Wealth Index
Less wealthy than 84% of counties in New Mexico
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 | Catron County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Household Income | $46,438 | $62,378 | $78,145 |
| Median Personal Income | $37,833 | $53,658 | $61,726 |
| Average income growth | 3.4% | 4.6% | 5.1% |
| Six-Figure Earners | 3.5% | 9.5% | 13.2% |
The median household income in Catron County is about 26% lower than in New Mexico. Income has been growing slower in Catron County (3.4%/yr) than in New Mexico (4.6%/yr).
About 4% of adults in Catron County earn six figures ($100,000 or more) a year, lower than the New Mexico average of 9%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Catron County, New Mexico grew by 51.3% from 2009 to 2023, reaching $46,438 in 2023. That's an average of about 3.4% per year.
Economic Inequality in Catron County | Gender Pay Gap | Gini Coefficient
| Metric | Catron County | New Mexico Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.539 | 0.582 | 0.570 |
| Male Median Income | $47,774 | $58,181 | $67,746 |
| Female Median Income | $32,921 | $48,923 | $54,793 |
| Gender Pay Gap | 31.1% | 15.9% | 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 Catron County, it is 0.539, lower than New Mexico's 0.582, 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 45% more than women's income in Catron County, New Mexico. Over a 35-year career, a 45% wage gap accumulates to roughly $519,855 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Catron County, New Mexico has narrowed from about 34% to 31% in 2023. In dollar terms, the gap has widened by $2,411 since 2009.
Employment
| Metric | Catron County | New Mexico Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 7.1% | 5.9% | 5.2% |
| Working from Home | 21.1% | 11.0% | 13.4% |
| Commute time (minutes) | 13 | 18 | 22 |
Approximately 83 people are unemployed in Catron County, New Mexico.
The average commute time in Catron County is 13 minutes, shorter than the 18 minutes in New Mexico.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Catron County, New Mexico has fallen from 7.9% to 7.1% in 2023.
Conclusion
Considering all these factors, Catron County, New Mexico has an overall wealth index grade of D, making it somewhat worse than New Mexico, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Catron County, New Mexico.
How Rich Is Catron County, New Mexico?
Catron 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 $46,438, about 26% lower than the New Mexico average of $62,378.
What is the current median household income in Catron County, New Mexico?
As of 2023, the median household income in Catron County, New Mexico is $46,438.
What was the median household income in Catron County in 2023?
In 2023, the median household income in Catron County, New Mexico was $46,438.
What was the median household income in Catron County in 2020?
In 2020, the median household income in Catron County, New Mexico was $35,782.
What is the Gini coefficient in Catron County, New Mexico?
The Gini coefficient in Catron County is 0.539. 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 Catron County, New Mexico?
Since 2009, the income gap between men and women in Catron County, New Mexico has narrowed from about 34% to 31% in 2023. In dollar terms, the gap has widened by $2,411 since 2009.