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 | Maywood | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $62,390 | $96,718 | $78,145 |
| Median Personal Income | $36,972 | $68,943 | $61,726 |
| Average income growth | 7.8% | 6.0% | 5.1% |
| Six-Figure Earners | 1.9% | 16.9% | 13.2% |
The median household income in Maywood is about 35% lower than in California. Income has been growing faster in Maywood (7.8%/yr) than in California (6.0%/yr).
About 2% of adults in Maywood 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 Maywood, California grew by 65.4% from 2009 to 2023, reaching $62,390 in 2023. That's an average of about 7.8% per year.
Economic Inequality in Maywood | Gender Pay Gap | Gini Coefficient
| Metric | Maywood | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.558 | 0.596 | 0.570 |
| Male Median Income | $39,043 | $73,016 | $67,746 |
| Female Median Income | $33,676 | $63,704 | $54,793 |
| Gender Pay Gap | 13.7% | 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 Maywood, it is 0.558, 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 16% more than women's income in Maywood, California. Over a 35-year career, a 16% wage gap accumulates to roughly $187,845 in unearned income for female workers in the area.
Income by Sex Over Time
The income gap between men and women in Maywood, California has stayed about the same since 2009, at around 14%. In dollar terms, the gap has widened by $1,819 since 2009.
Employment
| Metric | Maywood | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.4% | 6.4% | 5.2% |
| Working from Home | 4.5% | 15.5% | 13.4% |
| Commute time (minutes) | 28 | 23 | 22 |
Approximately 748 people are unemployed in Maywood, California.
The average commute time in Maywood is 28 minutes, longer than the 23 minutes in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Maywood, California has fallen from 12.1% to 6.4% in 2023.
Conclusion
Considering all these factors, Maywood, California has an overall wealth index grade of F, making it worse than California, and worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Maywood, California.
How Rich Is Maywood, California?
Maywood has a wealth index grade of F. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an F grade means residents are well below the U.S. average. The median household income is $62,390, about 35% lower than the California average of $96,718.
What is the current median household income in Maywood, California?
As of 2023, the median household income in Maywood, California is $62,390.
What was the median household income in Maywood in 2023?
In 2023, the median household income in Maywood, California was $62,390.
What was the median household income in Maywood in 2020?
In 2020, the median household income in Maywood, California was $51,172.
What is the Gini coefficient in Maywood, California?
The Gini coefficient in Maywood is 0.558. 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 Maywood, California?
The income gap between men and women in Maywood, California has stayed about the same since 2009, at around 14%. In dollar terms, the gap has widened by $1,819 since 2009.