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 | Burbank | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $96,468 | $96,718 | $78,145 |
| Median Personal Income | $82,879 | $68,943 | $61,726 |
| Average income growth | 5.3% | 6.0% | 5.1% |
| Six-Figure Earners | 20.7% | 16.9% | 13.2% |
The median household income in Burbank is about the same as in California. Income has been growing slower in Burbank (5.3%/yr) than in California (6.0%/yr).
About 21% of adults in Burbank earn six figures ($100,000 or more) a year, higher than the California average of 17%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Burbank, California grew by 55.5% from 2009 to 2023, reaching $96,468 in 2023. That's an average of about 5.3% per year.
Economic Inequality in Burbank | Gender Pay Gap | Gini Coefficient
| Metric | Burbank | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.572 | 0.596 | 0.570 |
| Male Median Income | $90,375 | $73,016 | $67,746 |
| Female Median Income | $73,590 | $63,704 | $54,793 |
| Gender Pay Gap | 18.6% | 12.8% | 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 Burbank, it is 0.572, lower than California's 0.596, so income is more evenly distributed here than there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 23% more than women's income in Burbank, California. Over a 35-year career, a 23% wage gap accumulates to roughly $587,475 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Burbank, California has widened from about 14% to 19% in 2023. In dollar terms, the gap has widened by $9,327 since 2009.
Employment
| Metric | Burbank | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.9% | 6.4% | 5.2% |
| Working from Home | 27.4% | 15.5% | 13.4% |
| Commute time (minutes) | 22 | 23 | 22 |
Approximately 4,019 people are unemployed in Burbank, California.
The average commute time in Burbank is 22 minutes, shorter than the 23 minutes in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Burbank, California has fallen from 7.9% to 6.9% in 2023.
Conclusion
Considering all these factors, Burbank, California has an overall wealth index grade of B, making it somewhat better than California, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Burbank, California.
How Rich Is Burbank, California?
Burbank 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 $96,468, close to the California average of $96,718.
What is the current median household income in Burbank, California?
As of 2023, the median household income in Burbank, California is $96,468.
What was the median household income in Burbank in 2023?
In 2023, the median household income in Burbank, California was $96,468.
What was the median household income in Burbank in 2020?
In 2020, the median household income in Burbank, California was $80,093.
What is the Gini coefficient in Burbank, California?
The Gini coefficient in Burbank is 0.572. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Burbank, California?
Since 2009, the income gap between men and women in Burbank, California has widened from about 14% to 19% in 2023. In dollar terms, the gap has widened by $9,327 since 2009.