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 | Montebello | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $73,938 | $96,718 | $78,145 |
| Median Personal Income | $49,954 | $68,943 | $61,726 |
| Average income growth | 6.7% | 6.0% | 5.1% |
| Six-Figure Earners | 7.7% | 16.9% | 13.2% |
The median household income in Montebello is about 24% lower than in California. Income has been growing faster in Montebello (6.7%/yr) than in California (6.0%/yr).
About 8% of adults in Montebello 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 Montebello, California grew by 45.8% from 2009 to 2023, reaching $73,938 in 2023. That's an average of about 6.7% per year.
Economic Inequality in Montebello | Gender Pay Gap | Gini Coefficient
| Metric | Montebello | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.564 | 0.596 | 0.570 |
| Male Median Income | $50,067 | $73,016 | $67,746 |
| Female Median Income | $49,803 | $63,704 | $54,793 |
| Gender Pay Gap | 0.5% | 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 Montebello, it is 0.564, 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 1% more than women's income in Montebello, California.
Income by Sex Over Time
Since 2009, the income gap between men and women in Montebello, California has narrowed from about 12% to 1% in 2023. In dollar terms, the gap has narrowed by $4,167 since 2009.
Employment
| Metric | Montebello | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.9% | 6.4% | 5.2% |
| Working from Home | 8.9% | 15.5% | 13.4% |
| Commute time (minutes) | 28 | 23 | 22 |
Approximately 2,209 people are unemployed in Montebello, California.
The average commute time in Montebello is 28 minutes, longer than the 23 minutes in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Montebello, California has fallen from 9.2% to 6.9% in 2023.
Conclusion
Considering all these factors, Montebello, California has an overall wealth index grade of D, making it somewhat worse than California, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Montebello, California.
How Rich Is Montebello, California?
Montebello has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $73,938, about 24% lower than the California average of $96,718.
What is the current median household income in Montebello, California?
As of 2023, the median household income in Montebello, California is $73,938.
What was the median household income in Montebello in 2023?
In 2023, the median household income in Montebello, California was $73,938.
What was the median household income in Montebello in 2020?
In 2020, the median household income in Montebello, California was $63,510.
What is the Gini coefficient in Montebello, California?
The Gini coefficient in Montebello is 0.564. 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 Montebello, California?
Since 2009, the income gap between men and women in Montebello, California has narrowed from about 12% to 1% in 2023. In dollar terms, the gap has narrowed by $4,167 since 2009.