The average income in Coeur d’Alene, Idaho, as of May 2024, was $27.20 per hour, but understanding this figure requires a deeper look at various factors and opportunities for income partnership and growth, which you can explore further at income-partners.net. This article breaks down income levels across different professions and explores avenues for boosting your earning potential through strategic partnerships.
1. What Is the Average Hourly Wage in Coeur d’Alene, Idaho?
The average hourly wage in Coeur d’Alene, ID, was $27.20 as of May 2024, according to the U.S. Bureau of Labor Statistics. This is lower than the national average of $32.66. However, wages vary significantly depending on the occupation.
To get a clearer picture, let’s break down the average hourly wages by major occupational group:
- Management: $49.28
- Healthcare Practitioners and Technical: $46.38
- Computer and Mathematical: $44.40
- Food Preparation and Serving Related: $15.71
- Personal Care and Service: $17.62
- Building and Grounds Cleaning and Maintenance: $18.64
These figures highlight the diverse economic landscape of Coeur d’Alene and the varying earning potential across different sectors. Understanding these differences is crucial for anyone looking to start a business, invest, or explore new career paths in the area.
2. How Does Coeur d’Alene’s Average Income Compare to the National Average?
Coeur d’Alene’s average hourly wage of $27.20 is less than the national average of $32.66. This difference reflects variations in the cost of living, industry presence, and job market dynamics between Coeur d’Alene and the rest of the United States.
However, it’s important to consider that while the average income is lower, so might be the cost of living. This means your money could potentially stretch further in Coeur d’Alene than in some other parts of the country. It also suggests opportunities for businesses to thrive by offering competitive wages while maintaining profitability.
3. Which Occupations Offer the Highest Salaries in Coeur d’Alene?
Occupations in management, healthcare, and computer-related fields generally offer the highest salaries in Coeur d’Alene. Here’s a closer look:
- Management: Average hourly wage of $49.28. This includes roles such as chief executives, general and operations managers, and marketing managers.
- Healthcare Practitioners and Technical: Average hourly wage of $46.38. This category includes physicians, surgeons, registered nurses, and other healthcare professionals.
- Computer and Mathematical: Average hourly wage of $44.40. This covers computer systems analysts, software developers, and data scientists.
- Legal: Average hourly wage of $43.05. This includes lawyers, paralegals, and legal assistants.
- Architecture and Engineering: Average hourly wage of $41.71. This includes architects, civil engineers, and mechanical engineers.
These higher-paying occupations often require advanced education, specialized skills, and extensive experience. If you’re aiming for a higher income in Coeur d’Alene, focusing on these fields could be a strategic move.
4. What Are the Most Common Occupations in Coeur d’Alene?
Understanding the most common occupations in Coeur d’Alene can provide insights into the local job market and potential partnership opportunities. The occupational groups with the highest employment in the area include:
- Office and Administrative Support: 13.2% of total employment
- Food Preparation and Serving Related: 11.5% of total employment
- Sales and Related: 9.3% of total employment
- Construction and Extraction: 7.4% of total employment
- Healthcare Practitioners and Technical: 6.8% of total employment
- Transportation and Material Moving: 6.8% of total employment
These figures suggest a strong presence of service-oriented and administrative roles, as well as significant employment in construction. Businesses that support these sectors could find ample opportunities for growth and collaboration in Coeur d’Alene.
5. How Does the Cost of Living in Coeur d’Alene Affect Income?
The cost of living in Coeur d’Alene plays a significant role in how far your income can go. While the average income might be lower than the national average, the cost of living could offset this difference. Factors such as housing costs, transportation expenses, and the price of goods and services all contribute to the overall affordability of living in Coeur d’Alene.
According to recent data, Coeur d’Alene’s cost of living is slightly higher than the national average. Housing costs, in particular, can be a significant factor. However, other expenses like healthcare and utilities may be more affordable.
To make informed financial decisions, it’s essential to research the specific cost of living factors relevant to your lifestyle and needs. Understanding these nuances can help you better assess the real value of your income in Coeur d’Alene.
