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 | Sweetwater County | Wyoming Avg | US Average |
|---|---|---|---|
| Median Household Income | $76,670 | $74,833 | $78,145 |
| Median Personal Income | $63,753 | $59,992 | $61,726 |
| Average income growth | 1.6% | 3.4% | 5.1% |
| Six-Figure Earners | 12.7% | 11.4% | 13.2% |
The median household income in Sweetwater County is about 2% higher than in Wyoming. Income has been growing slower in Sweetwater County (1.6%/yr) than in Wyoming (3.4%/yr).
About 13% of adults in Sweetwater County earn six figures ($100,000 or more) a year, higher than the Wyoming average of 11%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Sweetwater County, Wyoming grew by 14.1% from 2009 to 2023, reaching $76,670 in 2023. That's an average of about 1.6% per year.
Economic Inequality in Sweetwater County | Gender Pay Gap | Gini Coefficient
| Metric | Sweetwater County | Wyoming Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.555 | 0.531 | 0.570 |
| Male Median Income | $78,349 | $68,774 | $67,746 |
| Female Median Income | $50,213 | $48,475 | $54,793 |
| Gender Pay Gap | 35.9% | 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 Sweetwater County, it is 0.555, higher than Wyoming's 0.531, so income is less 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 56% more than women's income in Sweetwater County, Wyoming. Over a 35-year career, a 56% wage gap accumulates to roughly $984,760 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Sweetwater County, Wyoming has narrowed from about 53% to 36% in 2023. In dollar terms, the gap has narrowed by $6,110 since 2009.
Employment
| Metric | Sweetwater County | Wyoming Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.8% | 3.7% | 5.2% |
| Working from Home | 2.8% | 8.5% | 13.4% |
| Commute time (minutes) | 15 | 13 | 22 |
Approximately 1,254 people are unemployed in Sweetwater County, Wyoming.
The average commute time in Sweetwater County is 15 minutes, longer than the 13 minutes in Wyoming.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Sweetwater County, Wyoming has risen from 5.3% to 5.8% in 2023.
Conclusion
Considering all these factors, Sweetwater 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 Sweetwater County, Wyoming.
How Rich Is Sweetwater County, Wyoming?
Sweetwater 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 $76,670, about 2% higher than the Wyoming average of $74,833.
What is the current median household income in Sweetwater County, Wyoming?
As of 2023, the median household income in Sweetwater County, Wyoming is $76,670.
What was the median household income in Sweetwater County in 2023?
In 2023, the median household income in Sweetwater County, Wyoming was $76,670.
What was the median household income in Sweetwater County in 2020?
In 2020, the median household income in Sweetwater County, Wyoming was $73,908.
What is the Gini coefficient in Sweetwater County, Wyoming?
The Gini coefficient in Sweetwater County is 0.555. 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 Sweetwater County, Wyoming?
Since 2009, the income gap between men and women in Sweetwater County, Wyoming has narrowed from about 53% to 36% in 2023. In dollar terms, the gap has narrowed by $6,110 since 2009.