Edwards CDP Colorado Income Charts

This section shows the Edwards CDP Colorado economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Edwards CDP shows it has a Median earnings of $61,129 which is more than all other places in the greater Edwards CDP region. Comparing median earnings per worker to the United States average of $53,269, Edwards CDP is 14.8% larger. Also, in comparison with the state of Colorado, median earnings per worker of $57,852, Edwards CDP is only about 5.7% larger.

In Figure 2 a more complete view of income is shown which aggregates income from all members in the household and it has a Median household income of $80,035 which is less than most other places in the greater region. The place with the highest median household income in the area is Minturn which shows a median income of $101,950 (27.4% larger). Comparing median household income to the United States average of $69,021, Edwards CDP is 16.0% larger. Also, measured against the state of Colorado, median household income of $80,184, Edwards CDP is about the same size.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 38.6 which is less than most other places in the local area. The place with the highest average hours in the area is Gypsum which depicts an average hours of 41.1 (6.5% larger). Dividing median annual worker earnings by the average number of hours worked in a year in Figure 6 shows that it has a Avg Hrly Earnings of $30.45 which is at the top of all other places in the greater Edwards CDP region. Comparing average hourly earnings to the United States average of $26.40, Edwards CDP is 15.3% larger. Also, measured against the state of Colorado, average hourly earnings of $28.53, Edwards CDP is 6.8% larger.

Figure 7 examines the number of self employed people in the Edwards CDP metro area based on the number of people who reported any self employment income. Edwards CDP depicts it has a Self Employed of 10.6% which is less than most other places in the local area. The place with the highest percentage of people self employed in the area is Eagle which shows a percentage self employed of 16.2% (53.1% larger).

Turning our attention to Figure 8, the median household income by age group, has the percentage of median income-under 25 years the second smallest as measured by median income for those under 25 years of age of all the other places in the local area at $68,906 of the total. Second, it has the second smallest when ranked by median income for those under 25 years of age of all the other places in the surrounding region as measured by median income-25 to 44 years at $76,625 of the total. Third, it has one of the largest proportions of median income-45 to 64 years at $93,032 of the total and is ranked #2. The only larger place being Vail with $105,379.

Figure 9 breaks down the source of income and Edwards CDP has one of the largest proportions of self employment income at 27.0% of the total and is ranked #2. The only larger place being Vail with 27.4%. Second, it has the largest proportion of social security at 0.2% of the total and is ranked #1.

The next chart (Figure 11) shows the percentage of households that had retirement income over the last 12 months and it has a With Retirement Income of 15.5% which is more than all other places in the greater Edwards CDP region.

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and it has one of the largest proportions of overall family income at $111,071 of the total and is ranked #3. Only #2 Avon ($124,063), and #1 Vail ($130,893) are larger. Second, it has the largest proportion of american indian family income at $165,859 of the total and is ranked #1. Third, it has less than most other places in the local area in order of hawaiian family income at $49,883 of the total.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Edwards CDP depicts it has the hightest cost of 260.9 for the cost of housing classification.

Edwards CDP Colorado Labor Force Charts

The next two charts look at very recent, monthly trended employment related performance using data estimated by economists at the Bureau of Labor Statistics (BLS). The BLS tracks unemployment statistics for a large number of areas throughout the country on a month to month basis. However, not every location in the U.S. is tracked by the BLS so the chart will only show the closest location available (which may be the same location.) Figure 14 shows the monthly unemployment rate for the area as well as a comparison to the overall national economy measure for the United States. Note that in March to April 2020, the Covid 19 recession or great recession occurred and affects this metric. . It shows that from February 2010 to before the disasterous Covid-19 virus Pandemic the monthly unemployment rate went from 7.8% to 2.4% in February 2020. This represents a decrease in the monthly unemployment rate of 69.2%. Since that time, the monthly unemployment rate has gone to 2.4% This represents an increase in the monthly unemployment rate of very little. In Figure 15 the monthly labor force participation which are people actively looking for work are also defined as unemployed but do not include people who have given up looking for work. . It indicates that from February 2010 to before the disasterous COVID-19 Pandemic the monthly labor force participation went from 57,998 to 66,269 in March 2020. This represents an increase in the monthly labor force participation of 14.3%. Since that time, the monthly labor force participation has gone to 67,314 This represents an increase in the monthly labor force participation of very little.

