Wealth Index
The wealth index reflects the overall economic prosperity and financial well-being of a county's residents based on income levels, employment rates, and income inequality metrics.
Income Statistics Overview
| Metric | Drexel Heights | Arizona Avg | US Average |
|---|---|---|---|
| Median Household Income | $73,437 | $77,100 | $78,145 |
| Median Personal Income | $50,357 | $58,256 | $61,726 |
| Average income growth | 6.9% | 5.9% | 5.1% |
| Six-Figure Earners | 5.5% | 11.7% | 13.2% |
The median household income in Drexel Heights is about 5% lower than in Arizona. Income has been growing faster in Drexel Heights (6.9%/yr) than in Arizona (5.9%/yr).
About 6% of adults in Drexel Heights earn six figures ($100,000 or more) a year, lower than the Arizona average of 12%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Drexel Heights, Arizona grew by 52.9% from 2009 to 2023, reaching $73,437 in 2023. That's an average of about 6.9% per year.
Economic Inequality in Drexel Heights | Gender Pay Gap | Gini Coefficient
| Metric | Drexel Heights | Arizona Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.556 | 0.571 | 0.570 |
| Male Median Income | $53,815 | $63,179 | $67,746 |
| Female Median Income | $45,932 | $52,803 | $54,793 |
| Gender Pay Gap | 14.6% | 16.4% | 19.1% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Drexel Heights, it is 0.556, lower than Arizona's 0.571, so income is more evenly distributed here than there, and lower than the US's 0.570, so income is more evenly distributed here than there.
Men's income is about 17% more than women's income in Drexel Heights, Arizona. Over a 35-year career, a 17% wage gap accumulates to roughly $275,905 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Drexel Heights, Arizona has narrowed from about 21% to 15% in 2023. In dollar terms, the gap has narrowed by $461 since 2009.
Employment
| Metric | Drexel Heights | Arizona Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.9% | 5.1% | 5.2% |
| Working from Home | 9.3% | 16.5% | 13.4% |
| Commute time (minutes) | 25 | 22 | 22 |
Approximately 664 people are unemployed in Drexel Heights, Arizona.
The average commute time in Drexel Heights is 25 minutes, longer than the 22 minutes in Arizona.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Drexel Heights, Arizona has fallen from 12.3% to 4.9% in 2023.
Conclusion
Considering all these factors, Drexel Heights, Arizona has an overall wealth index grade of D, making it about on par with Arizona, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Drexel Heights, Arizona.
How Rich Is Drexel Heights, Arizona?
Drexel Heights has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $73,437, about 5% lower than the Arizona average of $77,100.
What is the current median household income in Drexel Heights, Arizona?
As of 2023, the median household income in Drexel Heights, Arizona is $73,437.
What was the median household income in Drexel Heights in 2023?
In 2023, the median household income in Drexel Heights, Arizona was $73,437.
What was the median household income in Drexel Heights in 2020?
In 2020, the median household income in Drexel Heights, Arizona was $56,708.
What is the Gini coefficient in Drexel Heights, Arizona?
The Gini coefficient in Drexel Heights is 0.556. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.570, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Drexel Heights, Arizona?
Since 2009, the income gap between men and women in Drexel Heights, Arizona has narrowed from about 21% to 15% in 2023. In dollar terms, the gap has narrowed by $461 since 2009.