Richest Counties in Colorado (2024)

by Kristen Carney Kristen Carney

Updated: June 20, 2024

Richest County in Colorado

The richest county in Colorado is Pitkin County with an average household income of $180,169 as of 2022 and 16,640 people as of 2023 according to the most current Census data available (citation).

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20 Richest Counties in Colorado

Rank County Population Average Income Median Income
1 Pitkin County 16,640 $180,169 $96,123
2 Douglas County 383,906 $169,322 $139,010
3 Elbert County 28,806 $150,842 $124,360
4 Broomfield County 76,860 $148,374 $117,541
5 Eagle County 54,381 $140,636 $98,887
6 Boulder County 326,831 $139,221 $99,770
7 Routt County 25,064 $134,020 $95,144
8 Summit County 30,465 $133,518 $100,611
9 Jefferson County 576,366 $130,332 $103,167
10 Arapahoe County 656,061 $126,187 $92,292
11 Gilpin County 5,926 $125,373 $95,902
12 Denver County 716,577 $122,771 $85,853
13 Clear Creek County 9,147 $121,173 $87,169
14 San Miguel County 7,868 $113,806 $72,829
15 Larimer County 370,771 $113,592 $87,199
16 Weld County 359,442 $109,274 $89,182
17 El Paso County 744,215 $106,872 $82,748
18 Park County 18,117 $105,999 $85,019
19 Adams County 533,365 $105,685 $86,297
20 La Plata County 56,407 $104,900 $81,936

Median Income versus Average Income: Which Should You Use?

We usually suggest using median income data – either instead of or in addition to – average income data as a true indicator of wealth. If you haven’t thought about median versus average since your last standardized test, you aren’t alone. Here’s what they are:

  • average is the sum of a set of numbers divided by the count of numbers in the set
  • median is the middle number in the set of numbers
illustation of median vs average

Now let’s say you had the following simplified set of income data.

Household 1: $30,000
Household 2: $50,000
Household 3: $1,000,000

The average income for this set is $360,000. The outlier data point ($1,000,000) skews the average WAY up. Conversely, the average income would be skewed WAY down if someone had an income of $500. The median income for the same data set is $50,000. Outlier data doesn’t skew the median.

Most Business Owners Should Use Median Income

So most business owners should use the median income as a true indicator of wealth, because it provides a more accurate representation of a typical income, especially in areas with significant income disparity.

When Should You Use Average Income

If your target market is high-income households, the average income may be more relevant. This is because the average income can highlight the presence of a higher concentration of wealthy individuals, which is beneficial for luxury goods and services marketing. We’re using average income on this page because using the Census’s highest reported median value of $250,001 could result in multiple ties for the richest geography.

Why do so many cities have a median value of $250,001?

The Census' American Community Survey uses $250,000+ as a jam value for median income estimates to protect privacy, ensure data consistency, and simplify reporting. A "jam value" in survey data refers to a placeholder or default value used when actual data points are unavailable, incomplete, or exceed certain thresholds. We represent this jam value as $250,001 to make it easy for you to sort.

Email Me When New Data Are Released

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SOURCES

United States Census Bureau. Annual Estimates of the Resident Population: April 1, 2020 to July 1, 2023. U.S. Census Bureau, Population Division. Web. May 2024. http://www.census.gov/.

United States Census Bureau. B01001 SEX BY AGE, 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 7 December 2023. http://www.census.gov/.

United States Census Bureau. B19013 Median Household Income, 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 7 December 2023. http://www.census.gov/.

United States Census Bureau. “DP03 SELECTED ECONOMIC CHARACTERISTICS.” 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 07 December 2023. http://www.census.gov/.

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