Wealth Index
Among the top 3 wealthiest 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 | Santa Fe County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Household Income | $74,735 | $62,378 | $78,145 |
| Median Personal Income | $60,189 | $53,658 | $61,726 |
| Average income growth | 4.4% | 4.6% | 5.1% |
| Six-Figure Earners | 14.3% | 9.5% | 13.2% |
The median household income in Santa Fe County is about 20% higher than in New Mexico. Income has been growing slower in Santa Fe County (4.4%/yr) than in New Mexico (4.6%/yr).
About 14% of adults in Santa Fe County earn six figures ($100,000 or more) a year, higher than the New Mexico average of 9%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Santa Fe County, New Mexico grew by 40.8% from 2009 to 2023, reaching $74,735 in 2023. That's an average of about 4.4% per year.
Economic Inequality in Santa Fe County | Gender Pay Gap | Gini Coefficient
| Metric | Santa Fe County | New Mexico Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.555 | 0.582 | 0.570 |
| Male Median Income | $64,545 | $58,181 | $67,746 |
| Female Median Income | $55,085 | $48,923 | $54,793 |
| Gender Pay Gap | 14.7% | 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 Santa Fe County, it is 0.555, 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 17% more than women's income in Santa Fe County, New Mexico. Over a 35-year career, a 17% wage gap accumulates to roughly $331,100 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Santa Fe County, New Mexico has widened from about 8% to 15% in 2023. In dollar terms, the gap has widened by $6,143 since 2009.
Employment
| Metric | Santa Fe County | New Mexico Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.4% | 5.9% | 5.2% |
| Working from Home | 17.0% | 11.0% | 13.4% |
| Commute time (minutes) | 20 | 18 | 22 |
Approximately 4,114 people are unemployed in Santa Fe County, New Mexico.
The average commute time in Santa Fe County is 20 minutes, longer than the 18 minutes in New Mexico.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Santa Fe County, New Mexico has fallen from 7.9% to 5.4% in 2023.
Conclusion
Considering all these factors, Santa Fe County, New Mexico has an overall wealth index grade of B, making it somewhat better than New Mexico, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Santa Fe County, New Mexico.
How Rich Is Santa Fe County, New Mexico?
Santa Fe County has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $74,735, about 20% higher than the New Mexico average of $62,378.
What is the current median household income in Santa Fe County, New Mexico?
As of 2023, the median household income in Santa Fe County, New Mexico is $74,735.
What was the median household income in Santa Fe County in 2023?
In 2023, the median household income in Santa Fe County, New Mexico was $74,735.
What was the median household income in Santa Fe County in 2020?
In 2020, the median household income in Santa Fe County, New Mexico was $60,622.
What is the Gini coefficient in Santa Fe County, New Mexico?
The Gini coefficient in Santa Fe County is 0.555. 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 Santa Fe County, New Mexico?
Since 2009, the income gap between men and women in Santa Fe County, New Mexico has widened from about 8% to 15% in 2023. In dollar terms, the gap has widened by $6,143 since 2009.