Wealth Index
Among the top 5 wealthiest 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 | Laramie County | Wyoming Avg | US Average |
|---|---|---|---|
| Median Household Income | $78,528 | $74,833 | $78,145 |
| Median Personal Income | $59,730 | $59,992 | $61,726 |
| Average income growth | 3.6% | 3.4% | 5.1% |
| Six-Figure Earners | 11.0% | 11.4% | 13.2% |
The median household income in Laramie County is about 5% higher than in Wyoming. Income has been growing faster in Laramie County (3.6%/yr) than in Wyoming (3.4%/yr).
About 11% of adults in Laramie County earn six figures ($100,000 or more) a year, about the same as the Wyoming average of 11%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Laramie County, Wyoming grew by 52.7% from 2009 to 2023, reaching $78,528 in 2023. That's an average of about 3.6% per year.
Economic Inequality in Laramie County | Gender Pay Gap | Gini Coefficient
| Metric | Laramie County | Wyoming Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.510 | 0.531 | 0.570 |
| Male Median Income | $66,435 | $68,774 | $67,746 |
| Female Median Income | $50,606 | $48,475 | $54,793 |
| Gender Pay Gap | 23.8% | 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 Laramie County, it is 0.510, lower than Wyoming's 0.531, 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 31% more than women's income in Laramie County, Wyoming. Over a 35-year career, a 31% wage gap accumulates to roughly $554,015 in unearned income for female workers in the area.
Income by Sex Over Time
The income gap between men and women in Laramie County, Wyoming has stayed about the same since 2009, at around 24%. In dollar terms, the gap has widened by $5,568 since 2009.
Employment
| Metric | Laramie County | Wyoming Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.1% | 3.7% | 5.2% |
| Working from Home | 8.4% | 8.5% | 13.4% |
| Commute time (minutes) | 15 | 13 | 22 |
Approximately 1,674 people are unemployed in Laramie County, Wyoming.
The average commute time in Laramie County is 15 minutes, longer than the 13 minutes in Wyoming.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Laramie County, Wyoming has fallen from 4.5% to 3.1% in 2023.
Conclusion
Considering all these factors, Laramie County, Wyoming has an overall wealth index grade of B, making it somewhat better than Wyoming, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Laramie County, Wyoming.
How Rich Is Laramie County, Wyoming?
Laramie 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 $78,528, about 5% higher than the Wyoming average of $74,833.
What is the current median household income in Laramie County, Wyoming?
As of 2023, the median household income in Laramie County, Wyoming is $78,528.
What was the median household income in Laramie County in 2023?
In 2023, the median household income in Laramie County, Wyoming was $78,528.
What was the median household income in Laramie County in 2020?
In 2020, the median household income in Laramie County, Wyoming was $69,672.
What is the Gini coefficient in Laramie County, Wyoming?
The Gini coefficient in Laramie County is 0.510. 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 Laramie County, Wyoming?
The income gap between men and women in Laramie County, Wyoming has stayed about the same since 2009, at around 24%. In dollar terms, the gap has widened by $5,568 since 2009.