Wealth Index
Among the 3 least wealthy counties in Washington
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 | Ferry County | Washington Avg | US Average |
|---|---|---|---|
| Median Household Income | $55,575 | $95,177 | $78,145 |
| Median Personal Income | $56,467 | $74,356 | $61,726 |
| Average income growth | 5.1% | 6.0% | 5.1% |
| Six-Figure Earners | 6.4% | 18.1% | 13.2% |
The median household income in Ferry County is about 42% lower than in Washington. Income has been growing slower in Ferry County (5.1%/yr) than in Washington (6.0%/yr).
About 6% of adults in Ferry County earn six figures ($100,000 or more) a year, lower than the Washington average of 18%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Ferry County, Washington grew by 53.6% from 2009 to 2023, reaching $55,575 in 2023. That's an average of about 5.1% per year.
Economic Inequality in Ferry County | Gender Pay Gap | Gini Coefficient
| Metric | Ferry County | Washington Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.574 | 0.554 | 0.570 |
| Male Median Income | $63,826 | $82,830 | $67,746 |
| Female Median Income | $50,565 | $65,517 | $54,793 |
| Gender Pay Gap | 20.8% | 20.9% | 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 Ferry County, it is 0.574, higher than Washington's 0.554, so income is less evenly distributed here than there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 26% more than women's income in Ferry County, Washington. Over a 35-year career, a 26% wage gap accumulates to roughly $464,135 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Ferry County, Washington has narrowed from about 24% to 21% in 2023. In dollar terms, the gap has widened by $3,391 since 2009.
Employment
| Metric | Ferry County | Washington Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 10.1% | 4.9% | 5.2% |
| Working from Home | 14.5% | 17.7% | 13.4% |
| Commute time (minutes) | 16 | 22 | 22 |
Approximately 277 people are unemployed in Ferry County, Washington.
The average commute time in Ferry County is 16 minutes, shorter than the 22 minutes in Washington.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Ferry County, Washington has fallen from 13.0% to 10.1% in 2023.
Conclusion
Considering all these factors, Ferry County, Washington has an overall wealth index grade of D, making it somewhat worse than Washington, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Ferry County, Washington.
How Rich Is Ferry County, Washington?
Ferry County has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $55,575, about 42% lower than the Washington average of $95,177.
What is the current median household income in Ferry County, Washington?
As of 2023, the median household income in Ferry County, Washington is $55,575.
What was the median household income in Ferry County in 2023?
In 2023, the median household income in Ferry County, Washington was $55,575.
What was the median household income in Ferry County in 2020?
In 2020, the median household income in Ferry County, Washington was $41,336.
What is the Gini coefficient in Ferry County, Washington?
The Gini coefficient in Ferry County is 0.574. 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 Ferry County, Washington?
Since 2009, the income gap between men and women in Ferry County, Washington has narrowed from about 24% to 21% in 2023. In dollar terms, the gap has widened by $3,391 since 2009.