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 | Prescott Valley | Arizona Avg | US Average |
|---|---|---|---|
| Median Household Income | $69,448 | $77,100 | $78,145 |
| Median Personal Income | $53,833 | $58,256 | $61,726 |
| Average income growth | 7.2% | 5.9% | 5.1% |
| Six-Figure Earners | 7.3% | 11.7% | 13.2% |
The median household income in Prescott Valley is about 10% lower than in Arizona. Income has been growing faster in Prescott Valley (7.2%/yr) than in Arizona (5.9%/yr).
About 7% of adults in Prescott Valley 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 Prescott Valley, Arizona grew by 61.8% from 2009 to 2023, reaching $69,448 in 2023. That's an average of about 7.2% per year.
Economic Inequality in Prescott Valley | Gender Pay Gap | Gini Coefficient
| Metric | Prescott Valley | Arizona Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.515 | 0.571 | 0.570 |
| Male Median Income | $57,211 | $63,179 | $67,746 |
| Female Median Income | $49,661 | $52,803 | $54,793 |
| Gender Pay Gap | 13.2% | 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 Prescott Valley, it is 0.515, 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 15% more than women's income in Prescott Valley, Arizona. Over a 35-year career, a 15% wage gap accumulates to roughly $264,250 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Prescott Valley, Arizona has narrowed from about 25% to 13% in 2023. In dollar terms, the gap has narrowed by $2,272 since 2009.
Employment
| Metric | Prescott Valley | Arizona Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.1% | 5.1% | 5.2% |
| Working from Home | 10.1% | 16.5% | 13.4% |
| Commute time (minutes) | 20 | 22 | 22 |
Approximately 789 people are unemployed in Prescott Valley, Arizona.
The average commute time in Prescott Valley is 20 minutes, shorter than the 22 minutes in Arizona.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Prescott Valley, Arizona has fallen from 8.8% to 4.1% in 2023.
Conclusion
Considering all these factors, Prescott Valley, 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 Prescott Valley, Arizona.
How Rich Is Prescott Valley, Arizona?
Prescott Valley 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 $69,448, about 10% lower than the Arizona average of $77,100.
What is the current median household income in Prescott Valley, Arizona?
As of 2023, the median household income in Prescott Valley, Arizona is $69,448.
What was the median household income in Prescott Valley in 2023?
In 2023, the median household income in Prescott Valley, Arizona was $69,448.
What was the median household income in Prescott Valley in 2020?
In 2020, the median household income in Prescott Valley, Arizona was $52,973.
What is the Gini coefficient in Prescott Valley, Arizona?
The Gini coefficient in Prescott Valley is 0.515. 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 Prescott Valley, Arizona?
Since 2009, the income gap between men and women in Prescott Valley, Arizona has narrowed from about 25% to 13% in 2023. In dollar terms, the gap has narrowed by $2,272 since 2009.