Wealth Index
Less wealthy than 79% of counties in North Dakota
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 | Grant County | North Dakota Avg | US Average |
|---|---|---|---|
| Median Household Income | $55,686 | $76,061 | $78,145 |
| Median Personal Income | $48,693 | $60,423 | $61,726 |
| Average income growth | 2.8% | 3.6% | 5.1% |
| Six-Figure Earners | 8.0% | 11.8% | 13.2% |
The median household income in Grant County is about 27% lower than in North Dakota. Income has been growing slower in Grant County (2.8%/yr) than in North Dakota (3.6%/yr).
About 8% of adults in Grant County earn six figures ($100,000 or more) a year, lower than the North Dakota average of 12%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Grant County, North Dakota grew by 32.6% from 2009 to 2023, reaching $55,686 in 2023. That's an average of about 2.8% per year.
Economic Inequality in Grant County | Gender Pay Gap | Gini Coefficient
| Metric | Grant County | North Dakota Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.554 | 0.515 | 0.570 |
| Male Median Income | $55,357 | $67,015 | $67,746 |
| Female Median Income | $46,041 | $52,823 | $54,793 |
| Gender Pay Gap | 16.8% | 21.2% | 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 Grant County, it is 0.554, higher than North Dakota's 0.515, 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 20% more than women's income in Grant County, North Dakota. Over a 35-year career, a 20% wage gap accumulates to roughly $326,060 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Grant County, North Dakota has narrowed from about 21% to 17% in 2023. In dollar terms, the gap has widened by $2,425 since 2009.
Employment
| Metric | Grant County | North Dakota Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.7% | 2.8% | 5.2% |
| Working from Home | 17.5% | 7.3% | 13.4% |
| Commute time (minutes) | 8 | 13 | 22 |
Approximately 39 people are unemployed in Grant County, North Dakota.
The average commute time in Grant County is 8 minutes, shorter than the 13 minutes in North Dakota.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Grant County, North Dakota has risen from 1.5% to 3.7% in 2023.
Conclusion
Considering all these factors, Grant County, North Dakota has an overall wealth index grade of B, making it about on par with North Dakota, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Grant County, North Dakota.
How Rich Is Grant County, North Dakota?
Grant 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 $55,686, about 27% lower than the North Dakota average of $76,061.
What is the current median household income in Grant County, North Dakota?
As of 2023, the median household income in Grant County, North Dakota is $55,686.
What was the median household income in Grant County in 2023?
In 2023, the median household income in Grant County, North Dakota was $55,686.
What was the median household income in Grant County in 2020?
In 2020, the median household income in Grant County, North Dakota was $52,467.
What is the Gini coefficient in Grant County, North Dakota?
The Gini coefficient in Grant County is 0.554. 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 Grant County, North Dakota?
Since 2009, the income gap between men and women in Grant County, North Dakota has narrowed from about 21% to 17% in 2023. In dollar terms, the gap has widened by $2,425 since 2009.