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 | Cudahy | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $53,601 | $96,718 | $78,145 |
| Median Personal Income | $35,428 | $68,943 | $61,726 |
| Average income growth | 4.7% | 6.0% | 5.1% |
| Six-Figure Earners | 1.6% | 16.9% | 13.2% |
The median household income in Cudahy is about 45% lower than in California. Income has been growing slower in Cudahy (4.7%/yr) than in California (6.0%/yr).
About 2% of adults in Cudahy earn six figures ($100,000 or more) a year, lower than the California average of 17%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Cudahy, California grew by 28.0% from 2009 to 2023, reaching $53,601 in 2023. That's an average of about 4.7% per year.
Economic Inequality in Cudahy | Gender Pay Gap | Gini Coefficient
| Metric | Cudahy | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.564 | 0.596 | 0.570 |
| Male Median Income | $36,201 | $73,016 | $67,746 |
| Female Median Income | $34,218 | $63,704 | $54,793 |
| Gender Pay Gap | 5.5% | 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 Cudahy, it is 0.564, 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 6% more than women's income in Cudahy, California. Over a 35-year career, a 6% wage gap accumulates to roughly $69,405 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Cudahy, California has narrowed from about 12% to 5% in 2023. In dollar terms, the gap has narrowed by $1,162 since 2009.
Employment
| Metric | Cudahy | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 8.9% | 6.4% | 5.2% |
| Working from Home | 3.6% | 15.5% | 13.4% |
| Commute time (minutes) | 30 | 23 | 22 |
Approximately 919 people are unemployed in Cudahy, California.
The average commute time in Cudahy is 30 minutes, longer than the 23 minutes in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Cudahy, California has fallen from 10.8% to 8.9% in 2023.
Conclusion
Considering all these factors, Cudahy, California has an overall wealth index grade of F, making it worse than California, and worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Cudahy, California.
How Rich Is Cudahy, California?
Cudahy has a wealth index grade of F. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an F grade means residents are well below the U.S. average. The median household income is $53,601, about 45% lower than the California average of $96,718.
What is the current median household income in Cudahy, California?
As of 2023, the median household income in Cudahy, California is $53,601.
What was the median household income in Cudahy in 2023?
In 2023, the median household income in Cudahy, California was $53,601.
What was the median household income in Cudahy in 2020?
In 2020, the median household income in Cudahy, California was $46,125.
What is the Gini coefficient in Cudahy, California?
The Gini coefficient in Cudahy is 0.564. 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 Cudahy, California?
Since 2009, the income gap between men and women in Cudahy, California has narrowed from about 12% to 5% in 2023. In dollar terms, the gap has narrowed by $1,162 since 2009.