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 | Downey | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $89,713 | $96,718 | $78,145 |
| Median Personal Income | $58,737 | $68,943 | $61,726 |
| Average income growth | 4.8% | 6.0% | 5.1% |
| Six-Figure Earners | 10.7% | 16.9% | 13.2% |
The median household income in Downey is about 7% lower than in California. Income has been growing slower in Downey (4.8%/yr) than in California (6.0%/yr).
About 11% of adults in Downey 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 Downey, California grew by 54.9% from 2009 to 2023, reaching $89,713 in 2023. That's an average of about 4.8% per year.
Economic Inequality in Downey | Gender Pay Gap | Gini Coefficient
| Metric | Downey | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.575 | 0.596 | 0.570 |
| Male Median Income | $64,214 | $73,016 | $67,746 |
| Female Median Income | $52,426 | $63,704 | $54,793 |
| Gender Pay Gap | 18.4% | 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 Downey, it is 0.575, lower than California's 0.596, so income is more evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 22% more than women's income in Downey, California. Over a 35-year career, a 22% wage gap accumulates to roughly $412,580 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Downey, California has widened from about 10% to 18% in 2023. In dollar terms, the gap has widened by $7,465 since 2009.
Employment
| Metric | Downey | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.8% | 6.4% | 5.2% |
| Working from Home | 8.2% | 15.5% | 13.4% |
| Commute time (minutes) | 28 | 23 | 22 |
Approximately 3,484 people are unemployed in Downey, California.
The average commute time in Downey is 28 minutes, longer than the 23 minutes in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Downey, California has fallen from 10.5% to 5.8% in 2023.
Conclusion
Considering all these factors, Downey, California has an overall wealth index grade of C, making it about on par with California, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Downey, California.
How Rich Is Downey, California?
Downey 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 $89,713, about 7% lower than the California average of $96,718.
What is the current median household income in Downey, California?
As of 2023, the median household income in Downey, California is $89,713.
What was the median household income in Downey in 2023?
In 2023, the median household income in Downey, California was $89,713.
What was the median household income in Downey in 2020?
In 2020, the median household income in Downey, California was $76,805.
What is the Gini coefficient in Downey, California?
The Gini coefficient in Downey is 0.575. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Downey, California?
Since 2009, the income gap between men and women in Downey, California has widened from about 10% to 18% in 2023. In dollar terms, the gap has widened by $7,465 since 2009.