Wealth Index
Among the top 3 wealthiest counties in Utah
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 | Wasatch County | Utah Avg | US Average |
|---|---|---|---|
| Median Household Income | $113,994 | $92,351 | $78,145 |
| Median Personal Income | $72,558 | $62,002 | $61,726 |
| Average income growth | 6.9% | 5.7% | 5.1% |
| Six-Figure Earners | 19.3% | 12.5% | 13.2% |
The median household income in Wasatch County is about 23% higher than in Utah. Income has been growing faster in Wasatch County (6.9%/yr) than in Utah (5.7%/yr).
About 19% of adults in Wasatch County earn six figures ($100,000 or more) a year, higher than the Utah average of 13%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Wasatch County, Utah grew by 82.3% from 2009 to 2023, reaching $113,994 in 2023. That's an average of about 6.9% per year.
Economic Inequality in Wasatch County | Gender Pay Gap | Gini Coefficient
| Metric | Wasatch County | Utah Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.559 | 0.571 | 0.570 |
| Male Median Income | $85,978 | $70,891 | $67,746 |
| Female Median Income | $51,396 | $50,597 | $54,793 |
| Gender Pay Gap | 40.2% | 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 Wasatch County, it is 0.559, 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 67% more than women's income in Wasatch County, Utah. Over a 35-year career, a 67% wage gap accumulates to roughly $1,210,370 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Wasatch County, Utah has widened from about 36% to 40% in 2023. In dollar terms, the gap has widened by $16,129 since 2009.
Employment
| Metric | Wasatch County | Utah Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.4% | 3.4% | 5.2% |
| Working from Home | 18.1% | 16.0% | 13.4% |
| Commute time (minutes) | 21 | 18 | 22 |
Approximately 443 people are unemployed in Wasatch County, Utah.
The average commute time in Wasatch County is 21 minutes, longer than the 18 minutes in Utah.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Wasatch County, Utah has fallen from 4.7% to 2.4% in 2023.
Conclusion
Considering all these factors, Wasatch County, Utah has an overall wealth index grade of B, making it somewhat better than Utah, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Wasatch County, Utah.
How Rich Is Wasatch County, Utah?
Wasatch 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 $113,994, about 23% higher than the Utah average of $92,351.
What is the current median household income in Wasatch County, Utah?
As of 2023, the median household income in Wasatch County, Utah is $113,994.
What was the median household income in Wasatch County in 2023?
In 2023, the median household income in Wasatch County, Utah was $113,994.
What was the median household income in Wasatch County in 2020?
In 2020, the median household income in Wasatch County, Utah was $85,675.
What is the Gini coefficient in Wasatch County, Utah?
The Gini coefficient in Wasatch County is 0.559. 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 Wasatch County, Utah?
Since 2009, the income gap between men and women in Wasatch County, Utah has widened from about 36% to 40% in 2023. In dollar terms, the gap has widened by $16,129 since 2009.