Wealth Index
Wealthiest county 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 | Williams County | North Dakota Avg | US Average |
|---|---|---|---|
| Median Household Income | $86,694 | $76,061 | $78,145 |
| Median Personal Income | $69,412 | $60,423 | $61,726 |
| Average income growth | -0.7% | 3.6% | 5.1% |
| Six-Figure Earners | 16.6% | 11.8% | 13.2% |
The median household income in Williams County is about 14% higher than in North Dakota. Income has been growing slower in Williams County (-0.7%/yr) than in North Dakota (3.6%/yr).
About 17% of adults in Williams 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 Williams County, North Dakota grew by 66.7% from 2009 to 2023, reaching $86,694 in 2023. That's an average of about 0.7% per year.
Economic Inequality in Williams County | Gender Pay Gap | Gini Coefficient
| Metric | Williams County | North Dakota Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.519 | 0.515 | 0.570 |
| Male Median Income | $83,166 | $67,015 | $67,746 |
| Female Median Income | $50,911 | $52,823 | $54,793 |
| Gender Pay Gap | 38.8% | 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 Williams County, it is 0.519, 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 63% more than women's income in Williams County, North Dakota. Over a 35-year career, a 63% wage gap accumulates to roughly $1,128,925 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Williams County, North Dakota has narrowed from about 45% to 39% in 2023. In dollar terms, the gap has widened by $8,963 since 2009.
Employment
| Metric | Williams County | North Dakota Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.5% | 2.8% | 5.2% |
| Working from Home | 3.2% | 7.3% | 13.4% |
| Commute time (minutes) | 15 | 13 | 22 |
Approximately 526 people are unemployed in Williams County, North Dakota.
The average commute time in Williams County is 15 minutes, longer than the 13 minutes in North Dakota.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Williams County, North Dakota has risen from 1.4% to 2.5% in 2023.
Conclusion
Considering all these factors, Williams County, North Dakota has an overall wealth index grade of A, making it somewhat better than North Dakota, and notably better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Williams County, North Dakota.
How Rich Is Williams County, North Dakota?
Williams County has a wealth index grade of A. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an A grade means residents are much better off than the U.S. average. The median household income is $86,694, about 14% higher than the North Dakota average of $76,061.
What is the current median household income in Williams County, North Dakota?
As of 2023, the median household income in Williams County, North Dakota is $86,694.
What was the median household income in Williams County in 2023?
In 2023, the median household income in Williams County, North Dakota was $86,694.
What was the median household income in Williams County in 2020?
In 2020, the median household income in Williams County, North Dakota was $81,704.
What is the Gini coefficient in Williams County, North Dakota?
The Gini coefficient in Williams County is 0.519. 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 Williams County, North Dakota?
Since 2009, the income gap between men and women in Williams County, North Dakota has narrowed from about 45% to 39% in 2023. In dollar terms, the gap has widened by $8,963 since 2009.