Wealth Index
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 | Sheridan County | Wyoming Avg | US Average |
|---|---|---|---|
| Median Household Income | $70,852 | $74,833 | $78,145 |
| Median Personal Income | $58,509 | $59,992 | $61,726 |
| Average income growth | 4.1% | 3.4% | 5.1% |
| Six-Figure Earners | 11.0% | 11.4% | 13.2% |
The median household income in Sheridan County is about 5% lower than in Wyoming. Income has been growing faster in Sheridan County (4.1%/yr) than in Wyoming (3.4%/yr).
About 11% of adults in Sheridan 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 Sheridan County, Wyoming grew by 55.1% from 2009 to 2023, reaching $70,852 in 2023. That's an average of about 4.1% per year.
Economic Inequality in Sheridan County | Gender Pay Gap | Gini Coefficient
| Metric | Sheridan County | Wyoming Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.509 | 0.531 | 0.570 |
| Male Median Income | $67,294 | $68,774 | $67,746 |
| Female Median Income | $46,889 | $48,475 | $54,793 |
| Gender Pay Gap | 30.3% | 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 Sheridan County, it is 0.509, 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 44% more than women's income in Sheridan County, Wyoming. Over a 35-year career, a 44% wage gap accumulates to roughly $714,175 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Sheridan County, Wyoming has widened from about 28% to 30% in 2023. In dollar terms, the gap has widened by $8,144 since 2009.
Employment
| Metric | Sheridan County | Wyoming Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.7% | 3.7% | 5.2% |
| Working from Home | 7.3% | 8.5% | 13.4% |
| Commute time (minutes) | 12 | 13 | 22 |
Approximately 430 people are unemployed in Sheridan County, Wyoming.
The average commute time in Sheridan County is 12 minutes, shorter than the 13 minutes in Wyoming.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Sheridan County, Wyoming has fallen from 3.3% to 2.7% in 2023.
Conclusion
Considering all these factors, Sheridan 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 Sheridan County, Wyoming.
How Rich Is Sheridan County, Wyoming?
Sheridan 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 $70,852, about 5% lower than the Wyoming average of $74,833.
What is the current median household income in Sheridan County, Wyoming?
As of 2023, the median household income in Sheridan County, Wyoming is $70,852.
What was the median household income in Sheridan County in 2023?
In 2023, the median household income in Sheridan County, Wyoming was $70,852.
What was the median household income in Sheridan County in 2020?
In 2020, the median household income in Sheridan County, Wyoming was $59,430.
What is the Gini coefficient in Sheridan County, Wyoming?
The Gini coefficient in Sheridan County is 0.509. 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 Sheridan County, Wyoming?
Since 2009, the income gap between men and women in Sheridan County, Wyoming has widened from about 28% to 30% in 2023. In dollar terms, the gap has widened by $8,144 since 2009.