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 | Rancho Cordova | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $90,374 | $96,718 | $78,145 |
| Median Personal Income | $64,607 | $68,943 | $61,726 |
| Average income growth | 7.5% | 6.0% | 5.1% |
| Six-Figure Earners | 13.5% | 16.9% | 13.2% |
The median household income in Rancho Cordova is about 7% lower than in California. Income has been growing faster in Rancho Cordova (7.5%/yr) than in California (6.0%/yr).
About 14% of adults in Rancho Cordova 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 Rancho Cordova, California grew by 73.7% from 2009 to 2023, reaching $90,374 in 2023. That's an average of about 7.5% per year.
Economic Inequality in Rancho Cordova | Gender Pay Gap | Gini Coefficient
| Metric | Rancho Cordova | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.557 | 0.596 | 0.570 |
| Male Median Income | $66,981 | $73,016 | $67,746 |
| Female Median Income | $62,553 | $63,704 | $54,793 |
| Gender Pay Gap | 6.6% | 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 Rancho Cordova, it is 0.557, 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 7% more than women's income in Rancho Cordova, California. Over a 35-year career, a 7% wage gap accumulates to roughly $154,980 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Rancho Cordova, California has narrowed from about 16% to 7% in 2023. In dollar terms, the gap has narrowed by $3,331 since 2009.
Employment
| Metric | Rancho Cordova | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.5% | 6.4% | 5.2% |
| Working from Home | 18.4% | 15.5% | 13.4% |
| Commute time (minutes) | 23 | 23 | 22 |
Approximately 2,564 people are unemployed in Rancho Cordova, California.
The average commute time in Rancho Cordova is 23 minutes, about the same as in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Rancho Cordova, California has fallen from 13.5% to 6.5% in 2023.
Conclusion
Considering all these factors, Rancho Cordova, California has an overall wealth index grade of C, making it about on par with California, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Rancho Cordova, California.
How Rich Is Rancho Cordova, California?
Rancho Cordova has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $90,374, about 7% lower than the California average of $96,718.
What is the current median household income in Rancho Cordova, California?
As of 2023, the median household income in Rancho Cordova, California is $90,374.
What was the median household income in Rancho Cordova in 2023?
In 2023, the median household income in Rancho Cordova, California was $90,374.
What was the median household income in Rancho Cordova in 2020?
In 2020, the median household income in Rancho Cordova, California was $71,174.
What is the Gini coefficient in Rancho Cordova, California?
The Gini coefficient in Rancho Cordova is 0.557. 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 Rancho Cordova, California?
Since 2009, the income gap between men and women in Rancho Cordova, California has narrowed from about 16% to 7% in 2023. In dollar terms, the gap has narrowed by $3,331 since 2009.