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 Santa Margarita | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $140,187 | $96,718 | $78,145 |
| Median Personal Income | $93,657 | $68,943 | $61,726 |
| Average income growth | 5.2% | 6.0% | 5.1% |
| Six-Figure Earners | 28.0% | 16.9% | 13.2% |
The median household income in Rancho Santa Margarita is about 45% higher than in California. Income has been growing slower in Rancho Santa Margarita (5.2%/yr) than in California (6.0%/yr).
About 28% of adults in Rancho Santa Margarita 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 Rancho Santa Margarita, California grew by 48.1% from 2009 to 2023, reaching $140,187 in 2023. That's an average of about 5.2% per year.
Economic Inequality in Rancho Santa Margarita | Gender Pay Gap | Gini Coefficient
| Metric | Rancho Santa Margarita | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.542 | 0.596 | 0.570 |
| Male Median Income | $106,800 | $73,016 | $67,746 |
| Female Median Income | $81,570 | $63,704 | $54,793 |
| Gender Pay Gap | 23.6% | 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 Santa Margarita, it is 0.542, 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 31% more than women's income in Rancho Santa Margarita, California. Over a 35-year career, a 31% wage gap accumulates to roughly $883,050 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 Santa Margarita, California has narrowed from about 36% to 24% in 2023. In dollar terms, the gap has narrowed by $3,354 since 2009.
Employment
| Metric | Rancho Santa Margarita | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.9% | 6.4% | 5.2% |
| Working from Home | 21.4% | 15.5% | 13.4% |
| Commute time (minutes) | 26 | 23 | 22 |
Approximately 922 people are unemployed in Rancho Santa Margarita, California.
The average commute time in Rancho Santa Margarita is 26 minutes, longer than the 23 minutes in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Rancho Santa Margarita, California has fallen from 6.2% to 3.9% in 2023.
Conclusion
Considering all these factors, Rancho Santa Margarita, California has an overall wealth index grade of A+, making it far better than California, and far better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Rancho Santa Margarita, California.
How Rich Is Rancho Santa Margarita, California?
Rancho Santa Margarita has a wealth index grade of A+. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an A+ grade means it is one of the most prosperous areas in the country. The median household income is $140,187, about 45% higher than the California average of $96,718.
What is the current median household income in Rancho Santa Margarita, California?
As of 2023, the median household income in Rancho Santa Margarita, California is $140,187.
What was the median household income in Rancho Santa Margarita in 2023?
In 2023, the median household income in Rancho Santa Margarita, California was $140,187.
What was the median household income in Rancho Santa Margarita in 2020?
In 2020, the median household income in Rancho Santa Margarita, California was $118,968.
What is the Gini coefficient in Rancho Santa Margarita, California?
The Gini coefficient in Rancho Santa Margarita is 0.542. 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 Santa Margarita, California?
Since 2009, the income gap between men and women in Rancho Santa Margarita, California has narrowed from about 36% to 24% in 2023. In dollar terms, the gap has narrowed by $3,354 since 2009.