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 | Menlo Park | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $198,773 | $96,718 | $78,145 |
| Median Personal Income | $112,308 | $68,943 | $61,726 |
| Average income growth | 8.3% | 6.0% | 5.1% |
| Six-Figure Earners | 34.8% | 16.9% | 13.2% |
The median household income in Menlo Park is about 106% higher than in California. Income has been growing faster in Menlo Park (8.3%/yr) than in California (6.0%/yr).
About 35% of adults in Menlo Park 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 Menlo Park, California grew by 111.7% from 2009 to 2023, reaching $198,773 in 2023. That's an average of about 8.3% per year.
Economic Inequality in Menlo Park | Gender Pay Gap | Gini Coefficient
| Metric | Menlo Park | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.562 | 0.596 | 0.570 |
| Male Median Income | $120,688 | $73,016 | $67,746 |
| Female Median Income | $96,875 | $63,704 | $54,793 |
| Gender Pay Gap | 19.7% | 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 Menlo Park, it is 0.562, 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 25% more than women's income in Menlo Park, California. Over a 35-year career, a 25% wage gap accumulates to roughly $833,455 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Menlo Park, California has widened from about 18% to 20% in 2023. In dollar terms, the gap has widened by $9,232 since 2009.
Employment
| Metric | Menlo Park | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.4% | 6.4% | 5.2% |
| Working from Home | 27.6% | 15.5% | 13.4% |
| Commute time (minutes) | 22 | 23 | 22 |
Approximately 844 people are unemployed in Menlo Park, California.
The average commute time in Menlo Park is 22 minutes, shorter than the 23 minutes in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Menlo Park, California has fallen from 7.1% to 4.4% in 2023.
Conclusion
Considering all these factors, Menlo Park, California has an overall wealth index grade of A+, making it far better than California, and far better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Menlo Park, California.
How Rich Is Menlo Park, California?
Menlo Park 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 it is one of the most prosperous areas in the country. The median household income is $198,773, about 106% higher than the California average of $96,718.
What is the current median household income in Menlo Park, California?
As of 2023, the median household income in Menlo Park, California is $198,773.
What was the median household income in Menlo Park in 2023?
In 2023, the median household income in Menlo Park, California was $198,773.
What was the median household income in Menlo Park in 2020?
In 2020, the median household income in Menlo Park, California was $151,667.
What is the Gini coefficient in Menlo Park, California?
The Gini coefficient in Menlo Park is 0.562. 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 Menlo Park, California?
Since 2009, the income gap between men and women in Menlo Park, California has widened from about 18% to 20% in 2023. In dollar terms, the gap has widened by $9,232 since 2009.