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 | Washoe County | Nevada Avg | US Average |
|---|---|---|---|
| Median Household Income | $86,243 | $75,608 | $78,145 |
| Median Personal Income | $59,607 | $55,569 | $61,726 |
| Average income growth | 6.6% | 5.1% | 5.1% |
| Six-Figure Earners | 13.8% | 11.0% | 13.2% |
The median household income in Washoe County is about 14% higher than in Nevada. Income has been growing faster in Washoe County (6.6%/yr) than in Nevada (5.1%/yr).
About 14% of adults in Washoe County earn six figures ($100,000 or more) a year, higher than the Nevada average of 11%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Washoe County, Nevada grew by 54.0% from 2009 to 2023, reaching $86,243 in 2023. That's an average of about 6.6% per year.
Economic Inequality in Washoe County | Gender Pay Gap | Gini Coefficient
| Metric | Washoe County | Nevada Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.534 | 0.552 | 0.570 |
| Male Median Income | $64,494 | $60,195 | $67,746 |
| Female Median Income | $53,457 | $50,957 | $54,793 |
| Gender Pay Gap | 17.1% | 15.3% | 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 Washoe County, it is 0.534, lower than Nevada's 0.552, 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 21% more than women's income in Washoe County, Nevada. Over a 35-year career, a 21% wage gap accumulates to roughly $386,295 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Washoe County, Nevada has narrowed from about 23% to 17% in 2023. In dollar terms, the gap has widened by $236 since 2009.
Employment
| Metric | Washoe County | Nevada Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.0% | 6.8% | 5.2% |
| Working from Home | 11.2% | 10.5% | 13.4% |
| Commute time (minutes) | 20 | 22 | 22 |
Approximately 13,021 people are unemployed in Washoe County, Nevada.
The average commute time in Washoe County is 20 minutes, shorter than the 22 minutes in Nevada.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Washoe County, Nevada has fallen from 9.3% to 5.0% in 2023.
Conclusion
Considering all these factors, Washoe County, Nevada has an overall wealth index grade of B, making it somewhat better than Nevada, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Washoe County, Nevada.
How Rich Is Washoe County, Nevada?
Washoe 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 $86,243, about 14% higher than the Nevada average of $75,608.
What is the current median household income in Washoe County, Nevada?
As of 2023, the median household income in Washoe County, Nevada is $86,243.
What was the median household income in Washoe County in 2023?
In 2023, the median household income in Washoe County, Nevada was $86,243.
What was the median household income in Washoe County in 2020?
In 2020, the median household income in Washoe County, Nevada was $68,692.
What is the Gini coefficient in Washoe County, Nevada?
The Gini coefficient in Washoe County is 0.534. 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 Washoe County, Nevada?
Since 2009, the income gap between men and women in Washoe County, Nevada has narrowed from about 23% to 17% in 2023. In dollar terms, the gap has widened by $236 since 2009.