6. What Industries Are Driving Income Growth in Coeur d’Alene?
Several industries are contributing to income growth and economic development in Coeur d’Alene. Identifying these sectors can provide valuable insights for businesses and individuals seeking growth opportunities.
- Healthcare: The healthcare sector is a major employer in Coeur d’Alene, offering a range of high-paying jobs for practitioners and technical staff. The demand for healthcare services is expected to continue growing, driven by an aging population and increasing healthcare needs.
- Technology: While not as prominent as in larger cities, the technology sector is growing in Coeur d’Alene. This includes software development, IT services, and other tech-related businesses.
- Tourism and Hospitality: Coeur d’Alene is a popular tourist destination, attracting visitors with its scenic beauty and outdoor recreational opportunities. The tourism and hospitality industry provides numerous jobs and contributes significantly to the local economy.
- Construction: With ongoing development and infrastructure projects, the construction industry remains a vital part of Coeur d’Alene’s economy.
- Manufacturing: The manufacturing sector also provides stable employment opportunities, contributing to the economic diversity of the area.
Investing in or partnering with businesses in these growing industries can be a strategic way to boost your income and capitalize on the economic trends shaping Coeur d’Alene.
7. What Is the Income Distribution Like in Coeur d’Alene?
Understanding the income distribution in Coeur d’Alene provides a more complete picture of the economic landscape beyond just the average income. Income distribution refers to how income is divided among the population, revealing the range between the lowest and highest earners.
While specific data on income distribution can vary, it’s generally observed that income inequality exists in most areas, including Coeur d’Alene. This means that a portion of the population earns significantly more than the average, while another portion earns less.
Factors contributing to income distribution include education levels, job types, industry growth, and business ownership. Access to resources and opportunities also plays a role. Knowing this distribution can help tailor business strategies and identify potential areas for partnership and growth.
8. How Can Education and Skills Training Impact Income in Coeur d’Alene?
Education and skills training have a direct impact on income potential in Coeur d’Alene. Higher levels of education and specialized skills often lead to better job opportunities and higher wages.
- Education: Individuals with bachelor’s or advanced degrees typically earn more than those with only a high school diploma. Fields such as healthcare, technology, and business administration often require higher education levels.
- Skills Training: Vocational training and certifications can also significantly boost income. For example, skilled trades like electricians, plumbers, and mechanics are in high demand and can command competitive wages.
- Continuous Learning: Keeping up with industry trends and acquiring new skills is essential for career advancement and income growth. Online courses, workshops, and professional development programs can help individuals stay competitive in the job market.
Investing in education and skills training can open doors to higher-paying jobs and create opportunities for career advancement in Coeur d’Alene.
9. Are There Income Disparities Based on Gender or Ethnicity in Coeur d’Alene?
Like many areas, Coeur d’Alene may experience income disparities based on gender or ethnicity. These disparities can arise from various factors, including occupational segregation, differences in education and experience, and biases in hiring and promotion practices.
While specific data for Coeur d’Alene might not always be readily available, it’s important to be aware of these potential disparities. Addressing income inequality requires promoting equal opportunities, fair pay practices, and inclusive workplaces.
Businesses committed to diversity and inclusion can help bridge these gaps and create a more equitable economic environment for all residents of Coeur d’Alene.
10. What Resources Are Available to Help Increase Income in Coeur d’Alene?
Several resources are available in Coeur d’Alene to help individuals increase their income and achieve financial stability.
- Job Training Programs: Local community colleges and vocational schools offer job training programs in various fields, providing individuals with the skills needed to enter high-demand occupations.
- Career Counseling Services: Career counseling services can help individuals assess their skills and interests, explore career options, and develop a plan for achieving their career goals.
- Small Business Resources: The Small Business Administration (SBA) and local economic development organizations offer resources and support for entrepreneurs looking to start or grow their businesses.
- Financial Literacy Programs: Financial literacy programs can help individuals manage their finances, save for the future, and make informed investment decisions.
