Average net worth in Clallam County reflects the financial landscape of a rural coastal region in northwestern Washington. Homeowners, retirees, and remote workers all shape the county’s economic profile, with median figures differing from broader state trends.
This overview combines public data and market insights to provide a practical snapshot of personal finance in Clallam County. The numbers below help contextualize local living standards, housing markets, and planning considerations for residents and newcomers.
| Metric | Clallam County | Washington State | Notes |
|---|---|---|---|
| Median Household Income | $61,200 | $91,000 | 2022 ACS estimates, inflation-adjusted |
| Median Home Value | $465,000 | $443,000 | Seasonally adjusted, countywide average |
| Average Net Worth per Household | $682,000 | $760,000 | Includes home equity and retirement accounts |
| Poverty Rate | 14.2% | 9.5% | Higher in rural pockets and among older adults |
| Homeownership Rate | 76% | 65% |
Income Patterns and Employment in Clallam County
Key Industries and Wages
Local earnings in Clallam County are shaped by healthcare, retail, construction, and tourism. Seasonal hospitality work often pays at or near minimum wage, while specialized trades and healthcare roles offer higher compensation.
Remote Work and Public Sector Roles
Growth in remote work has boosted median income for some households, while public-sector positions provide steady paychecks. These trends support a stable baseline despite a small labor market compared to urban counties.
Housing Costs and Ownership Dynamics
Home Prices and Rent Trends
Rising lumber costs and limited inventory have pushed median home values above many neighboring counties. Rent growth has similarly outpaced wage gains in several neighborhoods, increasing pressure on low-income households.
Affordability and Assistance Programs
Local nonprofits and county agencies sponsor down payment assistance and first-time buyer workshops. Programs targeting essential workers help nurses, teachers, and public safety staff remain in communities they serve.
Wealth, Savings, and Retirement Planning
Retirement Account Ownership
High homeownership brings substantial household equity, yet retirement readiness varies. Residents who contribute consistently to IRAs and employer plans show notably higher average net worth.
Debt and Emergency Savings
Credit card and auto loan balances remain moderate compared to urban peers. However, a notable share of households lack a three-month emergency fund, making them vulnerable to income shocks.
Economic Mobility and Demographic Factors
Age Distribution and Household Size
An older population increases median net worth per household, as homeowners accumulate equity and pay down mortgages. At the same time, younger adults often face higher living costs relative to local wages.
Education and Income Correlation
Households with bachelor’s degrees or trade certifications enjoy higher earnings and stronger savings. County initiatives focus on expanding access to affordable credential programs to broaden opportunity.
Strategies to Build Financial Stability in Clallam County
- Track monthly cash flow and set an emergency fund target of three to six months’ expenses
- Compare mortgage options and consider fixed-rate products to manage housing cost risk
- Invest in skills training or certifications aligned with local employer needs
- Maximize retirement contributions, especially through workplace plans with any employer match
- Review insurance, taxes, and legacy planning with a local fiduciary advisor
FAQ
Reader questions
How does Clallam County's average net worth compare to nearby counties?
Clallam County’s average net worth is slightly below the state average but remains competitive with other rural counties, driven by high homeownership and lower cost of living outside Port Angeles.
What income level is considered comfortable in Clallam County?
A comfortable income generally covers housing, utilities, transportation, healthcare, and leisure without strain. Locally, this often aligns with households earning above $75,000 annually, though geography and family size shift this threshold.
Which sectors offer the best wage growth in the county?
Specialized healthcare, licensed trades, and skilled construction roles show the strongest wage growth. Remote work positions in tech and administration also expand high-quality opportunities for residents who can access reliable internet.
What support exists for first-time homebuyers in Clallam County?
Down payment assistance, closing cost grants, and low-interest loan products are available through county agencies and partner nonprofits. Education workshops help buyers understand credit, budgeting, and local market conditions.