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 | Placentia | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $105,411 | $96,718 | $78,145 |
| Median Personal Income | $70,131 | $68,943 | $61,726 |
| Average income growth | 4.1% | 6.0% | 5.1% |
| Six-Figure Earners | 17.4% | 16.9% | 13.2% |
The median household income in Placentia is about 9% higher than in California. Income has been growing slower in Placentia (4.1%/yr) than in California (6.0%/yr).
About 17% of adults in Placentia earn six figures ($100,000 or more) a year, higher than the California average of 17%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Placentia, California grew by 41.7% from 2009 to 2023, reaching $105,411 in 2023. That's an average of about 4.1% per year.
Economic Inequality in Placentia | Gender Pay Gap | Gini Coefficient
| Metric | Placentia | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.565 | 0.596 | 0.570 |
| Male Median Income | $74,203 | $73,016 | $67,746 |
| Female Median Income | $63,709 | $63,704 | $54,793 |
| Gender Pay Gap | 14.1% | 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 Placentia, it is 0.565, lower than California's 0.596, so income is more evenly distributed here than there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 16% more than women's income in Placentia, California. Over a 35-year career, a 16% wage gap accumulates to roughly $367,290 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Placentia, California has narrowed from about 19% to 14% in 2023. In dollar terms, the gap has widened by $388 since 2009.
Employment
| Metric | Placentia | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.3% | 6.4% | 5.2% |
| Working from Home | 14.2% | 15.5% | 13.4% |
| Commute time (minutes) | 25 | 23 | 22 |
Approximately 1,788 people are unemployed in Placentia, California.
The average commute time in Placentia is 25 minutes, longer than the 23 minutes in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Placentia, California has fallen from 9.0% to 6.3% in 2023.
Conclusion
Considering all these factors, Placentia, 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 Placentia, California.
How Rich Is Placentia, California?
Placentia 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 $105,411, about 9% higher than the California average of $96,718.
What is the current median household income in Placentia, California?
As of 2023, the median household income in Placentia, California is $105,411.
What was the median household income in Placentia in 2023?
In 2023, the median household income in Placentia, California was $105,411.
What was the median household income in Placentia in 2020?
In 2020, the median household income in Placentia, California was $97,530.
What is the Gini coefficient in Placentia, California?
The Gini coefficient in Placentia is 0.565. 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 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Placentia, California?
Since 2009, the income gap between men and women in Placentia, California has narrowed from about 19% to 14% in 2023. In dollar terms, the gap has widened by $388 since 2009.