- Networking Opportunities: Participating in local business events and networking groups can help individuals connect with potential employers, partners, and mentors.
By leveraging these resources, individuals can take proactive steps to increase their income and improve their financial well-being in Coeur d’Alene. Income-partners.net can be a great starting point for finding strategic partnerships to boost your income.
11. How Can Strategic Partnerships Boost Income in Coeur d’Alene?
Strategic partnerships can significantly boost income for businesses and individuals in Coeur d’Alene. By collaborating with others, you can leverage complementary skills, resources, and networks to achieve common goals and increase profitability.
- Joint Ventures: Partnering with another business to launch a new product or service can expand your market reach and generate additional revenue.
- Referral Partnerships: Establishing referral agreements with complementary businesses can drive new leads and customers to your business.
- Affiliate Marketing: Promoting other businesses’ products or services in exchange for a commission can generate passive income.
- Supplier Partnerships: Negotiating favorable terms with suppliers can reduce costs and improve your bottom line.
- Mentorship Programs: Partnering with experienced mentors can provide valuable guidance and support for growing your business or career.
Building strategic partnerships requires careful planning, clear communication, and a shared commitment to success. Income-partners.net offers a platform for finding and connecting with potential partners in Coeur d’Alene.
12. What Are the Key Factors for Negotiating Salaries in Coeur d’Alene?
Negotiating a salary in Coeur d’Alene, or anywhere, requires preparation, confidence, and a clear understanding of your worth. Here are key factors to consider:
- Research: Know the average salary for your position in Coeur d’Alene. Websites like Salary.com, Glassdoor, and the Bureau of Labor Statistics (BLS) can provide valuable data.
- Experience and Skills: Highlight your relevant experience, skills, and accomplishments. Quantify your achievements whenever possible to demonstrate your value to the employer.
- Cost of Living: Factor in the cost of living in Coeur d’Alene. If it’s higher than the national average, use this to justify a higher salary.
- Company Size and Industry: Larger companies and certain industries may offer higher salaries. Research the specific company and industry to understand their compensation practices.
- Negotiation Skills: Practice your negotiation skills. Be confident, assertive, and prepared to justify your salary expectations.
- Benefits: Consider the entire compensation package, including benefits like health insurance, retirement plans, and paid time off. These benefits can add significant value to your overall compensation.
By considering these factors and preparing thoroughly, you can increase your chances of negotiating a salary that reflects your worth in Coeur d’Alene.
13. How Does Remote Work Affect Income Opportunities in Coeur d’Alene?
Remote work has opened up new income opportunities for residents of Coeur d’Alene. With the rise of remote work, individuals can now access jobs from companies located anywhere in the world, potentially earning higher salaries than local opportunities might offer.
- Access to Higher-Paying Jobs: Remote work allows you to apply for jobs in larger cities or companies that typically pay more.
- Flexibility: Remote work provides greater flexibility, allowing you to balance work and personal responsibilities.
- Reduced Commuting Costs: Working from home eliminates commuting costs, saving you money on gas, transportation, and vehicle maintenance.
- Increased Job Satisfaction: Many remote workers report higher job satisfaction due to increased autonomy and flexibility.
However, it’s important to consider the challenges of remote work, such as potential isolation, the need for self-discipline, and the importance of maintaining clear boundaries between work and personal life. Websites like income-partners.net can help you find remote partnership opportunities to boost your income while working from Coeur d’Alene.
14. What Role Does Entrepreneurship Play in Income Growth in Coeur d’Alene?
Entrepreneurship plays a vital role in driving income growth and economic development in Coeur d’Alene. Starting your own business can provide unlimited income potential and create new job opportunities for others.
- Unlimited Income Potential: As an entrepreneur, your income is directly tied to the success of your business. With hard work, innovation, and smart business decisions, you can achieve significant income growth.
- Job Creation: Entrepreneurs create new jobs, contributing to the overall economic health of the community.
- Innovation: Entrepreneurs often introduce new products, services, and technologies that can improve the quality of life and drive economic growth.
- Community Development: Successful entrepreneurs invest in their communities, supporting local organizations and contributing to charitable causes.
