Wealth Index
Wealthier than 74% of counties in California
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 | Nevada County | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $85,845 | $96,718 | $78,145 |
| Median Personal Income | $70,154 | $68,943 | $61,726 |
| Average income growth | 5.8% | 6.0% | 5.1% |
| Six-Figure Earners | 16.1% | 16.9% | 13.2% |
The median household income in Nevada County is about 11% lower than in California. Income has been growing slower in Nevada County (5.8%/yr) than in California (6.0%/yr).
About 16% of adults in Nevada County 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 Nevada County, California grew by 47.8% from 2009 to 2023, reaching $85,845 in 2023. That's an average of about 5.8% per year.
Economic Inequality in Nevada County | Gender Pay Gap | Gini Coefficient
| Metric | Nevada County | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.563 | 0.596 | 0.570 |
| Male Median Income | $75,753 | $73,016 | $67,746 |
| Female Median Income | $62,841 | $63,704 | $54,793 |
| Gender Pay Gap | 17.0% | 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 Nevada County, it is 0.563, 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 21% more than women's income in Nevada County, California. Over a 35-year career, a 21% wage gap accumulates to roughly $451,920 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Nevada County, California has narrowed from about 23% to 17% in 2023. In dollar terms, the gap has widened by $850 since 2009.
Employment
| Metric | Nevada County | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.7% | 6.4% | 5.2% |
| Working from Home | 22.1% | 15.5% | 13.4% |
| Commute time (minutes) | 17 | 23 | 22 |
Approximately 2,162 people are unemployed in Nevada County, California.
The average commute time in Nevada County is 17 minutes, shorter than the 23 minutes in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Nevada County, California has fallen from 9.2% to 4.7% in 2023.
Conclusion
Considering all these factors, Nevada County, California has an overall wealth index grade of B, making it somewhat better than California, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Nevada County, California.
How Rich Is Nevada County, California?
Nevada County has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $85,845, about 11% lower than the California average of $96,718.
What is the current median household income in Nevada County, California?
As of 2023, the median household income in Nevada County, California is $85,845.
What was the median household income in Nevada County in 2023?
In 2023, the median household income in Nevada County, California was $85,845.
What was the median household income in Nevada County in 2020?
In 2020, the median household income in Nevada County, California was $69,692.
What is the Gini coefficient in Nevada County, California?
The Gini coefficient in Nevada County is 0.563. 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 Nevada County, California?
Since 2009, the income gap between men and women in Nevada County, California has narrowed from about 23% to 17% in 2023. In dollar terms, the gap has widened by $850 since 2009.