Wealth Index
Among the 5 least wealthy 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 | Sheridan County | North Dakota Avg | US Average |
|---|---|---|---|
| Median Household Income | $69,344 | $76,061 | $78,145 |
| Median Personal Income | $54,112 | $60,423 | $61,726 |
| Average income growth | 5.3% | 3.6% | 5.1% |
| Six-Figure Earners | 8.0% | 11.8% | 13.2% |
The median household income in Sheridan County is about 9% lower than in North Dakota. Income has been growing faster in Sheridan County (5.3%/yr) than in North Dakota (3.6%/yr).
About 8% of adults in Sheridan 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 Sheridan County, North Dakota grew by 91.8% from 2009 to 2023, reaching $69,344 in 2023. That's an average of about 5.3% per year.
Economic Inequality in Sheridan County | Gender Pay Gap | Gini Coefficient
| Metric | Sheridan County | North Dakota Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.512 | 0.515 | 0.570 |
| Male Median Income | $58,124 | $67,015 | $67,746 |
| Female Median Income | $45,249 | $52,823 | $54,793 |
| Gender Pay Gap | 22.2% | 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 Sheridan County, it is 0.512, about the same as North Dakota's 0.515, so income here is about as evenly distributed as there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 28% more than women's income in Sheridan County, North Dakota. Over a 35-year career, a 28% wage gap accumulates to roughly $450,625 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Sheridan County, North Dakota has widened from about 11% to 22% in 2023. In dollar terms, the gap has widened by $9,504 since 2009.
Employment
| Metric | Sheridan County | North Dakota Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 1.1% | 2.8% | 5.2% |
| Working from Home | 8.8% | 7.3% | 13.4% |
| Commute time (minutes) | 16 | 13 | 22 |
Approximately 7 people are unemployed in Sheridan County, North Dakota.
The average commute time in Sheridan County is 16 minutes, longer than the 13 minutes in North Dakota.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Sheridan County, North Dakota has fallen from 2.8% to 1.1% in 2023.
Conclusion
Considering all these factors, Sheridan County, North Dakota has an overall wealth index grade of C, making it somewhat worse than North Dakota, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Sheridan County, North Dakota.
How Rich Is Sheridan County, North Dakota?
Sheridan County has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $69,344, about 9% lower than the North Dakota average of $76,061.
What is the current median household income in Sheridan County, North Dakota?
As of 2023, the median household income in Sheridan County, North Dakota is $69,344.
What was the median household income in Sheridan County in 2023?
In 2023, the median household income in Sheridan County, North Dakota was $69,344.
What was the median household income in Sheridan County in 2020?
In 2020, the median household income in Sheridan County, North Dakota was $55,499.
What is the Gini coefficient in Sheridan County, North Dakota?
The Gini coefficient in Sheridan County is 0.512. 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 Sheridan County, North Dakota?
Since 2009, the income gap between men and women in Sheridan County, North Dakota has widened from about 11% to 22% in 2023. In dollar terms, the gap has widened by $9,504 since 2009.