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 | Lake Forest | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $131,710 | $96,718 | $78,145 |
| Median Personal Income | $90,312 | $68,943 | $61,726 |
| Average income growth | 4.9% | 6.0% | 5.1% |
| Six-Figure Earners | 25.0% | 16.9% | 13.2% |
The median household income in Lake Forest is about 36% higher than in California. Income has been growing slower in Lake Forest (4.9%/yr) than in California (6.0%/yr).
About 25% of adults in Lake Forest 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 Lake Forest, California grew by 45.6% from 2009 to 2023, reaching $131,710 in 2023. That's an average of about 4.9% per year.
Economic Inequality in Lake Forest | Gender Pay Gap | Gini Coefficient
| Metric | Lake Forest | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.551 | 0.596 | 0.570 |
| Male Median Income | $102,609 | $73,016 | $67,746 |
| Female Median Income | $78,362 | $63,704 | $54,793 |
| Gender Pay Gap | 23.6% | 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 Forest, it is 0.551, 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 31% more than women's income in Lake Forest, California. Over a 35-year career, a 31% wage gap accumulates to roughly $848,645 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 Forest, California has narrowed from about 26% to 24% in 2023. In dollar terms, the gap has widened by $6,495 since 2009.
Employment
| Metric | Lake Forest | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.0% | 6.4% | 5.2% |
| Working from Home | 20.8% | 15.5% | 13.4% |
| Commute time (minutes) | 22 | 23 | 22 |
Approximately 1,740 people are unemployed in Lake Forest, California.
The average commute time in Lake Forest is 22 minutes, shorter than the 23 minutes in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Lake Forest, California has fallen from 6.0% to 4.0% in 2023.
Conclusion
Considering all these factors, Lake Forest, California has an overall wealth index grade of A, making it notably better than California, and notably better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Lake Forest, California.
How Rich Is Lake Forest, California?
Lake Forest 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 residents are much better off than the U.S. average. The median household income is $131,710, about 36% higher than the California average of $96,718.
What is the current median household income in Lake Forest, California?
As of 2023, the median household income in Lake Forest, California is $131,710.
What was the median household income in Lake Forest in 2023?
In 2023, the median household income in Lake Forest, California was $131,710.
What was the median household income in Lake Forest in 2020?
In 2020, the median household income in Lake Forest, California was $110,932.
What is the Gini coefficient in Lake Forest, California?
The Gini coefficient in Lake Forest is 0.551. 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 Forest, California?
Since 2009, the income gap between men and women in Lake Forest, California has narrowed from about 26% to 24% in 2023. In dollar terms, the gap has widened by $6,495 since 2009.