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 | Los Angeles | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $80,472 | $96,718 | $78,145 |
| Median Personal Income | $61,111 | $68,943 | $61,726 |
| Average income growth | 6.5% | 6.0% | 5.1% |
| Six-Figure Earners | 14.5% | 16.9% | 13.2% |
The median household income in Los Angeles is about 17% lower than in California. Income has been growing faster in Los Angeles (6.5%/yr) than in California (6.0%/yr).
About 14% of adults in Los Angeles 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 Los Angeles, California grew by 66.6% from 2009 to 2023, reaching $80,472 in 2023. That's an average of about 6.5% per year.
Economic Inequality in Los Angeles | Gender Pay Gap | Gini Coefficient
| Metric | Los Angeles | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.601 | 0.596 | 0.570 |
| Male Median Income | $62,077 | $73,016 | $67,746 |
| Female Median Income | $59,995 | $63,704 | $54,793 |
| Gender Pay Gap | 3.4% | 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 Los Angeles, it is 0.601, about the same as California's 0.596, so income here is about as evenly distributed as there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 3% more than women's income in Los Angeles, California. Over a 35-year career, a 3% wage gap accumulates to roughly $72,870 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Los Angeles, California has widened from about 1% to 3% in 2023. In dollar terms, the gap has widened by $1,576 since 2009.
Employment
| Metric | Los Angeles | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 7.9% | 6.4% | 5.2% |
| Working from Home | 17.3% | 15.5% | 13.4% |
| Commute time (minutes) | 30 | 23 | 22 |
Approximately 167,993 people are unemployed in Los Angeles, California.
The average commute time in Los Angeles is 30 minutes, longer than the 23 minutes in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Los Angeles, California has fallen from 10.3% to 7.9% in 2023.
Conclusion
Considering all these factors, Los Angeles, 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 Los Angeles, California.
How Rich Is Los Angeles, California?
Los Angeles 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 $80,472, about 17% lower than the California average of $96,718.
What is the current median household income in Los Angeles, California?
As of 2023, the median household income in Los Angeles, California is $80,472.
What was the median household income in Los Angeles in 2023?
In 2023, the median household income in Los Angeles, California was $80,472.
What was the median household income in Los Angeles in 2020?
In 2020, the median household income in Los Angeles, California was $65,695.
What is the Gini coefficient in Los Angeles, California?
The Gini coefficient in Los Angeles is 0.601. 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 Los Angeles, California?
Since 2009, the income gap between men and women in Los Angeles, California has widened from about 1% to 3% in 2023. In dollar terms, the gap has widened by $1,576 since 2009.