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 | Sierra Vista | Arizona Avg | US Average |
|---|---|---|---|
| Median Household Income | $66,244 | $77,100 | $78,145 |
| Median Personal Income | $57,777 | $58,256 | $61,726 |
| Average income growth | 3.0% | 5.9% | 5.1% |
| Six-Figure Earners | 10.7% | 11.7% | 13.2% |
The median household income in Sierra Vista is about 14% lower than in Arizona. Income has been growing slower in Sierra Vista (3.0%/yr) than in Arizona (5.9%/yr).
About 11% of adults in Sierra Vista 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 Sierra Vista, Arizona grew by 33.2% from 2009 to 2023, reaching $66,244 in 2023. That's an average of about 3.0% per year.
Economic Inequality in Sierra Vista | Gender Pay Gap | Gini Coefficient
| Metric | Sierra Vista | Arizona Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.547 | 0.571 | 0.570 |
| Male Median Income | $65,719 | $63,179 | $67,746 |
| Female Median Income | $47,648 | $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 Sierra Vista, it is 0.547, 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 Sierra Vista, Arizona. Over a 35-year career, a 38% wage gap accumulates to roughly $632,485 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Sierra Vista, Arizona has narrowed from about 30% to 27% in 2023. In dollar terms, the gap has widened by $4,645 since 2009.
Employment
| Metric | Sierra Vista | Arizona Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.8% | 5.1% | 5.2% |
| Working from Home | 10.9% | 16.5% | 13.4% |
| Commute time (minutes) | 13 | 22 | 22 |
Approximately 683 people are unemployed in Sierra Vista, Arizona.
The average commute time in Sierra Vista is 13 minutes, shorter than the 22 minutes in Arizona.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Sierra Vista, Arizona has fallen from 6.4% to 3.8% in 2023.
Conclusion
Considering all these factors, Sierra Vista, 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 Sierra Vista, Arizona.
How Rich Is Sierra Vista, Arizona?
Sierra Vista 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 $66,244, about 14% lower than the Arizona average of $77,100.
What is the current median household income in Sierra Vista, Arizona?
As of 2023, the median household income in Sierra Vista, Arizona is $66,244.
What was the median household income in Sierra Vista in 2023?
In 2023, the median household income in Sierra Vista, Arizona was $66,244.
What was the median household income in Sierra Vista in 2020?
In 2020, the median household income in Sierra Vista, Arizona was $57,903.
What is the Gini coefficient in Sierra Vista, Arizona?
The Gini coefficient in Sierra Vista is 0.547. 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 Sierra Vista, Arizona?
Since 2009, the income gap between men and women in Sierra Vista, Arizona has narrowed from about 30% to 27% in 2023. In dollar terms, the gap has widened by $4,645 since 2009.