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 | El Paso de Robles (Paso Robles) | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $90,716 | $96,718 | $78,145 |
| Median Personal Income | $59,546 | $68,943 | $61,726 |
| Average income growth | 6.0% | 6.0% | 5.1% |
| Six-Figure Earners | 14.6% | 16.9% | 13.2% |
The median household income in El Paso de Robles (Paso Robles) is about 6% lower than in California. Income has been growing slower in El Paso de Robles (Paso Robles) (6.0%/yr) than in California (6.0%/yr).
About 15% of adults in El Paso de Robles (Paso Robles) 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 El Paso de Robles (Paso Robles), California grew by 58.0% from 2009 to 2023, reaching $90,716 in 2023. That's an average of about 6.0% per year.
Economic Inequality in El Paso de Robles (Paso Robles) | Gender Pay Gap | Gini Coefficient
| Metric | El Paso de Robles (Paso Robles) | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.542 | 0.596 | 0.570 |
| Male Median Income | $60,852 | $73,016 | $67,746 |
| Female Median Income | $58,555 | $63,704 | $54,793 |
| Gender Pay Gap | 3.8% | 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 El Paso de Robles (Paso Robles), it is 0.542, 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 4% more than women's income in El Paso de Robles (Paso Robles), California. Over a 35-year career, a 4% wage gap accumulates to roughly $80,395 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in El Paso de Robles (Paso Robles), California has narrowed from about 30% to 4% in 2023. In dollar terms, the gap has narrowed by $14,393 since 2009.
Employment
| Metric | El Paso de Robles (Paso Robles) | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.6% | 6.4% | 5.2% |
| Working from Home | 9.8% | 15.5% | 13.4% |
| Commute time (minutes) | 18 | 23 | 22 |
Approximately 569 people are unemployed in El Paso de Robles (Paso Robles), California.
The average commute time in El Paso de Robles (Paso Robles) is 18 minutes, shorter than the 23 minutes in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in El Paso de Robles (Paso Robles), California has fallen from 9.1% to 4.6% in 2023.
Conclusion
Considering all these factors, El Paso de Robles (Paso Robles), 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 El Paso de Robles (Paso Robles), California.
How Wealthy Is El Paso de Robles (Paso Robles), California?
El Paso de Robles (Paso Robles) 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 $90,716, about 6% lower than the California average of $96,718.
What is the current median household income in El Paso de Robles (Paso Robles), California?
As of 2023, the median household income in El Paso de Robles (Paso Robles), California is $90,716.
What was the median household income in El Paso de Robles (Paso Robles) in 2023?
In 2023, the median household income in El Paso de Robles (Paso Robles), California was $90,716.
What was the median household income in El Paso de Robles (Paso Robles) in 2020?
In 2020, the median household income in El Paso de Robles (Paso Robles), California was $72,805.
What is the Gini coefficient in El Paso de Robles (Paso Robles), California?
The Gini coefficient in El Paso de Robles (Paso Robles) is 0.542. 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 El Paso de Robles (Paso Robles), California?
Since 2009, the income gap between men and women in El Paso de Robles (Paso Robles), California has narrowed from about 30% to 4% in 2023. In dollar terms, the gap has narrowed by $14,393 since 2009.