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 | Peoria | Arizona Avg | US Average |
|---|---|---|---|
| Median Household Income | $93,442 | $77,100 | $78,145 |
| Median Personal Income | $65,740 | $58,256 | $61,726 |
| Average income growth | 5.4% | 5.9% | 5.1% |
| Six-Figure Earners | 14.8% | 11.7% | 13.2% |
The median household income in Peoria is about 21% higher than in Arizona. Income has been growing slower in Peoria (5.4%/yr) than in Arizona (5.9%/yr).
About 15% of adults in Peoria 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 Peoria, Arizona grew by 47.9% from 2009 to 2023, reaching $93,442 in 2023. That's an average of about 5.4% per year.
Economic Inequality in Peoria | Gender Pay Gap | Gini Coefficient
| Metric | Peoria | Arizona Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.543 | 0.571 | 0.570 |
| Male Median Income | $74,766 | $63,179 | $67,746 |
| Female Median Income | $57,502 | $52,803 | $54,793 |
| Gender Pay Gap | 23.1% | 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 Peoria, it is 0.543, 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 30% more than women's income in Peoria, Arizona. Over a 35-year career, a 30% wage gap accumulates to roughly $604,240 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Peoria, Arizona has widened from about 22% to 23% in 2023. In dollar terms, the gap has widened by $6,146 since 2009.
Employment
| Metric | Peoria | Arizona Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.6% | 5.1% | 5.2% |
| Working from Home | 20.1% | 16.5% | 13.4% |
| Commute time (minutes) | 26 | 22 | 22 |
Approximately 3,378 people are unemployed in Peoria, Arizona.
The average commute time in Peoria is 26 minutes, longer than the 22 minutes in Arizona.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Peoria, Arizona has fallen from 7.2% to 3.6% in 2023.
Conclusion
Considering all these factors, Peoria, Arizona has an overall wealth index grade of B, making it somewhat better than Arizona, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Peoria, Arizona.
How Rich Is Peoria, Arizona?
Peoria 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 $93,442, about 21% higher than the Arizona average of $77,100.
What is the current median household income in Peoria, Arizona?
As of 2023, the median household income in Peoria, Arizona is $93,442.
What was the median household income in Peoria in 2023?
In 2023, the median household income in Peoria, Arizona was $93,442.
What was the median household income in Peoria in 2020?
In 2020, the median household income in Peoria, Arizona was $75,755.
What is the Gini coefficient in Peoria, Arizona?
The Gini coefficient in Peoria is 0.543. 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 Peoria, Arizona?
Since 2009, the income gap between men and women in Peoria, Arizona has widened from about 22% to 23% in 2023. In dollar terms, the gap has widened by $6,146 since 2009.