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 Banos | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $70,749 | $96,718 | $78,145 |
| Median Personal Income | $54,075 | $68,943 | $61,726 |
| Average income growth | 7.5% | 6.0% | 5.1% |
| Six-Figure Earners | 8.8% | 16.9% | 13.2% |
The median household income in Los Banos is about 27% lower than in California. Income has been growing faster in Los Banos (7.5%/yr) than in California (6.0%/yr).
About 9% of adults in Los Banos 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 Banos, California grew by 39.7% from 2009 to 2023, reaching $70,749 in 2023. That's an average of about 7.5% per year.
Economic Inequality in Los Banos | Gender Pay Gap | Gini Coefficient
| Metric | Los Banos | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.590 | 0.596 | 0.570 |
| Male Median Income | $61,037 | $73,016 | $67,746 |
| Female Median Income | $39,668 | $63,704 | $54,793 |
| Gender Pay Gap | 35.0% | 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 Banos, it is 0.590, 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 54% more than women's income in Los Banos, California. Over a 35-year career, a 54% wage gap accumulates to roughly $747,915 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 Banos, California has widened from about 33% to 35% in 2023. In dollar terms, the gap has widened by $5,952 since 2009.
Employment
| Metric | Los Banos | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 8.1% | 6.4% | 5.2% |
| Working from Home | 7.0% | 15.5% | 13.4% |
| Commute time (minutes) | 50 | 23 | 22 |
Approximately 1,056 people are unemployed in Los Banos, California.
The average commute time in Los Banos is 50 minutes, longer than the 23 minutes in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Los Banos, California has fallen from 16.9% to 8.1% in 2023.
Conclusion
Considering all these factors, Los Banos, 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 Banos, California.
How Rich Is Los Banos, California?
Los Banos 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 $70,749, about 27% lower than the California average of $96,718.
What is the current median household income in Los Banos, California?
As of 2023, the median household income in Los Banos, California is $70,749.
What was the median household income in Los Banos in 2023?
In 2023, the median household income in Los Banos, California was $70,749.
What was the median household income in Los Banos in 2020?
In 2020, the median household income in Los Banos, California was $65,975.
What is the Gini coefficient in Los Banos, California?
The Gini coefficient in Los Banos is 0.590. 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 Banos, California?
Since 2009, the income gap between men and women in Los Banos, California has widened from about 33% to 35% in 2023. In dollar terms, the gap has widened by $5,952 since 2009.