Wealth Index
Among the 5 least wealthy counties in Wyoming
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 | Fremont County | Wyoming Avg | US Average |
|---|---|---|---|
| Median Household Income | $65,729 | $74,833 | $78,145 |
| Median Personal Income | $50,182 | $59,992 | $61,726 |
| Average income growth | 3.0% | 3.4% | 5.1% |
| Six-Figure Earners | 7.3% | 11.4% | 13.2% |
The median household income in Fremont County is about 12% lower than in Wyoming. Income has been growing slower in Fremont County (3.0%/yr) than in Wyoming (3.4%/yr).
About 7% of adults in Fremont County earn six figures ($100,000 or more) a year, lower than the Wyoming average of 11%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Fremont County, Wyoming grew by 49.9% from 2009 to 2023, reaching $65,729 in 2023. That's an average of about 3.0% per year.
Economic Inequality in Fremont County | Gender Pay Gap | Gini Coefficient
| Metric | Fremont County | Wyoming Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.533 | 0.531 | 0.570 |
| Male Median Income | $57,630 | $68,774 | $67,746 |
| Female Median Income | $45,219 | $48,475 | $54,793 |
| Gender Pay Gap | 21.5% | 29.5% | 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 Fremont County, it is 0.533, about the same as Wyoming's 0.531, 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 27% more than women's income in Fremont County, Wyoming. Over a 35-year career, a 27% wage gap accumulates to roughly $434,385 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Fremont County, Wyoming has narrowed from about 30% to 22% in 2023. In dollar terms, the gap has narrowed by $200 since 2009.
Employment
| Metric | Fremont County | Wyoming Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 7.9% | 3.7% | 5.2% |
| Working from Home | 9.1% | 8.5% | 13.4% |
| Commute time (minutes) | 13 | 13 | 22 |
Approximately 1,502 people are unemployed in Fremont County, Wyoming.
The average commute time in Fremont County is 13 minutes, about the same as in Wyoming.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Fremont County, Wyoming has risen from 7.7% to 7.9% in 2023.
Conclusion
Considering all these factors, Fremont County, Wyoming has an overall wealth index grade of C, making it about on par with Wyoming, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Fremont County, Wyoming.
How Rich Is Fremont County, Wyoming?
Fremont 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 $65,729, about 12% lower than the Wyoming average of $74,833.
What is the current median household income in Fremont County, Wyoming?
As of 2023, the median household income in Fremont County, Wyoming is $65,729.
What was the median household income in Fremont County in 2023?
In 2023, the median household income in Fremont County, Wyoming was $65,729.
What was the median household income in Fremont County in 2020?
In 2020, the median household income in Fremont County, Wyoming was $54,909.
What is the Gini coefficient in Fremont County, Wyoming?
The Gini coefficient in Fremont County is 0.533. 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 Fremont County, Wyoming?
Since 2009, the income gap between men and women in Fremont County, Wyoming has narrowed from about 30% to 22% in 2023. In dollar terms, the gap has narrowed by $200 since 2009.