Wealth Index
The wealth index reflects the overall economic prosperity and financial well-being of a state's residents based on income levels, employment rates, and income inequality metrics.
Wealthiest and Least Wealthy Counties in Utah
- Summit County (128% of U.S. avg)
- Wasatch County (114% of U.S. avg)
- Morgan County (112% of U.S. avg)
- Piute County (77% of U.S. avg)
- Sanpete County (81% of U.S. avg)
- San Juan County (82% of U.S. avg)
Ranked by the Map AI Wealth Index, which combines income, employment, and income inequality metrics.
Income Statistics Overview
| Metric | Utah | US Average |
|---|---|---|
| Median Household Income | $92,351 | $78,145 |
| Median Personal Income | $62,002 | $61,726 |
| Average income growth | 5.7% | 5.1% |
| Six-Figure Earners | 12.5% | 13.2% |
The median household income in Utah is about 18% higher than in US. Income has been growing faster in Utah (5.7%/yr) than in US (5.1%/yr).
About 13% of adults in Utah earn six figures ($100,000 or more) a year, lower than the US average of 13%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Utah grew by 65.2% from 2009 to 2023, reaching $92,351 in 2023. That's an average of about 5.7% per year.
Economic Inequality in Utah | Gender Pay Gap | Gini Coefficient
| Metric | Utah | US Average |
|---|---|---|
| Gini Coefficient | 0.571 | 0.570 |
| Male Median Income | $70,891 | $67,746 |
| Female Median Income | $50,597 | $54,793 |
| Gender Pay Gap | 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 Utah, it is 0.571, about the same as US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 40% more than women's income in Utah. Over a 35-year career, a 40% wage gap accumulates to roughly $710,290 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Utah has narrowed from about 30% to 29% in 2023. In dollar terms, the gap has widened by $6,350 since 2009.
Employment
| Metric | Utah | US Average |
|---|---|---|
| Unemployment Rate | 3.4% | 5.2% |
| Working from Home | 16.0% | 13.4% |
| Commute time (minutes) | 18 | 22 |
Approximately 59,132 people are unemployed in Utah.
The average commute time in Utah is 18 minutes, shorter than the 22 minutes in US.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Utah has fallen from 6.5% to 3.4% in 2023.
Conclusion
Considering all these factors, Utah has an overall wealth index grade of B, making it somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Utah.
How Wealthy Is Utah?
Utah 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 $92,351, about 18% higher than the US average of $78,145.
What is the current median household income in Utah?
As of 2023, the median household income in Utah is $92,351.
What was the median household income in Utah in 2023?
In 2023, the median household income in Utah was $92,351.
What was the median household income in Utah in 2020?
In 2020, the median household income in Utah was $74,247.
What is the Gini coefficient in Utah?
The Gini coefficient in Utah is 0.571. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Utah?
Since 2009, the income gap between men and women in Utah has narrowed from about 30% to 29% in 2023. In dollar terms, the gap has widened by $6,350 since 2009.