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 | Orcutt | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $102,706 | $96,718 | $78,145 |
| Median Personal Income | $76,972 | $68,943 | $61,726 |
| Average income growth | 4.1% | 6.0% | 5.1% |
| Six-Figure Earners | 15.3% | 16.9% | 13.2% |
The median household income in Orcutt is about 6% higher than in California. Income has been growing slower in Orcutt (4.1%/yr) than in California (6.0%/yr).
About 15% of adults in Orcutt 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 Orcutt, California grew by 52.3% from 2009 to 2023, reaching $102,706 in 2023. That's an average of about 4.1% per year.
Economic Inequality in Orcutt | Gender Pay Gap | Gini Coefficient
| Metric | Orcutt | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.554 | 0.596 | 0.570 |
| Male Median Income | $83,398 | $73,016 | $67,746 |
| Female Median Income | $68,728 | $63,704 | $54,793 |
| Gender Pay Gap | 17.6% | 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 Orcutt, it is 0.554, 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 Orcutt, California. Over a 35-year career, a 21% wage gap accumulates to roughly $513,450 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Orcutt, California has narrowed from about 29% to 18% in 2023. In dollar terms, the gap has narrowed by $2,571 since 2009.
Employment
| Metric | Orcutt | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.8% | 6.4% | 5.2% |
| Working from Home | 8.4% | 15.5% | 13.4% |
| Commute time (minutes) | 17 | 23 | 22 |
Approximately 445 people are unemployed in Orcutt, California.
The average commute time in Orcutt is 17 minutes, shorter than the 23 minutes in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Orcutt, California has fallen from 7.9% to 3.8% in 2023.
Conclusion
Considering all these factors, Orcutt, 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 Orcutt, California.
How Wealthy Is Orcutt, California?
Orcutt 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 $102,706, about 6% higher than the California average of $96,718.
What is the current median household income in Orcutt, California?
As of 2023, the median household income in Orcutt, California is $102,706.
What was the median household income in Orcutt in 2023?
In 2023, the median household income in Orcutt, California was $102,706.
What was the median household income in Orcutt in 2020?
In 2020, the median household income in Orcutt, California was $93,303.
What is the Gini coefficient in Orcutt, California?
The Gini coefficient in Orcutt is 0.554. 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 Orcutt, California?
Since 2009, the income gap between men and women in Orcutt, California has narrowed from about 29% to 18% in 2023. In dollar terms, the gap has narrowed by $2,571 since 2009.