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 | Long Beach | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $84,489 | $96,718 | $78,145 |
| Median Personal Income | $61,651 | $68,943 | $61,726 |
| Average income growth | 6.2% | 6.0% | 5.1% |
| Six-Figure Earners | 14.3% | 16.9% | 13.2% |
The median household income in Long Beach is about 13% lower than in California. Income has been growing faster in Long Beach (6.2%/yr) than in California (6.0%/yr).
About 14% of adults in Long Beach 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 Long Beach, California grew by 67.4% from 2009 to 2023, reaching $84,489 in 2023. That's an average of about 6.2% per year.
Economic Inequality in Long Beach | Gender Pay Gap | Gini Coefficient
| Metric | Long Beach | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.588 | 0.596 | 0.570 |
| Male Median Income | $63,521 | $73,016 | $67,746 |
| Female Median Income | $59,432 | $63,704 | $54,793 |
| Gender Pay Gap | 6.4% | 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 Long Beach, it is 0.588, 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 7% more than women's income in Long Beach, California. Over a 35-year career, a 7% wage gap accumulates to roughly $143,115 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Long Beach, California has narrowed from about 7% to 6% in 2023. In dollar terms, the gap has widened by $908 since 2009.
Employment
| Metric | Long Beach | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.5% | 6.4% | 5.2% |
| Working from Home | 14.3% | 15.5% | 13.4% |
| Commute time (minutes) | 26 | 23 | 22 |
Approximately 16,252 people are unemployed in Long Beach, California.
The average commute time in Long Beach is 26 minutes, longer than the 23 minutes in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Long Beach, California has fallen from 11.0% to 6.5% in 2023.
Conclusion
Considering all these factors, Long Beach, 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 Long Beach, California.
How Rich Is Long Beach, California?
Long Beach 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 $84,489, about 13% lower than the California average of $96,718.
What is the current median household income in Long Beach, California?
As of 2023, the median household income in Long Beach, California is $84,489.
What was the median household income in Long Beach in 2023?
In 2023, the median household income in Long Beach, California was $84,489.
What was the median household income in Long Beach in 2020?
In 2020, the median household income in Long Beach, California was $67,322.
What is the Gini coefficient in Long Beach, California?
The Gini coefficient in Long Beach is 0.588. 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 Long Beach, California?
Since 2009, the income gap between men and women in Long Beach, California has narrowed from about 7% to 6% in 2023. In dollar terms, the gap has widened by $908 since 2009.