Wealth Index
Among the 5 least wealthy 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 | De Baca County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Household Income | $41,410 | $62,378 | $78,145 |
| Median Personal Income | $47,692 | $53,658 | $61,726 |
| Average income growth | 4.0% | 4.6% | 5.1% |
| Six-Figure Earners | 2.1% | 9.5% | 13.2% |
The median household income in De Baca County is about 34% lower than in New Mexico. Income has been growing slower in De Baca County (4.0%/yr) than in New Mexico (4.6%/yr).
About 2% of adults in De Baca 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 De Baca County, New Mexico grew by 46.9% from 2009 to 2023, reaching $41,410 in 2023. That's an average of about 4.0% per year.
Economic Inequality in De Baca County | Gender Pay Gap | Gini Coefficient
| Metric | De Baca County | New Mexico Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.561 | 0.582 | 0.570 |
| Male Median Income | $60,832 | $58,181 | $67,746 |
| Female Median Income | $27,707 | $48,923 | $54,793 |
| Gender Pay Gap | 54.5% | 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 De Baca County, it is 0.561, 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 120% more than women's income in De Baca County, New Mexico. Over a 35-year career, a 120% wage gap accumulates to roughly $1,159,375 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in De Baca County, New Mexico has widened from about 38% to 54% in 2023. In dollar terms, the gap has widened by $20,541 since 2009.
Employment
| Metric | De Baca County | New Mexico Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 11.7% | 5.9% | 5.2% |
| Working from Home | 2.5% | 11.0% | 13.4% |
| Commute time (minutes) | 7 | 18 | 22 |
Approximately 87 people are unemployed in De Baca County, New Mexico.
The average commute time in De Baca County is 7 minutes, shorter than the 18 minutes in New Mexico.
Unemployment Rate Over Time
Since 2011, the unemployment rate in De Baca County, New Mexico has risen from 2.5% to 11.7% in 2023.
Conclusion
Considering all these factors, De Baca 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 De Baca County, New Mexico.
How Rich Is De Baca County, New Mexico?
De Baca 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 $41,410, about 34% lower than the New Mexico average of $62,378.
What is the current median household income in De Baca County, New Mexico?
As of 2023, the median household income in De Baca County, New Mexico is $41,410.
What was the median household income in De Baca County in 2023?
In 2023, the median household income in De Baca County, New Mexico was $41,410.
What was the median household income in De Baca County in 2020?
In 2020, the median household income in De Baca County, New Mexico was $32,210.
What is the Gini coefficient in De Baca County, New Mexico?
The Gini coefficient in De Baca County is 0.561. 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 De Baca County, New Mexico?
Since 2009, the income gap between men and women in De Baca County, New Mexico has widened from about 38% to 54% in 2023. In dollar terms, the gap has widened by $20,541 since 2009.