Richest Counties in Idaho (2024)

by Kristen Carney Kristen Carney

Updated: June 20, 2024

Richest County in Idaho

The richest county in Idaho is Teton County with an average household income of $115,438 as of 2022 and 12,549 people as of 2023 according to the most current Census data available (citation).

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20 Richest Counties in Idaho

Rank County Population Average Income Median Income
1 Teton County 12,549 $115,438 $88,906
2 Blaine County 25,041 $115,132 $81,794
3 Ada County 524,673 $113,335 $83,881
4 Valley County 12,644 $95,069 $72,878
5 Bonneville County 131,366 $94,934 $73,103
6 Kootenai County 185,010 $92,570 $71,949
7 Camas County 1,232 $92,141 $63,750
8 Jefferson County 34,198 $91,003 $77,491
9 Bingham County 50,395 $89,090 $69,433
10 Adams County 4,903 $85,710 $55,891
11 Nez Perce County 42,987 $84,952 $65,023
12 Madison County 54,547 $84,274 $53,025
13 Jerome County 25,479 $84,105 $67,347
14 Twin Falls County 95,156 $84,035 $61,183
15 Cassia County 25,696 $83,982 $63,525
16 Bonner County 52,547 $83,879 $61,816
17 Gem County 21,071 $83,872 $65,204
18 Latah County 41,301 $82,919 $62,258
19 Canyon County 257,674 $82,742 $68,473
20 Franklin County 15,494 $81,863 $61,679

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.

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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