficient in Wheatland 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 Wheatland County, Montana?
Since 2009, the income gap between men and women in Wheatland County, Montana has narrowed from about 46% to 11% in 2023. In dollar terms, the gap has narrowed by $14,327 since 2009.