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TWIN FALLS COUNTY
CITY OF TWIN FALLS
- Wage Survey
- Economic Forcast
- Taxes
- Economic Indicators
- Employment Stats
- Industry Projections
- Incentives/Financing
- Census
Households in Twin Falls earn a median yearly income of47,785. 27.25% of the households earn more than the national average each year. Household expenditures average49,140per year. The majority of earnings get spent on Shelter, Transportation, Food and Beverages, Health Care, and Utilities.
How do people in Twin Falls spend thier money?
After a prolonged recession that extended beyond initial expectations and a subpar recovery, Idaho seems to have finally returned to a more sustainable growth pattern. While employment in Idaho has been growing steadily since the last quarter of 2010, seasonally adjusted nonfarm payrolls struggled to reach the prerecession level of 656,000. As economic conditions improved in 2014, nonfarm payrolls finally exceeded that threshold sometime during the third quarter and are anticipated to have continued to grow into the fourth quarter. As employment has rebounded, so has Idaho personal income. Over the last year income has been growing at an accelerated rate, largely due to record-level farm income. Soaring farm incomes are not expected to persist past 2014 and are even expected to decline in 2015, which is likely to have an impact on aggregate state income. Real personal income growth is forecast to be 3.6% in 2014, 2.4% in 2015, 3.3% in 2016, 3.6% in 2017, and 3.1% in 2018. While still growing, Idaho’s housing market has not recovered as fast as was previously predicted. This slowdown is likely the result of a larger number of existing homes reentering the market. One of the reasons that the inventory of existing homes was so low over the past few years is that many home owners that may have wanted to sell their homes were waiting for home values to rise. With the rapid rise in home values over the last few years, many of these home owners have been enticed to relist existing homes, adding to the inventory of houses for sale. The decline in housing starts in 2014 is likely a temporary correction, rather than the beginning of a new set of declines, and is expected to expand again in 2015 and continue to grow in each additional year of the forecast period.
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