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 | Gilbert | Arizona Avg | US Average |
|---|---|---|---|
| Median Household Income | $120,771 | $77,100 | $78,145 |
| Median Personal Income | $81,547 | $58,256 | $61,726 |
| Average income growth | 4.8% | 5.9% | 5.1% |
| Six-Figure Earners | 21.7% | 11.7% | 13.2% |
The median household income in Gilbert is about 57% higher than in Arizona. Income has been growing slower in Gilbert (4.8%/yr) than in Arizona (5.9%/yr).
About 22% of adults in Gilbert earn six figures ($100,000 or more) a year, higher than the Arizona average of 12%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Gilbert, Arizona grew by 49.2% from 2009 to 2023, reaching $120,771 in 2023. That's an average of about 4.8% per year.
Economic Inequality in Gilbert | Gender Pay Gap | Gini Coefficient
| Metric | Gilbert | Arizona Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.556 | 0.571 | 0.570 |
| Male Median Income | $93,666 | $63,179 | $67,746 |
| Female Median Income | $67,878 | $52,803 | $54,793 |
| Gender Pay Gap | 27.5% | 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 Gilbert, 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 38% more than women's income in Gilbert, Arizona. Over a 35-year career, a 38% wage gap accumulates to roughly $902,580 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Gilbert, Arizona has narrowed from about 30% to 28% in 2023. In dollar terms, the gap has widened by $7,167 since 2009.
Employment
| Metric | Gilbert | Arizona Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.3% | 5.1% | 5.2% |
| Working from Home | 23.6% | 16.5% | 13.4% |
| Commute time (minutes) | 23 | 22 | 22 |
Approximately 4,673 people are unemployed in Gilbert, Arizona.
The average commute time in Gilbert is 23 minutes, longer than the 22 minutes in Arizona.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Gilbert, Arizona has fallen from 6.6% to 3.3% in 2023.
Conclusion
Considering all these factors, Gilbert, Arizona has an overall wealth index grade of B, making it notably better than Arizona, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Gilbert, Arizona.
How Rich Is Gilbert, Arizona?
Gilbert has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $120,771, about 57% higher than the Arizona average of $77,100.
What is the current median household income in Gilbert, Arizona?
As of 2023, the median household income in Gilbert, Arizona is $120,771.
What was the median household income in Gilbert in 2023?
In 2023, the median household income in Gilbert, Arizona was $120,771.
What was the median household income in Gilbert in 2020?
In 2020, the median household income in Gilbert, Arizona was $98,658.
What is the Gini coefficient in Gilbert, Arizona?
The Gini coefficient in Gilbert 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 Gilbert, Arizona?
Since 2009, the income gap between men and women in Gilbert, Arizona has narrowed from about 30% to 28% in 2023. In dollar terms, the gap has widened by $7,167 since 2009.