The next two charts look at the annual unemployment rate/eligible for unemployment benefits and is based on the American Community survey. Figure 16 shows Edwards CDP depicts it has a Unemployment Rate of 3.6% which is less than most other places in the metropolitan area. The place with the highest unemployment rate in the area is Red Cliff which shows a rate of 6.5% (78.5% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Edwards CDP shows it has a Labor Force Participation of 66.4% which is the smallest when ranked by participation rate of all the other places in the greater region.

The Components of Employment Status graph in Figure 18 shows the composition of the labor force broken down by employed, unemployed, and not in the labor force (but 16 years of age or older). Edwards CDP has the largest proportion of unemployed at 33.6% of the total and is ranked #1.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Edwards CDP depicts full time employees approximately 3.0 times bigger as the part time employees.

The next employment related data item is shown in Figure 21 which is the percentage of families with only a single earner in the greater Edwards CDP area. Edwards CDP depicts it has a Single Earner Families of 35.4% which is the highest of all places in the metropolitan area. The percentage of families with no one working is depicted in Figure 22. Edwards CDP shows it has a Families with No One Working of 12.8% which is the third most of all other places in the metro area. The place with the highest families with no one working in the area is Red Cliff which shows a families with no worker of 25.0% (about twice as large).

Edwards CDP Colorado Poverty Charts

The next section details economy analysis about poverty for residents of the Edwards CDP community. This performance can be enhanced by government programs such as economic opportunity zone to influence manufacturing, job growth, economic opportunity an hopefully lead to economic recovery after the recent Covid 19 recession. In Figure 23 the total number of people earning less than the poverty level are shown. Edwards CDP depicts it has a Total In Poverty of 1,260 which is the largest of all places in the greater Edwards CDP region.

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Edwards CDP shows it has a Percent of Population In Poverty of 12.1% which is the second most percent of people earning less than the poverty level of all the places in the greater Edwards CDP region. The place with the highest percent of people earning less than the poverty level in the area is Avon which depicts a percent of people in poverty of 15.8% (30.6% larger).

In Figure 25 people who are in poverty are broken out by age group. Edwards CDP has the largest proportion of person in poverty 35 to 54 years at 30% of the total and is ranked #1. Second, it has in the mid range of other places in the local area when ranked by person in poverty 55 to 64 years at 3% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Edwards CDP has the largest proportion of white poverty rate at 74% of the total and is ranked #1. Second, it has the largest proportion of hawaiian poverty rate at 21% of the total and is ranked #1.

Figure 27 shows key poverty statistics for groups based on marriage status. Edwards CDP has one of the largest proportions of unmarried with children and in poverty at 34% of the total and is ranked #3. Only #2 Avon (48%), and #1 Gypsum (84%) are larger.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Edwards CDP has the largest proportion of highschool graduate and in poverty at 18% of the total and is ranked #1. Second, it has the largest proportion of has some college and in poverty at 11% of the total and is ranked #1. Figure 29 looks at only those people who make less than the poverty level of income and breaks down there employment status. Edwards CDP has one of the largest proportions of people who are in poverty and employed at 12.5% of the total and is ranked #2. The only larger place being Vail with 15.6%. Second, it has one of the largest proportions of people who are in poverty and unemployed at 31.3% of the total and is ranked #2. The only larger place being Eagle with 34.9%. Additionally, Figure 30 looks at the percentage of people who receive some form of public assistance including general assistance, temporary assistance or food stamps (i.e. SNAP.) Edwards CDP shows it has a Public Assistance Percent of 7.9% which is the second most of all the places in the metro area. The place with the highest households with public assistance in the area is Avon which depicts a households with public assistance of 9.1% (14.8% larger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Edwards CDP depicts it has a Gini Index of 55.2% which is the second most of all the places in the metropolitan area.

