Silver City CDP Nevada Income Charts

This section shows the Silver City CDP Nevada economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Silver City CDP depicts it has a Median earnings of $125,833 which is ranked #1 of all places in the greater Silver City CDP region. Comparing median earnings per worker to the United States average of $53,269, Silver City CDP is approximately 2.4 times bigger. Also, measured against the state of Nevada, median earnings per worker of $47,225, Silver City CDP is approximately 2.7 times bigger.

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 $85,341 which is in the middle range of other places in the greater region. The place with the highest median household income in the area is Virginia City CDP which depicts a median income of $116,368 (36.4% larger). Comparing median household income to the United States average of $69,021, Silver City CDP is 23.6% larger. Also, compared to the state of Nevada, median household income of $65,686, Silver City CDP is 29.9% larger.

The next section examines a variety of different income statistics for the Silver City CDP metropolitan area. In Figure 3 we see that it it has the largest proportion of earnings between $15,000 and $19,999 at 52.4% of the total and is ranked #1. Second, it has the largest proportion of earnings between $75,000 and $99,999 at 47.6% of the total and is ranked #1.

Figure 5 examines the number of self employed people in the Silver City CDP metro area based on the number of people who reported any self employment income. Silver City CDP shows it has a Self Employed of 7.7% which is less than most other places in the area. The place with the highest percentage of people self employed in the area is Washoe Valley CDP which shows a percentage self employed of 22.5% (approximately 2.9 times bigger).

Figure 6 breaks down the source of income and Silver City CDP has the largest proportion of self employment income at 34.9% of the total and is ranked #1.

The next chart (Figure 7) shows the percentage of households that had retirement income over the last 12 months and it has a With Retirement Income of 51.3% which is ranked #1 of all places in the greater Silver City CDP region.

Figure 10 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Silver City CDP depicts it has the hightest cost of 117.3 for the cost of housing group.

Silver City CDP Nevada Poverty Charts

In Figure 11 the percentage of people earning less than the poverty level is shown and compared across the group of places. Silver City CDP shows it has a Percent of Population In Poverty of 6.2% which is in the intermediate range of other places in the surrounding region. The place with the highest percent of people earning less than the poverty level in the area is Virginia City CDP which depicts a percent of people in poverty of 11.8% (about twice as large). Additionally, Figure 12 looks at the percentage of people who receive some form of public assistance including general assistance, temporary assistance or food stamps (i.e. SNAP.) Silver City CDP depicts it has a Public Assistance Percent of 23.1% which is more than all other places in the greater Silver City CDP region.

Silver City CDP Nevada Labor Force Charts

The table in Figure 13, shows Silver City CDP employment data in terms of job categories and salary data.

The next two charts look at 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 2022, the Covid 19 recession occurred and affects this metric. The monthly unemployment rate shows that from February 2017 to before the Coronavirus Pandemic it went from 6.2% to 3.4% in December 2019. This represents a decrease in the monthly unemployment rate of 45.2%. Since that time, the monthly unemployment rate has gone to 3.4%. This represents an increase in the monthly unemployment rate of very little.

Silver City CDP Nevada Jobs Charts

In the jobs section of economic activity charts in Figure 15 shows the average annual earnings for very high level job industry categories for full time and year round employed.

Figure 16 shows the average median earnings for different categories of jobs.

Silver City CDP Nevada Work Commute Charts

Figure 18 shows a more detailed view of how the population commutes to work for (for example to downtown Silver City CDP or elsewhere.) Silver City CDP has the percentage of people who drove alone the second smallest when ranked by people who drove alone of all the other places in the metro area at 48% of the total. Second, it has the largest proportion of people who carpooled at 52% of the total and is ranked #1.

Figure 19 is provided for comparison purposes to the previous chart. It shows how people get to work overall on average in the United States.