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 | Lake Havasu City | Arizona Avg | US Average |
|---|---|---|---|
| Median Household Income | $67,429 | $77,100 | $78,145 |
| Median Personal Income | $53,456 | $58,256 | $61,726 |
| Average income growth | 6.3% | 5.9% | 5.1% |
| Six-Figure Earners | 10.0% | 11.7% | 13.2% |
The median household income in Lake Havasu City is about 13% lower than in Arizona. Income has been growing faster in Lake Havasu City (6.3%/yr) than in Arizona (5.9%/yr).
About 10% of adults in Lake Havasu City 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 Lake Havasu City, Arizona grew by 54.7% from 2009 to 2023, reaching $67,429 in 2023. That's an average of about 6.3% per year.
Economic Inequality in Lake Havasu City | Gender Pay Gap | Gini Coefficient
| Metric | Lake Havasu City | Arizona Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.530 | 0.571 | 0.570 |
| Male Median Income | $54,672 | $63,179 | $67,746 |
| Female Median Income | $52,220 | $52,803 | $54,793 |
| Gender Pay Gap | 4.5% | 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 Lake Havasu City, it is 0.530, 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 5% more than women's income in Lake Havasu City, Arizona. Over a 35-year career, a 5% wage gap accumulates to roughly $85,820 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Lake Havasu City, Arizona has narrowed from about 24% to 4% in 2023. In dollar terms, the gap has narrowed by $7,558 since 2009.
Employment
| Metric | Lake Havasu City | Arizona Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.3% | 5.1% | 5.2% |
| Working from Home | 8.6% | 16.5% | 13.4% |
| Commute time (minutes) | 13 | 22 | 22 |
Approximately 1,030 people are unemployed in Lake Havasu City, Arizona.
The average commute time in Lake Havasu City is 13 minutes, shorter than the 22 minutes in Arizona.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Lake Havasu City, Arizona has fallen from 9.6% to 5.3% in 2023.
Conclusion
Considering all these factors, Lake Havasu City, Arizona has an overall wealth index grade of C, making it about on par with Arizona, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Lake Havasu City, Arizona.
How Rich Is Lake Havasu City, Arizona?
Lake Havasu City has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $67,429, about 13% lower than the Arizona average of $77,100.
What is the current median household income in Lake Havasu City, Arizona?
As of 2023, the median household income in Lake Havasu City, Arizona is $67,429.
What was the median household income in Lake Havasu City in 2023?
In 2023, the median household income in Lake Havasu City, Arizona was $67,429.
What was the median household income in Lake Havasu City in 2020?
In 2020, the median household income in Lake Havasu City, Arizona was $57,811.
What is the Gini coefficient in Lake Havasu City, Arizona?
The Gini coefficient in Lake Havasu City is 0.530. 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 Lake Havasu City, Arizona?
Since 2009, the income gap between men and women in Lake Havasu City, Arizona has narrowed from about 24% to 4% in 2023. In dollar terms, the gap has narrowed by $7,558 since 2009.