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 | Milpitas | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $181,274 | $96,718 | $78,145 |
| Median Personal Income | $112,900 | $68,943 | $61,726 |
| Average income growth | 7.8% | 6.0% | 5.1% |
| Six-Figure Earners | 32.2% | 16.9% | 13.2% |
The median household income in Milpitas is about 87% higher than in California. Income has been growing faster in Milpitas (7.8%/yr) than in California (6.0%/yr).
About 32% of adults in Milpitas 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 Milpitas, California grew by 95.6% from 2009 to 2023, reaching $181,274 in 2023. That's an average of about 7.8% per year.
Economic Inequality in Milpitas | Gender Pay Gap | Gini Coefficient
| Metric | Milpitas | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.575 | 0.596 | 0.570 |
| Male Median Income | $122,667 | $73,016 | $67,746 |
| Female Median Income | $92,270 | $63,704 | $54,793 |
| Gender Pay Gap | 24.8% | 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 Milpitas, it is 0.575, 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 33% more than women's income in Milpitas, California. Over a 35-year career, a 33% wage gap accumulates to roughly $1,063,895 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Milpitas, California has widened from about 23% to 25% in 2023. In dollar terms, the gap has widened by $15,758 since 2009.
Employment
| Metric | Milpitas | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.1% | 6.4% | 5.2% |
| Working from Home | 22.6% | 15.5% | 13.4% |
| Commute time (minutes) | 23 | 23 | 22 |
Approximately 1,770 people are unemployed in Milpitas, California.
The average commute time in Milpitas is 23 minutes, about the same as in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Milpitas, California has fallen from 7.4% to 4.1% in 2023.
Conclusion
Considering all these factors, Milpitas, California has an overall wealth index grade of A, making it notably better than California, and notably better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Milpitas, California.
How Rich Is Milpitas, California?
Milpitas 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 residents are much better off than the U.S. average. The median household income is $181,274, about 87% higher than the California average of $96,718.
What is the current median household income in Milpitas, California?
As of 2023, the median household income in Milpitas, California is $181,274.
What was the median household income in Milpitas in 2023?
In 2023, the median household income in Milpitas, California was $181,274.
What was the median household income in Milpitas in 2020?
In 2020, the median household income in Milpitas, California was $140,533.
What is the Gini coefficient in Milpitas, California?
The Gini coefficient in Milpitas is 0.575. 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 Milpitas, California?
Since 2009, the income gap between men and women in Milpitas, California has widened from about 23% to 25% in 2023. In dollar terms, the gap has widened by $15,758 since 2009.