Wealth Index
Less wealthy than 77% of 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 | Washakie County | Wyoming Avg | US Average |
|---|---|---|---|
| Median Household Income | $65,203 | $74,833 | $78,145 |
| Median Personal Income | $54,292 | $59,992 | $61,726 |
| Average income growth | 5.2% | 3.4% | 5.1% |
| Six-Figure Earners | 7.2% | 11.4% | 13.2% |
The median household income in Washakie County is about 13% lower than in Wyoming. Income has been growing faster in Washakie County (5.2%/yr) than in Wyoming (3.4%/yr).
About 7% of adults in Washakie 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 Washakie County, Wyoming grew by 38.7% from 2009 to 2023, reaching $65,203 in 2023. That's an average of about 5.2% per year.
Economic Inequality in Washakie County | Gender Pay Gap | Gini Coefficient
| Metric | Washakie County | Wyoming Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.515 | 0.531 | 0.570 |
| Male Median Income | $58,920 | $68,774 | $67,746 |
| Female Median Income | $43,175 | $48,475 | $54,793 |
| Gender Pay Gap | 26.7% | 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 Washakie County, it is 0.515, 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 36% more than women's income in Washakie County, Wyoming. Over a 35-year career, a 36% wage gap accumulates to roughly $551,075 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Washakie County, Wyoming has narrowed from about 30% to 27% in 2023. In dollar terms, the gap has widened by $2,867 since 2009.
Employment
| Metric | Washakie County | Wyoming Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.0% | 3.7% | 5.2% |
| Working from Home | 8.3% | 8.5% | 13.4% |
| Commute time (minutes) | 7 | 13 | 22 |
Approximately 81 people are unemployed in Washakie County, Wyoming.
The average commute time in Washakie County is 7 minutes, shorter than the 13 minutes in Wyoming.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Washakie County, Wyoming has fallen from 4.4% to 2.0% in 2023.
Conclusion
Considering all these factors, Washakie 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 Washakie County, Wyoming.
How Rich Is Washakie County, Wyoming?
Washakie 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 $65,203, about 13% lower than the Wyoming average of $74,833.
What is the current median household income in Washakie County, Wyoming?
As of 2023, the median household income in Washakie County, Wyoming is $65,203.
What was the median household income in Washakie County in 2023?
In 2023, the median household income in Washakie County, Wyoming was $65,203.
What was the median household income in Washakie County in 2020?
In 2020, the median household income in Washakie County, Wyoming was $56,939.
What is the Gini coefficient in Washakie County, Wyoming?
The Gini coefficient in Washakie County is 0.515. 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 Washakie County, Wyoming?
Since 2009, the income gap between men and women in Washakie County, Wyoming has narrowed from about 30% to 27% in 2023. In dollar terms, the gap has widened by $2,867 since 2009.