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 | Granite Bay | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $186,431 | $96,718 | $78,145 |
| Median Personal Income | $122,279 | $68,943 | $61,726 |
| Average income growth | 6.5% | 6.0% | 5.1% |
| Six-Figure Earners | 33.2% | 16.9% | 13.2% |
The median household income in Granite Bay is about 93% higher than in California. Income has been growing faster in Granite Bay (6.5%/yr) than in California (6.0%/yr).
About 33% of adults in Granite Bay 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 Granite Bay, California grew by 52.1% from 2009 to 2023, reaching $186,431 in 2023. That's an average of about 6.5% per year.
Economic Inequality in Granite Bay | Gender Pay Gap | Gini Coefficient
| Metric | Granite Bay | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.576 | 0.596 | 0.570 |
| Male Median Income | $135,291 | $73,016 | $67,746 |
| Female Median Income | $94,251 | $63,704 | $54,793 |
| Gender Pay Gap | 30.3% | 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 Granite Bay, it is 0.576, 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 44% more than women's income in Granite Bay, California. Over a 35-year career, a 44% wage gap accumulates to roughly $1,436,400 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Granite Bay, California has narrowed from about 34% to 30% in 2023. In dollar terms, the gap has widened by $4,691 since 2009.
Employment
| Metric | Granite Bay | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.0% | 6.4% | 5.2% |
| Working from Home | 22.7% | 15.5% | 13.4% |
| Commute time (minutes) | 22 | 23 | 22 |
Approximately 481 people are unemployed in Granite Bay, California.
The average commute time in Granite Bay is 22 minutes, shorter than the 23 minutes in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Granite Bay, California has fallen from 7.7% to 5.0% in 2023.
Conclusion
Considering all these factors, Granite Bay, California has an overall wealth index grade of A+, making it far better than California, and far better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Granite Bay, California.
How Rich Is Granite Bay, California?
Granite Bay 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 it is one of the most prosperous areas in the country. The median household income is $186,431, about 93% higher than the California average of $96,718.
What is the current median household income in Granite Bay, California?
As of 2023, the median household income in Granite Bay, California is $186,431.
What was the median household income in Granite Bay in 2023?
In 2023, the median household income in Granite Bay, California was $186,431.
What was the median household income in Granite Bay in 2020?
In 2020, the median household income in Granite Bay, California was $160,040.
What is the Gini coefficient in Granite Bay, California?
The Gini coefficient in Granite Bay is 0.576. 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 Granite Bay, California?
Since 2009, the income gap between men and women in Granite Bay, California has narrowed from about 34% to 30% in 2023. In dollar terms, the gap has widened by $4,691 since 2009.