Lake Elsinore, California Income Statistics
Lake Elsinore Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
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C
Lake Elsinore Below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Lake Elsinore | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $97,164 | $99,161 | $80,455 |
| Median Personal Income | $57,632 | $67,742 | $60,758 |
| Average Yearly Income Growth | 6.4% | 5.6% | 4.8% |
| Six-Figure Earners | 12.5% | 17.6% | 13.9% |
| $200k+ Households | 14.3% | 20.5% | 13.2% |
The median household income in Lake Elsinore is about 2% lower than in California. Income has been growing faster in Lake Elsinore (6.4%/yr) than in California (5.6%/yr).
About 12% of adults in Lake Elsinore earn six figures ($100,000 or more) a year, lower than the California average of 18%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Lake Elsinore, California grew by 69.1% from 2009 to 2024, reaching $97,164 in 2024. That's an average of about 6.4% per year.
Income Inequality and the Gender Pay Gap in Lake Elsinore
| Metric | Lake Elsinore | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.593 | 0.572 | 0.552 |
| Male Median Income | $70,817 | $75,172 | $69,667 |
| Female Median Income | $49,525 | $66,071 | $56,850 |
| Gender Pay Gap | 30.1% | 12.1% | 18.4% |
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 Elsinore, it is 0.593, higher than California's 0.572, so income is less evenly distributed here than there, and higher than the US's 0.552, so income is less evenly distributed here than there.
Men's income is about 43% more than women's income in Lake Elsinore, California. Over a 35-year career, a 43% wage gap accumulates to roughly $745,220 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 Elsinore, California has widened from about 24% to 30% in 2024. Over that period the gap was widest at 35% in 2021, and was narrowest at 9% in 2014. In dollar terms, the gap has widened by $9,730 since 2009.
Sharply against the trend: the pay gap in Lake Elsinore widened by 5.6 points while California's narrowed by 4.3 points.
Employment
| Metric | Lake Elsinore | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.3% | 6.6% | 5.2% |
| Working from Home | 12.7% | 17.2% | 15.0% |
| Commute time (minutes) | 33 | 23 | 22 |
Approximately 2,174 people are unemployed in Lake Elsinore, California.
The average commute time in Lake Elsinore is 33 minutes, longer than the 23 minutes in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Lake Elsinore, California has fallen from 14.6% to 6.3% in 2024. Over that period the rate peaked at 16.5% in 2013 and fell as low as 6.1% in 2023.
Lake Elsinore, CA Wealth Compared With Nearby Cities
How Lake Elsinore, CA compares with the 1 cities closest to it.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Lake Elsinore, CA | 70,235 | $97,164 #2/2 | 6.4%/yr #2/2 | 6.3% #1/2 | 0.593 #2/2 |
| Wildomar, CA | 42,987 | $114,265 | 6.6%/yr | 6.6% | 0.584 |
Conclusion
Considering all these factors, Lake Elsinore, 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 Lake Elsinore, California.
How Rich Is Lake Elsinore, California?
Lake Elsinore 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 $97,164, about 2% lower than the California average of $99,161.
Are incomes growing in Lake Elsinore, California?
Between 2009 and 2024, the median household income in Lake Elsinore, California rose 69%, from $57,463 to $97,164. Over the same years, income here outpaced California as a whole: +69% against +64%.
What was the median household income in Lake Elsinore in 2023?
In 2023, the median household income in Lake Elsinore, California was $93,178, up 9% from $85,187 in 2022. The California median that year was $96,718.
What was the median household income in Lake Elsinore in 2020?
In 2020, the median household income in Lake Elsinore, California was $69,401. By 2024 it had risen 40% to $97,164.
What is the Gini coefficient in Lake Elsinore, California?
The Gini coefficient in Lake Elsinore is 0.593. 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 0.552, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Lake Elsinore, California?
Since 2009, the income gap between men and women in Lake Elsinore, California has widened from about 24% to 30% in 2024. Over that period the gap was widest at 35% in 2021, and was narrowest at 9% in 2014. In dollar terms, the gap has widened by $9,730 since 2009.
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