Wealth Index
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 | Rio Arriba County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Household Income | $53,867 | $62,378 | $78,145 |
| Median Personal Income | $50,192 | $53,658 | $61,726 |
| Average income growth | 6.5% | 4.6% | 5.1% |
| Six-Figure Earners | 7.0% | 9.5% | 13.2% |
The median household income in Rio Arriba County is about 14% lower than in New Mexico. Income has been growing faster in Rio Arriba County (6.5%/yr) than in New Mexico (4.6%/yr).
About 7% of adults in Rio Arriba 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 Rio Arriba County, New Mexico grew by 28.0% from 2009 to 2023, reaching $53,867 in 2023. That's an average of about 6.5% per year.
Economic Inequality in Rio Arriba County | Gender Pay Gap | Gini Coefficient
| Metric | Rio Arriba County | New Mexico Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.600 | 0.582 | 0.570 |
| Male Median Income | $56,319 | $58,181 | $67,746 |
| Female Median Income | $44,735 | $48,923 | $54,793 |
| Gender Pay Gap | 20.6% | 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 Rio Arriba County, it is 0.600, higher than New Mexico's 0.582, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 26% more than women's income in Rio Arriba County, New Mexico. Over a 35-year career, a 26% wage gap accumulates to roughly $405,440 in unearned income for female workers in the area.
Income by Sex Over Time
The income gap between men and women in Rio Arriba County, New Mexico has stayed about the same since 2009, at around 21%. In dollar terms, the gap has widened by $3,373 since 2009.
Employment
| Metric | Rio Arriba County | New Mexico Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.1% | 5.9% | 5.2% |
| Working from Home | 9.3% | 11.0% | 13.4% |
| Commute time (minutes) | 23 | 18 | 22 |
Approximately 853 people are unemployed in Rio Arriba County, New Mexico.
The average commute time in Rio Arriba County is 23 minutes, longer than the 18 minutes in New Mexico.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Rio Arriba County, New Mexico has fallen from 12.2% to 5.1% in 2023.
Conclusion
Considering all these factors, Rio Arriba 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 Rio Arriba County, New Mexico.
How Rich Is Rio Arriba County, New Mexico?
Rio Arriba 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 $53,867, about 14% lower than the New Mexico average of $62,378.
What is the current median household income in Rio Arriba County, New Mexico?
As of 2023, the median household income in Rio Arriba County, New Mexico is $53,867.
What was the median household income in Rio Arriba County in 2023?
In 2023, the median household income in Rio Arriba County, New Mexico was $53,867.
What was the median household income in Rio Arriba County in 2020?
In 2020, the median household income in Rio Arriba County, New Mexico was $42,249.
What is the Gini coefficient in Rio Arriba County, New Mexico?
The Gini coefficient in Rio Arriba County is 0.600. 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 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Rio Arriba County, New Mexico?
The income gap between men and women in Rio Arriba County, New Mexico has stayed about the same since 2009, at around 21%. In dollar terms, the gap has widened by $3,373 since 2009.