However, entrepreneurship also involves risks and challenges. It requires careful planning, access to capital, and a strong work ethic. Resources like the Small Business Administration (SBA) and local economic development organizations can provide valuable support for entrepreneurs in Coeur d’Alene.
15. What Are the Tax Implications for Income Earned in Coeur d’Alene, Idaho?
Understanding the tax implications for income earned in Coeur d’Alene is crucial for managing your finances effectively. Idaho has a state income tax, in addition to federal income taxes.
- Idaho State Income Tax: Idaho has a progressive income tax system, meaning that higher income earners pay a higher percentage of their income in taxes.
- Federal Income Tax: Federal income taxes are also progressive, with tax rates varying based on income levels.
- Property Taxes: If you own property in Coeur d’Alene, you will also be subject to property taxes, which are used to fund local government services like schools and infrastructure.
- Sales Tax: Idaho has a sales tax of 6%, which applies to most goods and services.
It’s important to consult with a tax professional to understand your specific tax obligations and identify potential deductions and credits that can reduce your tax liability. Proper tax planning can help you maximize your income and achieve your financial goals in Coeur d’Alene.
16. How Can I Invest My Income Wisely in Coeur d’Alene?
Investing your income wisely is essential for building long-term financial security. In Coeur d’Alene, there are various investment options to consider, depending on your risk tolerance and financial goals.
- Real Estate: Investing in real estate can provide rental income and potential appreciation over time. Coeur d’Alene’s real estate market has been growing, making it an attractive option for investors.
- Stocks and Bonds: Investing in stocks and bonds can provide long-term growth potential. It’s important to diversify your portfolio and consult with a financial advisor to make informed investment decisions.
- Retirement Accounts: Contributing to retirement accounts like 401(k)s and IRAs can provide tax benefits and help you save for retirement.
- Small Business Investments: Investing in local small businesses can support the community and potentially generate attractive returns.
- Education and Skills Training: Investing in your own education and skills training can increase your earning potential and open up new career opportunities.
Before making any investment decisions, it’s important to assess your financial situation, set clear goals, and consult with a qualified financial advisor.
17. What Are the Common Financial Mistakes to Avoid in Coeur d’Alene?
Avoiding common financial mistakes can help you protect your income and build a solid financial foundation in Coeur d’Alene.
- Not Budgeting: Failing to create and stick to a budget can lead to overspending and debt accumulation.
- Ignoring Debt: Ignoring debt can lead to high interest charges and long-term financial problems.
- Not Saving for Retirement: Failing to save for retirement can leave you financially unprepared for your later years.
- Overspending on Housing: Spending too much on housing can strain your budget and limit your ability to save and invest.
- Not Having an Emergency Fund: Not having an emergency fund can leave you vulnerable to unexpected expenses and financial setbacks.
- Failing to Invest: Failing to invest your money can limit your ability to grow your wealth over time.
By avoiding these common financial mistakes, you can take control of your finances and achieve your financial goals in Coeur d’Alene.
18. How Can I Plan for Retirement in Coeur d’Alene?
Planning for retirement is crucial for ensuring a comfortable and secure future in Coeur d’Alene.
- Estimate Your Retirement Needs: Determine how much money you will need to cover your expenses in retirement.
- Save Early and Often: Start saving for retirement as early as possible and contribute regularly to your retirement accounts.
- Take Advantage of Employer-Sponsored Retirement Plans: If your employer offers a 401(k) or other retirement plan, take advantage of it.
- Consider an IRA: If you don’t have access to an employer-sponsored retirement plan, consider opening an IRA.
- Diversify Your Investments: Diversify your retirement investments to reduce risk.
- Consult with a Financial Advisor: Consult with a financial advisor to develop a personalized retirement plan.
Proper retirement planning can help you achieve financial security and enjoy a fulfilling retirement in Coeur d’Alene.
19. What Is the Economic Outlook for Coeur d’Alene?
Understanding the economic outlook for Coeur d’Alene can help you make informed decisions about your career, business, and investments.
