Wealth Index
Less wealthy than 77% of counties in California
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 | Lake County | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $58,641 | $96,718 | $78,145 |
| Median Personal Income | $55,941 | $68,943 | $61,726 |
| Average income growth | 7.2% | 6.0% | 5.1% |
| Six-Figure Earners | 8.9% | 16.9% | 13.2% |
The median household income in Lake County is about 39% lower than in California. Income has been growing faster in Lake County (7.2%/yr) than in California (6.0%/yr).
About 9% of adults in Lake County 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 Lake County, California grew by 42.2% from 2009 to 2023, reaching $58,641 in 2023. That's an average of about 7.2% per year.
Economic Inequality in Lake County | Gender Pay Gap | Gini Coefficient
| Metric | Lake County | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.564 | 0.596 | 0.570 |
| Male Median Income | $58,504 | $73,016 | $67,746 |
| Female Median Income | $53,183 | $63,704 | $54,793 |
| Gender Pay Gap | 9.1% | 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 Lake County, 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 10% more than women's income in Lake County, California. Over a 35-year career, a 10% wage gap accumulates to roughly $186,235 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Lake County, California has narrowed from about 21% to 9% in 2023. In dollar terms, the gap has narrowed by $4,009 since 2009.
Employment
| Metric | Lake County | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 11.5% | 6.4% | 5.2% |
| Working from Home | 15.8% | 15.5% | 13.4% |
| Commute time (minutes) | 22 | 23 | 22 |
Approximately 3,220 people are unemployed in Lake County, California.
The average commute time in Lake County is 22 minutes, shorter than the 23 minutes in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Lake County, California has fallen from 13.4% to 11.5% in 2023.
Conclusion
Considering all these factors, Lake County, California has an overall wealth index grade of D, making it somewhat worse than California, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Lake County, California.
How Rich Is Lake County, California?
Lake County has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $58,641, about 39% lower than the California average of $96,718.
What is the current median household income in Lake County, California?
As of 2023, the median household income in Lake County, California is $58,641.
What was the median household income in Lake County in 2023?
In 2023, the median household income in Lake County, California was $58,641.
What was the median household income in Lake County in 2020?
In 2020, the median household income in Lake County, California was $49,034.
What is the Gini coefficient in Lake County, California?
The Gini coefficient in Lake County 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 Lake County, California?
Since 2009, the income gap between men and women in Lake County, California has narrowed from about 21% to 9% in 2023. In dollar terms, the gap has narrowed by $4,009 since 2009.