Clark County income climbs 4.1%

The median household income in Clark County increased 4.1 percent to $64,275 between 2014 and 2015, according to U.S. Census Bureau’s American Community Survey estimates released Wednesday.

In the state, incomes are growing at about the same rate. Statewide median income rose 4.5 percent to $64,129 during that same one-year period. Nationally, household income grew 3.9 percent to $55,775. The national numbers, which were released Tuesday, were lauded as a positive sign of a recovering economy.

A look further back in time shows that local income growth outpaces the country’s.

Between 2005 and 2015, Clark County saw median household incomes grow more than 26 percent. At the same time, the nation’s grew almost 21 percent. The growth is even more exaggerated in neighboring Multnomah County, Ore., which saw incomes rise 38 percent during the same time period.

“That incomes went up is no surprise, but it’s still very nice to hear,” said regional economist Scott Bailey, who works for the state Employment Security Department.

Some of the growth could be attributed to Clark County attracting higher-wage jobs or people moving up the ladder in their careers, he said.

However, Bailey said that when the numbers are adjusted for inflation, today’s incomes don’t quite stack up against 2007’s peak incomes. Clark County’s median income then was $58,116, according to American Community Survey data, but that’s worth more than $64,275 is today.

Also, higher-income households represent a greater number of residents than they did in 2005, and that influences median incomes. In Clark County in 2005, about 10.7 percent of households earned at least $100,000. Last year, it was 28.9 percent.

The number of people who earn at least $200,000 more than tripled in Clark County between 2005 and 2015, to nearly 8,900 households.

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