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 | Norco | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $124,880 | $96,718 | $78,145 |
| Median Personal Income | $73,527 | $68,943 | $61,726 |
| Average income growth | 5.0% | 6.0% | 5.1% |
| Six-Figure Earners | 15.2% | 16.9% | 13.2% |
The median household income in Norco is about 29% higher than in California. Income has been growing slower in Norco (5.0%/yr) than in California (6.0%/yr).
About 15% of adults in Norco 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 Norco, California grew by 55.1% from 2009 to 2023, reaching $124,880 in 2023. That's an average of about 5.0% per year.
Economic Inequality in Norco | Gender Pay Gap | Gini Coefficient
| Metric | Norco | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.626 | 0.596 | 0.570 |
| Male Median Income | $81,427 | $73,016 | $67,746 |
| Female Median Income | $58,582 | $63,704 | $54,793 |
| Gender Pay Gap | 28.1% | 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 Norco, it is 0.626, higher than California's 0.596, so income is less 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 39% more than women's income in Norco, California. Over a 35-year career, a 39% wage gap accumulates to roughly $799,575 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Norco, California has narrowed from about 33% to 28% in 2023. In dollar terms, the gap has widened by $2,746 since 2009.
Employment
| Metric | Norco | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.3% | 6.4% | 5.2% |
| Working from Home | 12.2% | 15.5% | 13.4% |
| Commute time (minutes) | 31 | 23 | 22 |
Approximately 492 people are unemployed in Norco, California.
The average commute time in Norco is 31 minutes, longer than the 23 minutes in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Norco, California has fallen from 8.8% to 4.3% in 2023.
Conclusion
Considering all these factors, Norco, 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 Norco, California.
How Rich Is Norco, California?
Norco 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 $124,880, about 29% higher than the California average of $96,718.
What is the current median household income in Norco, California?
As of 2023, the median household income in Norco, California is $124,880.
What was the median household income in Norco in 2023?
In 2023, the median household income in Norco, California was $124,880.
What was the median household income in Norco in 2020?
In 2020, the median household income in Norco, California was $106,879.
What is the Gini coefficient in Norco, California?
The Gini coefficient in Norco is 0.626. 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 Norco, California?
Since 2009, the income gap between men and women in Norco, California has narrowed from about 33% to 28% in 2023. In dollar terms, the gap has widened by $2,746 since 2009.