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 | Beaver County | Utah Avg | US Average |
|---|---|---|---|
| Median Household Income | $84,154 | $92,351 | $78,145 |
| Median Personal Income | $55,945 | $62,002 | $61,726 |
| Average income growth | 8.5% | 5.7% | 5.1% |
| Six-Figure Earners | 7.8% | 12.5% | 13.2% |
The median household income in Beaver County is about 9% lower than in Utah. Income has been growing faster in Beaver County (8.5%/yr) than in Utah (5.7%/yr).
About 8% of adults in Beaver County earn six figures ($100,000 or more) a year, lower than the Utah average of 13%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Beaver County, Utah grew by 114.6% from 2009 to 2023, reaching $84,154 in 2023. That's an average of about 8.5% per year.
Economic Inequality in Beaver County | Gender Pay Gap | Gini Coefficient
| Metric | Beaver County | Utah Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.527 | 0.571 | 0.570 |
| Male Median Income | $66,394 | $70,891 | $67,746 |
| Female Median Income | $47,101 | $50,597 | $54,793 |
| Gender Pay Gap | 29.1% | 28.6% | 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 Beaver County, it is 0.527, lower than Utah's 0.571, 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 41% more than women's income in Beaver County, Utah. Over a 35-year career, a 41% wage gap accumulates to roughly $675,255 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Beaver County, Utah has widened from about 23% to 29% in 2023. In dollar terms, the gap has widened by $11,108 since 2009.
Employment
| Metric | Beaver County | Utah Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.4% | 3.4% | 5.2% |
| Working from Home | 10.5% | 16.0% | 13.4% |
| Commute time (minutes) | 8 | 18 | 22 |
Approximately 76 people are unemployed in Beaver County, Utah.
The average commute time in Beaver County is 8 minutes, shorter than the 18 minutes in Utah.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Beaver County, Utah has fallen from 10.2% to 2.4% in 2023.
Conclusion
Considering all these factors, Beaver County, Utah has an overall wealth index grade of C, making it about on par with Utah, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Beaver County, Utah.
How Rich Is Beaver County, Utah?
Beaver County has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $84,154, about 9% lower than the Utah average of $92,351.
What is the current median household income in Beaver County, Utah?
As of 2023, the median household income in Beaver County, Utah is $84,154.
What was the median household income in Beaver County in 2023?
In 2023, the median household income in Beaver County, Utah was $84,154.
What was the median household income in Beaver County in 2020?
In 2020, the median household income in Beaver County, Utah was $67,784.
What is the Gini coefficient in Beaver County, Utah?
The Gini coefficient in Beaver County is 0.527. 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 Beaver County, Utah?
Since 2009, the income gap between men and women in Beaver County, Utah has widened from about 23% to 29% in 2023. In dollar terms, the gap has widened by $11,108 since 2009.