Wealth Index
Among the top 3 wealthiest counties in Vermont
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 | Lamoille County | Vermont Avg | US Average |
|---|---|---|---|
| Median Household Income | $71,778 | $78,253 | $78,145 |
| Median Personal Income | $55,475 | $62,394 | $61,726 |
| Average income growth | 4.4% | 4.8% | 5.1% |
| Six-Figure Earners | 11.0% | 11.6% | 13.2% |
The median household income in Lamoille County is about 8% lower than in Vermont. Income has been growing slower in Lamoille County (4.4%/yr) than in Vermont (4.8%/yr).
About 11% of adults in Lamoille County earn six figures ($100,000 or more) a year, lower than the Vermont average of 12%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Lamoille County, Vermont grew by 40.1% from 2009 to 2023, reaching $71,778 in 2023. That's an average of about 4.4% per year.
Economic Inequality in Lamoille County | Gender Pay Gap | Gini Coefficient
| Metric | Lamoille County | Vermont Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.514 | 0.519 | 0.570 |
| Male Median Income | $57,332 | $65,455 | $67,746 |
| Female Median Income | $53,378 | $58,889 | $54,793 |
| Gender Pay Gap | 6.9% | 10.0% | 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 Lamoille County, it is 0.514, about the same as Vermont's 0.519, so income here is about as evenly distributed as there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 7% more than women's income in Lamoille County, Vermont. Over a 35-year career, a 7% wage gap accumulates to roughly $138,390 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Lamoille County, Vermont has narrowed from about 24% to 7% in 2023. In dollar terms, the gap has narrowed by $6,090 since 2009.
Employment
| Metric | Lamoille County | Vermont Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.6% | 3.6% | 5.2% |
| Working from Home | 10.8% | 15.0% | 13.4% |
| Commute time (minutes) | 22 | 20 | 22 |
Approximately 533 people are unemployed in Lamoille County, Vermont.
The average commute time in Lamoille County is 22 minutes, longer than the 20 minutes in Vermont.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Lamoille County, Vermont has fallen from 4.9% to 3.6% in 2023.
Conclusion
Considering all these factors, Lamoille County, Vermont has an overall wealth index grade of B, making it somewhat better than Vermont, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Lamoille County, Vermont.
How Rich Is Lamoille County, Vermont?
Lamoille 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 $71,778, about 8% lower than the Vermont average of $78,253.
What is the current median household income in Lamoille County, Vermont?
As of 2023, the median household income in Lamoille County, Vermont is $71,778.
What was the median household income in Lamoille County in 2023?
In 2023, the median household income in Lamoille County, Vermont was $71,778.
What was the median household income in Lamoille County in 2020?
In 2020, the median household income in Lamoille County, Vermont was $63,712.
What is the Gini coefficient in Lamoille County, Vermont?
The Gini coefficient in Lamoille County is 0.514. 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 Lamoille County, Vermont?
Since 2009, the income gap between men and women in Lamoille County, Vermont has narrowed from about 24% to 7% in 2023. In dollar terms, the gap has narrowed by $6,090 since 2009.