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Her current research focuses on the economic causes and consequences of obesity, untangling the relationship between marriage and health, the behavior and academic achievement of multiracial youth and the effect of birth order on adolescent health and risky behavior.
Averett is also the co-author, with Saul D. Hoffman of the textbook Women and the Economy: Family Work and Pay which is in its second edition.
Her research has been reported in various newspapers including the New York Times, USA Today and the Wall Street Journal and her research into adolescent health and risky behavior garnered an appearance on The Today Show.
Averett has been the recipient of numerous awards to recognize her excellence in teaching and mentoring. She serves as the college's Faculty Representative to the NCAA and as a faculty mentor to the football team. She also serves on the board of trustees for Easton Hospital. Averett and her colleague, Edward N. Gamber are the co-editors of the Eastern Economic Journal.
A 1986 graduate of Colorado State where she earned a bachelor's degree in Economics, Averett went on to earn her Ph.D. in Economics from Colorado in 1991.
She is the mother of two daughters. Her oldest daughter is a sophomore at Colorado State University and her younger daughter is in the ninth grade at Easton Area High School.