Study Ranks The Richest And Poorest Counties In Colorado

(CBS4) - Douglas County was ranked the richest county in Colorado in a Wall St. 24/7 study.

According to 2017 U.S. Census Bureau data, the median household income per year in Douglas County was $111,154. That's more than $45,000 higher than the statewide median household income -- which was $65,458 per year. The national average is $57,652, according to Wall St. 24/7.

"Douglas County residents are much more likely to work in certain high-paying professions than those who live in lower-income areas," researchers stated. "For instance, 12% of Douglas County's labor force works in either finance, insurance, or real estate — all of which tend to be better paying than the average job."

Nationwide, the percentage of workers employed in those fields is just 6.6%.

"And while Colorado's poverty rate of 11.5% is well below the 14.6% U.S. poverty rate, in Douglas County, the poverty rate is just 3.6%," researchers stated.

The study found the poorest county in Colorado is Otero County. The median household income in Otero County is just $35,051 and the poverty rate is 22.9%.

"Property values are typically a reflection of what area residents can afford, and in Otero County, the majority of homes are worth less than $100,000. For reference, the typical home in Colorado is worth $286,100," researchers stated.