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 | Pico Rivera | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $87,688 | $96,718 | $78,145 |
| Median Personal Income | $53,995 | $68,943 | $61,726 |
| Average income growth | 5.9% | 6.0% | 5.1% |
| Six-Figure Earners | 7.0% | 16.9% | 13.2% |
The median household income in Pico Rivera is about 9% lower than in California. Income has been growing slower in Pico Rivera (5.9%/yr) than in California (6.0%/yr).
About 7% of adults in Pico Rivera 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 Pico Rivera, California grew by 50.8% from 2009 to 2023, reaching $87,688 in 2023. That's an average of about 5.9% per year.
Economic Inequality in Pico Rivera | Gender Pay Gap | Gini Coefficient
| Metric | Pico Rivera | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.555 | 0.596 | 0.570 |
| Male Median Income | $57,812 | $73,016 | $67,746 |
| Female Median Income | $47,408 | $63,704 | $54,793 |
| Gender Pay Gap | 18.0% | 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 Pico Rivera, it is 0.555, 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 22% more than women's income in Pico Rivera, California. Over a 35-year career, a 22% wage gap accumulates to roughly $364,140 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Pico Rivera, California has widened from about 11% to 18% in 2023. In dollar terms, the gap has widened by $6,491 since 2009.
Employment
| Metric | Pico Rivera | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.0% | 6.4% | 5.2% |
| Working from Home | 8.6% | 15.5% | 13.4% |
| Commute time (minutes) | 30 | 23 | 22 |
Approximately 1,538 people are unemployed in Pico Rivera, California.
The average commute time in Pico Rivera is 30 minutes, longer than the 23 minutes in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Pico Rivera, California has fallen from 8.4% to 5.0% in 2023.
Conclusion
Considering all these factors, Pico Rivera, 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 Pico Rivera, California.
How Rich Is Pico Rivera, California?
Pico Rivera 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 $87,688, about 9% lower than the California average of $96,718.
What is the current median household income in Pico Rivera, California?
As of 2023, the median household income in Pico Rivera, California is $87,688.
What was the median household income in Pico Rivera in 2023?
In 2023, the median household income in Pico Rivera, California was $87,688.
What was the median household income in Pico Rivera in 2020?
In 2020, the median household income in Pico Rivera, California was $70,638.
What is the Gini coefficient in Pico Rivera, California?
The Gini coefficient in Pico Rivera is 0.555. 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 Pico Rivera, California?
Since 2009, the income gap between men and women in Pico Rivera, California has widened from about 11% to 18% in 2023. In dollar terms, the gap has widened by $6,491 since 2009.