Edwards CDP Colorado Work Commute Charts

The following set of charts detail a variety of metrics that have economic impact, economic grow factors and economic development metrics in the Edwards CDP community and has an impact on other factors such as economic growth, population growth, economic recovery, job growth, etc.. Figure 32 shows a high level view of how the population commutes to work (including the percent of people who work from home.) Edwards CDP has the largest proportion of people who bicycle or walk to work at 15% of the total and is ranked #1. Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Edwards CDP or elsewhere.) Edwards CDP has the largest proportion of people who took a taxicab, motorcycle or other at 3% of the total and is ranked #1. Second, it has the largest proportion of people who work from home at 15% of the total and is ranked #1.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Edwards CDP has the percentage of people with commute time of less than 5 minutesutes less than most other places in the metro area at 11% of the total. Second, it has one of the largest proportions of people with commute time between 5 to 9 minutes at 19% of the total and is ranked #2. The only larger place being Vail with 25%. Third, it has the largest proportion of people with commute time between 15 to 19 minutes at 23% of the total and is ranked #1.

The average commute time is shown in Figure 37. Edwards CDP indicates it has a Avg Commute Time of 20 which is less than most other places in the metro area. Figure 38 shows the difference between male versus female commuting time. Edwards CDP depicts average commute time in minutes for men 64.2% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Edwards CDP has the percentage of 1 vehicle available less than most other places in the local area at 38% of the total. Second, it has one of the largest proportions of 4 vehicles available at 9% of the total and is ranked #2. The only larger place being Red Cliff with 17%. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Edwards CDP depicts it has a Work in city or place where live of 35% which is the third most of all other places in the metro area. The place with the highest people who both work and live in the same city in the area is Vail which shows a people who both work and live in the same city of 62% (74.7% larger). Comparing people who both work and live in the same city to the United States average of 44%, Edwards CDP is about 24.3% smaller. Also, compared to the state of Colorado, people who both work and live in the same city of 47%, Edwards CDP is approximately three-fourths the size.

Edwards CDP Colorado Jobs Charts

The next to charts break out the median earnings for major job categories for men and women. Figure 46 shows the median earnings of men for the job categories. Edwards CDP depicts it has the hightest median earnings of $187,656 for the earnings-education, legal, community service, arts, media occupations grouping. Similarly, Figure 47 shows the median earnings of women for the job categories and Edwards CDP indicates it has the hightest median earnings of $72,264 for the management, business, and financial occupations aggregate. The table in Figure 48, shows Edwards CDP employment data in terms of job categories and salary data.

Edwards CDP Colorado Self Employment Charts

Figure 49 shows economic activity in terms of the number of people who are self employed in incorporated local business by industry. Edwards CDP shows it has the hightest entrepreneurs of 48% for the self employed management, business, science, and arts businesses aggregate.

Similar to the last chart is Figure 50 which shows the number of people who are self employed but in more detailed industry categories such as manufacturing, retail sales, residential real estate, commercial real estate, health care, exports/imports, and advanced industries, etc. Edwards CDP depicts it has the hightest entrepreneurs of 49% for the self employed in professional, scientific, management, administrative services grouping.

In Figure 51 the average annual self employment/entrepreneur income is shown. Edwards CDP depicts it has a Self Employment Income of $89,476 which is the largest of all places in the local area. Comparing average annual self employment income to the United States average of $42,141, Edwards CDP is about twice as large. Also, in comparison with the state of Colorado, average annual self employment income of $41,720, Edwards CDP is about twice as large.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Edwards CDP depicts total number of self-employed men 35.5% larger as the total number of self-employed women.