by Kristen Carney
Updated: December 17, 2024
The richest county in Wyoming is Teton County with an average household income of $185,173 as of 2023 and 23,232 people as of 2023 according to the most current Census data available (citation).
Rank | County | Population | Average Income | Median Income |
---|---|---|---|---|
1 | Teton County | 23,232 | $185,173 | $112,681 |
2 | Sublette County | 8,969 | $128,783 | $82,791 |
3 | Campbell County | 47,498 | $105,583 | $95,253 |
4 | Lincoln County | 20,880 | $102,285 | $86,092 |
5 | Laramie County | 100,984 | $99,326 | $77,884 |
6 | Weston County | 6,808 | $98,625 | $87,545 |
7 | Sweetwater County | 41,249 | $98,608 | $76,464 |
8 | Natrona County | 79,941 | $95,793 | $71,247 |
9 | Park County | 30,735 | $94,064 | $70,533 |
10 | Converse County | 13,809 | $93,987 | $79,164 |
11 | Sheridan County | 32,519 | $90,918 | $70,855 |
12 | Uinta County | 20,745 | $89,995 | $82,672 |
13 | Crook County | 7,592 | $85,290 | $71,209 |
14 | Albany County | 38,257 | $84,861 | $59,881 |
15 | Johnson County | 8,759 | $84,353 | $63,905 |
16 | Carbon County | 14,334 | $83,412 | $66,721 |
17 | Fremont County | 39,815 | $82,157 | $64,646 |
18 | Platte County | 8,546 | $82,117 | $66,299 |
19 | Goshen County | 12,642 | $81,657 | $64,882 |
20 | Washakie County | 7,710 | $80,444 | $62,648 |
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:
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.
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.
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.
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.
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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, 2023 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 12 December 2024. http://www.census.gov/.
United States Census Bureau. B19013 Median Household Income, 2023 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 12 December 2024. http://www.census.gov/.
United States Census Bureau. “DP03 SELECTED ECONOMIC CHARACTERISTICS.” 2023 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 12 December 2024. http://www.census.gov/.
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