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 | Castro Valley | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $128,948 | $96,718 | $78,145 |
| Median Personal Income | $91,553 | $68,943 | $61,726 |
| Average income growth | 6.6% | 6.0% | 5.1% |
| Six-Figure Earners | 25.3% | 16.9% | 13.2% |
The median household income in Castro Valley is about 33% higher than in California. Income has been growing faster in Castro Valley (6.6%/yr) than in California (6.0%/yr).
About 25% of adults in Castro Valley 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 Castro Valley, California grew by 77.0% from 2009 to 2023, reaching $128,948 in 2023. That's an average of about 6.6% per year.
Economic Inequality in Castro Valley | Gender Pay Gap | Gini Coefficient
| Metric | Castro Valley | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.543 | 0.596 | 0.570 |
| Male Median Income | $98,794 | $73,016 | $67,746 |
| Female Median Income | $81,092 | $63,704 | $54,793 |
| Gender Pay Gap | 17.9% | 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 Castro Valley, it is 0.543, lower than California's 0.596, 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 22% more than women's income in Castro Valley, California. Over a 35-year career, a 22% wage gap accumulates to roughly $619,570 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Castro Valley, California has narrowed from about 21% to 18% in 2023. In dollar terms, the gap has widened by $4,309 since 2009.
Employment
| Metric | Castro Valley | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.9% | 6.4% | 5.2% |
| Working from Home | 18.3% | 15.5% | 13.4% |
| Commute time (minutes) | 30 | 23 | 22 |
Approximately 1,218 people are unemployed in Castro Valley, California.
The average commute time in Castro Valley is 30 minutes, longer than the 23 minutes in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Castro Valley, California has fallen from 8.3% to 3.9% in 2023.
Conclusion
Considering all these factors, Castro Valley, California has an overall wealth index grade of A, making it notably better than California, and notably better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Castro Valley, California.
How Rich Is Castro Valley, California?
Castro Valley has a wealth index grade of A. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an A grade means residents are much better off than the U.S. average. The median household income is $128,948, about 33% higher than the California average of $96,718.
What is the current median household income in Castro Valley, California?
As of 2023, the median household income in Castro Valley, California is $128,948.
What was the median household income in Castro Valley in 2023?
In 2023, the median household income in Castro Valley, California was $128,948.
What was the median household income in Castro Valley in 2020?
In 2020, the median household income in Castro Valley, California was $105,564.
What is the Gini coefficient in Castro Valley, California?
The Gini coefficient in Castro Valley 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 Castro Valley, California?
Since 2009, the income gap between men and women in Castro Valley, California has narrowed from about 21% to 18% in 2023. In dollar terms, the gap has widened by $4,309 since 2009.