Wealth Index
Among the top 5 wealthiest 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 | McKenzie County | North Dakota Avg | US Average |
|---|---|---|---|
| Median Household Income | $91,601 | $76,061 | $78,145 |
| Median Personal Income | $71,321 | $60,423 | $61,726 |
| Average income growth | 2.2% | 3.6% | 5.1% |
| Six-Figure Earners | 17.3% | 11.8% | 13.2% |
The median household income in McKenzie County is about 20% higher than in North Dakota. Income has been growing slower in McKenzie County (2.2%/yr) than in North Dakota (3.6%/yr).
About 17% of adults in McKenzie County earn six figures ($100,000 or more) a year, higher than the North Dakota average of 12%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in McKenzie County, North Dakota grew by 95.0% from 2009 to 2023, reaching $91,601 in 2023. That's an average of about 2.2% per year.
Economic Inequality in McKenzie County | Gender Pay Gap | Gini Coefficient
| Metric | McKenzie County | North Dakota Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.534 | 0.515 | 0.570 |
| Male Median Income | $83,041 | $67,015 | $67,746 |
| Female Median Income | $52,534 | $52,823 | $54,793 |
| Gender Pay Gap | 36.7% | 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 McKenzie County, it is 0.534, 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 58% more than women's income in McKenzie County, North Dakota. Over a 35-year career, a 58% wage gap accumulates to roughly $1,067,745 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in McKenzie County, North Dakota has widened from about 12% to 37% in 2023. In dollar terms, the gap has widened by $25,261 since 2009.
Employment
| Metric | McKenzie County | North Dakota Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 1.5% | 2.8% | 5.2% |
| Working from Home | 8.3% | 7.3% | 13.4% |
| Commute time (minutes) | 15 | 13 | 22 |
Approximately 111 people are unemployed in McKenzie County, North Dakota.
The average commute time in McKenzie County is 15 minutes, longer than the 13 minutes in North Dakota.
Unemployment Rate Over Time
Since 2011, the unemployment rate in McKenzie County, North Dakota has fallen from 4.2% to 1.5% in 2023.
Conclusion
Considering all these factors, McKenzie County, North Dakota has an overall wealth index grade of B, making it somewhat better than North Dakota, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in McKenzie County, North Dakota.
How Rich Is McKenzie County, North Dakota?
McKenzie 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 $91,601, about 20% higher than the North Dakota average of $76,061.
What is the current median household income in McKenzie County, North Dakota?
As of 2023, the median household income in McKenzie County, North Dakota is $91,601.
What was the median household income in McKenzie County in 2023?
In 2023, the median household income in McKenzie County, North Dakota was $91,601.
What was the median household income in McKenzie County in 2020?
In 2020, the median household income in McKenzie County, North Dakota was $75,403.
What is the Gini coefficient in McKenzie County, North Dakota?
The Gini coefficient in McKenzie County is 0.534. 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 McKenzie County, North Dakota?
Since 2009, the income gap between men and women in McKenzie County, North Dakota has widened from about 12% to 37% in 2023. In dollar terms, the gap has widened by $25,261 since 2009.