Paramount, California Income Statistics
Paramount Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
-
D
Paramount Well below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Paramount | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $75,129 | $99,161 | $80,455 |
| Median Personal Income | $43,914 | $67,742 | $60,758 |
| Average Yearly Income Growth | 6.2% | 5.6% | 4.8% |
| Six-Figure Earners | 3.9% | 17.6% | 13.9% |
| $200k+ Households | 5.9% | 20.5% | 13.2% |
The median household income in Paramount is about 24% lower than in California. Income has been growing faster in Paramount (6.2%/yr) than in California (5.6%/yr).
About 4% of adults in Paramount earn six figures ($100,000 or more) a year, lower than the California average of 18%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Paramount, California grew by 74.3% from 2009 to 2024, reaching $75,129 in 2024. That's an average of about 6.2% per year.
Income Inequality and the Gender Pay Gap in Paramount
| Metric | Paramount | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.556 | 0.572 | 0.552 |
| Male Median Income | $49,788 | $75,172 | $69,667 |
| Female Median Income | $46,194 | $66,071 | $56,850 |
| Gender Pay Gap | 7.2% | 12.1% | 18.4% |
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 Paramount, it is 0.556, lower than California's 0.572, so income is more evenly distributed here than there, and about the same as the US's 0.552, so income here is about as evenly distributed as there.
Men's income is about 8% more than women's income in Paramount, California. Over a 35-year career, a 8% wage gap accumulates to roughly $125,790 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Paramount, California has widened from about 3% to 7% in 2024. Over that period the gap was widest at 12% in 2021, and in 2015 women out-earned men by 5%. In dollar terms, the gap has widened by $2,612 since 2009.
Sharply against the trend: the pay gap in Paramount widened by 3.9 points while California's narrowed by 4.3 points.
Employment
| Metric | Paramount | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.7% | 6.6% | 5.2% |
| Working from Home | 7.3% | 17.2% | 15.0% |
| Commute time (minutes) | 25 | 23 | 22 |
Approximately 1,530 people are unemployed in Paramount, California.
The average commute time in Paramount is 25 minutes, longer than the 23 minutes in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Paramount, California has fallen from 11.3% to 5.7% in 2024. Over that period the rate peaked at 13.3% in 2013 and fell as low as 5.0% in 2021.
Paramount, CA Wealth Compared With Nearby Cities
Paramount, CA is the smallest of the 5 cities compared here, 51,757 residents against a local median of 83,732. The measure that sets Paramount, CA apart most is unemployment: 5.7%, 24% below the local median of 7.5%. That is the better end of the local range on this measure.
The cities themselves spread 3.9% on unemployment, so Paramount, CA sits at one end of an already wide local range rather than apart from it. Paramount, CA has the lowest unemployment of the 5 areas compared here.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Paramount, CA | 51,757 | $75,129 #3/5 | 6.2%/yr #3/5 | 5.7% #1/5 | 0.556 #1/5 |
| Bellflower, CA | 76,778 | $78,927 | 5.7%/yr | 7.6% | 0.563 |
| Lynwood, CA | 62,939 | $74,926 | 6.7%/yr | 9.7% | 0.573 |
| Downey, CA | 112,177 | $92,056 | 4.5%/yr | 5.8% | 0.566 |
| South Gate, CA | 90,685 | $74,287 | 6.3%/yr | 7.5% | 0.558 |
Conclusion
Considering all these factors, Paramount, 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 Paramount, California.
How Rich Is Paramount, California?
Paramount 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 $75,129, about 24% lower than the California average of $99,161.
How has median household income changed in Paramount, California?
Between 2009 and 2024, the median household income in Paramount, California rose 74%, from $43,100 to $75,129. Over the same years, income here outpaced California as a whole: +74% against +64%.
What was the median household income in Paramount in 2023?
In 2023, the median household income in Paramount, California was $70,949, up 4% from $68,024 in 2022. The California median that year was $96,718.
What was the median household income in Paramount in 2020?
In 2020, the median household income in Paramount, California was $58,160. By 2024 it had risen 29% to $75,129.
What is the Gini coefficient in Paramount, California?
The Gini coefficient in Paramount is 0.556. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.552, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Paramount, California?
Since 2009, the income gap between men and women in Paramount, California has widened from about 3% to 7% in 2024. Over that period the gap was widest at 12% in 2021, and in 2015 women out-earned men by 5%. In dollar terms, the gap has widened by $2,612 since 2009.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →