Chaves County, New Mexico Income Statistics
Chaves County Wealth Score
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.
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D
Chaves County Well below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Chaves County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Household Income | $52,973 | $64,523 | $80,455 |
| Median Personal Income | $43,065 | $52,404 | $60,758 |
| Average Yearly Income Growth | 3.1% | 4.4% | 4.8% |
| Six-Figure Earners | 6.0% | 10.2% | 13.9% |
| $200k+ Households | 4.2% | 7.8% | 13.2% |
The median household income in Chaves County is about 18% lower than in New Mexico. Income has been growing slower in Chaves County (3.1%/yr) than in New Mexico (4.4%/yr).
About 6% of adults in Chaves County earn six figures ($100,000 or more) a year, lower than the New Mexico average of 10%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Chaves County, New Mexico grew by 44.8% from 2009 to 2024, reaching $52,973 in 2024. That's an average of about 3.1% per year.
Income Inequality and the Gender Pay Gap in Chaves County
| Metric | Chaves County | New Mexico Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.581 | 0.567 | 0.552 |
| Male Median Income | $50,198 | $60,037 | $69,667 |
| Female Median Income | $41,647 | $51,390 | $56,850 |
| Gender Pay Gap | 17.0% | 14.4% | 18.4% |
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 Chaves County, it is 0.581, higher than New Mexico's 0.567, so income is less evenly distributed here than there, and higher than the US's 0.552, so income is less evenly distributed here than there.
Men's income is about 21% more than women's income in Chaves County, New Mexico. Over a 35-year career, a 21% wage gap accumulates to roughly $299,285 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Chaves County, New Mexico has narrowed from about 30% to 17% in 2024. Over that period the gap was narrowest at 14% in 2023. In dollar terms, the gap has narrowed by $2,474 since 2009.
Employment
| Metric | Chaves County | New Mexico Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.0% | 5.9% | 5.2% |
| Working from Home | 5.4% | 12.2% | 15.0% |
| Commute time (minutes) | 15 | 18 | 22 |
Approximately 1,408 people are unemployed in Chaves County, New Mexico.
The average commute time in Chaves County is 15 minutes, shorter than the 18 minutes in New Mexico.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Chaves County, New Mexico has fallen from 5.8% to 5.0% in 2024. Over that period the rate peaked at 7.6% in 2015.
Chaves County, NM Wealth Compared With Nearby Counties
Chaves County, NM is the 2nd largest of the 6 counties compared here, 64,216 residents against a local median of 20,223. Chaves County, NM's income growth, at 3.1%/yr, runs 18% below the 3.8%/yr typical of the counties around it. That is the weaker end of the local range on this measure.
The counties themselves spread 4.0%/yr on income growth, so Chaves County, NM sits at one end of an already wide local range rather than apart from it. Chaves County, NM has the 5th highest income growth of the 6 areas compared here.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Chaves County, NM | 64,216 | $52,973 #5/6 | 3.1%/yr #5/6 | 5.0% #1/6 | 0.581 #5/6 |
| Eddy County, NM | 61,104 | $77,819 | 3.6%/yr | 5.5% | 0.571 |
| De Baca County, NM | 1,576 | $46,907 | 5.1%/yr | 8.4% | 0.448 |
| Lincoln County, NM | 20,223 | $53,596 | 3.8%/yr | 5.1% | 0.529 |
| Roosevelt County, NM | 18,922 | $54,364 | 5.8%/yr | 5.2% | 0.548 |
| Lea County, NM | 73,733 | $67,016 | 1.8%/yr | 6.9% | 0.619 |
Conclusion
Considering all these factors, Chaves County, New Mexico has an overall wealth index grade of D, making it about on par with New Mexico, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Chaves County, New Mexico.
How Rich Is Chaves County, New Mexico?
Chaves 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 $52,973, about 18% lower than the New Mexico average of $64,523.
How fast is household income rising in Chaves County, New Mexico?
Between 2009 and 2024, the median household income in Chaves County, New Mexico rose 45%, from $36,578 to $52,973. Over the same years, income here lagged behind New Mexico as a whole: +45% against +50%.
What was the median household income in Chaves County in 2023?
In 2023, the median household income in Chaves County, New Mexico was $52,795, up 6% from $49,625 in 2022. The New Mexico median that year was $62,406.
What was the median household income in Chaves County in 2020?
In 2020, the median household income in Chaves County, New Mexico was $46,769. By 2024 it had risen 13% to $52,973.
What is the Gini coefficient in Chaves County, New Mexico?
The Gini coefficient in Chaves County is 0.581. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.552, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Chaves County, New Mexico?
Since 2009, the income gap between men and women in Chaves County, New Mexico has narrowed from about 30% to 17% in 2024. Over that period the gap was narrowest at 14% in 2023. In dollar terms, the gap has narrowed by $2,474 since 2009.
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