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 | Florence-Graham | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $61,572 | $96,718 | $78,145 |
| Median Personal Income | $38,522 | $68,943 | $61,726 |
| Average income growth | 8.6% | 6.0% | 5.1% |
| Six-Figure Earners | 1.8% | 16.9% | 13.2% |
The median household income in Florence-Graham is about 36% lower than in California. Income has been growing faster in Florence-Graham (8.6%/yr) than in California (6.0%/yr).
About 2% of adults in Florence-Graham 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 Florence-Graham, California grew by 78.7% from 2009 to 2023, reaching $61,572 in 2023. That's an average of about 8.6% per year.
Economic Inequality in Florence-Graham | Gender Pay Gap | Gini Coefficient
| Metric | Florence-Graham | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.577 | 0.596 | 0.570 |
| Male Median Income | $38,668 | $73,016 | $67,746 |
| Female Median Income | $38,311 | $63,704 | $54,793 |
| Gender Pay Gap | 0.9% | 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 Florence-Graham, it is 0.577, 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 1% more than women's income in Florence-Graham, California.
Income by Sex Over Time
Since 2009, the income gap between men and women in Florence-Graham, California has narrowed from about 14% to 1% in 2023. In dollar terms, the gap has narrowed by $3,129 since 2009.
Employment
| Metric | Florence-Graham | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 9.9% | 6.4% | 5.2% |
| Working from Home | 4.4% | 15.5% | 13.4% |
| Commute time (minutes) | 31 | 23 | 22 |
Approximately 2,739 people are unemployed in Florence-Graham, California.
The average commute time in Florence-Graham is 31 minutes, longer than the 23 minutes in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Florence-Graham, California has risen from 9.3% to 9.9% in 2023.
Conclusion
Considering all these factors, Florence-Graham, 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 Florence-Graham, California.
How Rich Is Florence-Graham, California?
Florence-Graham 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 $61,572, about 36% lower than the California average of $96,718.
What is the current median household income in Florence-Graham, California?
As of 2023, the median household income in Florence-Graham, California is $61,572.
What was the median household income in Florence-Graham in 2023?
In 2023, the median household income in Florence-Graham, California was $61,572.
What was the median household income in Florence-Graham in 2020?
In 2020, the median household income in Florence-Graham, California was $49,983.
What is the Gini coefficient in Florence-Graham, California?
The Gini coefficient in Florence-Graham is 0.577. 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 Florence-Graham, California?
Since 2009, the income gap between men and women in Florence-Graham, California has narrowed from about 14% to 1% in 2023. In dollar terms, the gap has narrowed by $3,129 since 2009.