- Job Growth: Coeur d’Alene’s job market has been growing in recent years, driven by industries like healthcare, tourism, and technology.
- Population Growth: Coeur d’Alene has experienced significant population growth, which can create new opportunities for businesses and developers.
- Real Estate Market: Coeur d’Alene’s real estate market has been strong, with rising home prices and increasing demand for housing.
- Economic Development Initiatives: Local economic development organizations are working to attract new businesses and industries to Coeur d’Alene.
- Tourism: Tourism continues to be a major driver of the local economy, attracting visitors from around the world.
While economic conditions can change, the overall outlook for Coeur d’Alene appears to be positive, with opportunities for growth and prosperity.
20. How Can Income-Partners.Net Help Me Increase My Income in Coeur d’Alene?
Income-partners.net is a valuable resource for individuals and businesses looking to increase their income in Coeur d’Alene. The platform provides a range of tools and resources to help you find strategic partners, explore new business opportunities, and achieve your financial goals.
- Find Strategic Partners: Income-partners.net connects you with potential partners who can help you leverage complementary skills, resources, and networks.
- Explore New Business Opportunities: The platform provides information on emerging industries, market trends, and potential business ventures in Coeur d’Alene.
- Access Expert Advice: Income-partners.net offers access to expert advice from business consultants, financial advisors, and other professionals.
- Network with Like-Minded Individuals: The platform provides opportunities to network with other entrepreneurs, investors, and business professionals in Coeur d’Alene.
- Stay Informed: Income-partners.net keeps you informed about the latest economic news, business trends, and investment opportunities in Coeur d’Alene.
By leveraging the resources available on income-partners.net, you can take proactive steps to increase your income and achieve your financial goals in Coeur d’Alene.
To further illustrate the concepts discussed, consider the following examples:
Example 1: Healthcare Partnership
Dr. Smith, a physician in Coeur d’Alene, partners with a local physical therapy clinic to offer comprehensive rehabilitation services. By referring patients to each other, they both increase their revenue and provide better care to their patients.
Example 2: Tourism Collaboration
A local hotel partners with a tour operator to offer package deals to tourists. By bundling accommodations and activities, they attract more customers and increase their overall revenue.
Example 3: Technology Startup
A software developer partners with a marketing agency to launch a new mobile app. By combining their technical skills and marketing expertise, they successfully reach their target audience and generate significant revenue.
These examples demonstrate the power of strategic partnerships in driving income growth and creating value for businesses and individuals in Coeur d’Alene. “Office and Administrative Support Occupations” is the perfect example of the power of strategic partnership in driving income growth and creating value for businesses.
Remember, increasing your income in Coeur d’Alene requires a proactive approach, a willingness to learn, and a commitment to building strong relationships. With the right strategies and resources, you can achieve your financial goals and create a prosperous future for yourself and your community.
Understanding Location Quotients
Location quotients are a valuable tool for understanding the concentration of specific occupations in a particular area compared to the national average. A location quotient greater than 1 indicates that an occupation has a higher share of employment in the area than the national average, while a location quotient less than 1 indicates the occupation is less prevalent in the area than the national average.
For example, in Coeur d’Alene:
- Hotel, motel, and resort desk clerks had a location quotient of 2.25, meaning they were employed at 2.25 times the national rate.
- Receptionists and information clerks had a location quotient of 1.72, indicating they were employed at 1.72 times the U.S. average.
- Secretaries and administrative assistants, except legal, medical, and executive, had a location quotient of 0.93, suggesting their local and national employment shares were similar.
These location quotients provide insights into the unique occupational landscape of Coeur d’Alene and can help businesses identify areas of strength and potential opportunities.
Focusing on Office and Administrative Support Occupations
Office and administrative support occupations represent a significant portion of the workforce in Coeur d’Alene, accounting for 13.2% of local area employment. The average hourly wage for this occupational group was $21.93, compared to the national wage of $24.12.
Within this group, some of the larger detailed occupations include:
- Customer service representatives (1,890 jobs)
- General office clerks (1,760 jobs)
- First-line supervisors of office and administrative support workers (790 jobs)
The higher-paying jobs in this group included public safety telecommunicators ($32.36) and executive secretaries and executive administrative assistants ($30.21). At the lower end of the wage scale were hotel, motel, and resort desk clerks ($16.53) and receptionists and information clerks ($18.03).
This detailed breakdown of office and administrative support occupations highlights the diversity of roles and earning potential within this sector in Coeur d’Alene.
Leveraging Resources from the Bureau of Labor Statistics (BLS)
The Bureau of Labor Statistics (BLS) is a valuable source of information on employment and wages in Coeur d’Alene and across the United States. The BLS provides data on:
- Occupational employment and wages
- Industry trends
- Economic projections
- Cost of living
- Inflation
By utilizing BLS data, you can gain insights into the local job market, identify high-demand occupations, and make informed decisions about your career and business. The BLS website (https://www.bls.gov/oes/) offers a wealth of information and resources to help you navigate the economic landscape of Coeur d’Alene.
Conclusion:
Understanding the average income in Coeur d’Alene, Idaho, requires a comprehensive analysis of various factors, including occupational groups, cost of living, industry trends, and strategic partnership opportunities. While the average hourly wage may be lower than the national average, Coeur d’Alene offers unique advantages and opportunities for income growth.
By leveraging resources like income-partners.net and the Bureau of Labor Statistics (BLS), you can make informed decisions, build strategic partnerships, and achieve your financial goals in Coeur d’Alene.
Visit income-partners.net today to explore partnership opportunities, learn about effective relationship-building strategies, and connect with potential collaborators in the USA. Take the first step towards building profitable partnerships and achieving your business goals. Address: 1 University Station, Austin, TX 78712, United States. Phone: +1 (512) 471-3434. Website: income-partners.net. Don’t miss out on the chance to elevate your income and expand your network!
Frequently Asked Questions (FAQ)
1. What is the average income in Coeur d’Alene, Idaho?
As of May 2024, the average hourly wage in Coeur d’Alene, ID, was $27.20, lower than the national average of $32.66. However, this figure varies significantly depending on the occupation and industry.
2. How does the cost of living in Coeur d’Alene affect my income?
Coeur d’Alene’s cost of living is slightly higher than the national average, particularly concerning housing costs. This means that while average incomes might be lower, expenses could balance out depending on your lifestyle.
3. Which occupations offer the highest salaries in Coeur d’Alene?
Management, healthcare practitioners and technical, computer and mathematical, legal, and architecture and engineering occupations tend to offer the highest salaries in Coeur d’Alene.
4. What are the most common occupations in Coeur d’Alene?
The most common occupations include office and administrative support, food preparation and serving related, and sales and related positions.
5. How can strategic partnerships boost my income in Coeur d’Alene?
Strategic partnerships can significantly enhance income by leveraging complementary skills, resources, and networks. Joint ventures, referral partnerships, and affiliate marketing are a few examples.
6. What resources are available to help me increase my income in Coeur d’Alene?
Numerous resources are available, including job training programs, career counseling services, small business resources from the SBA, financial literacy programs, and networking opportunities.
7. How does remote work affect income opportunities in Coeur d’Alene?
Remote work expands income opportunities by allowing residents to access higher-paying jobs from companies located outside the area, offering greater flexibility and reduced commuting costs.
8. What role does entrepreneurship play in income growth in Coeur d’Alene?
Entrepreneurship is vital for income growth, offering unlimited income potential, job creation, innovation, and community development. However, it also involves risks and challenges.
9. Where can I find potential partners to increase my income in Coeur d’Alene?
Websites like income-partners.net connect you with potential partners, provide information on emerging industries, offer expert advice, and facilitate networking with like-minded individuals.
10. What are the tax implications for income earned in Coeur d’Alene, Idaho?
Idaho has a state income tax in addition to federal income taxes. Property taxes and a 6% sales tax also apply. Consult a tax professional for specific tax obligations and potential deductions.
