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 | San Luis Obispo | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $67,482 | $96,718 | $78,145 |
| Median Personal Income | $69,407 | $68,943 | $61,726 |
| Average income growth | 5.6% | 6.0% | 5.1% |
| Six-Figure Earners | 12.2% | 16.9% | 13.2% |
The median household income in San Luis Obispo is about 30% lower than in California. Income has been growing slower in San Luis Obispo (5.6%/yr) than in California (6.0%/yr).
About 12% of adults in San Luis Obispo 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 San Luis Obispo, California grew by 79.6% from 2009 to 2023, reaching $67,482 in 2023. That's an average of about 5.6% per year.
Economic Inequality in San Luis Obispo | Gender Pay Gap | Gini Coefficient
| Metric | San Luis Obispo | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.603 | 0.596 | 0.570 |
| Male Median Income | $77,714 | $73,016 | $67,746 |
| Female Median Income | $63,597 | $63,704 | $54,793 |
| Gender Pay Gap | 18.2% | 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 San Luis Obispo, it is 0.603, higher than California's 0.596, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 22% more than women's income in San Luis Obispo, California. Over a 35-year career, a 22% wage gap accumulates to roughly $494,095 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in San Luis Obispo, California has narrowed from about 19% to 18% in 2023. In dollar terms, the gap has widened by $5,576 since 2009.
Employment
| Metric | San Luis Obispo | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.7% | 6.4% | 5.2% |
| Working from Home | 16.3% | 15.5% | 13.4% |
| Commute time (minutes) | 12 | 23 | 22 |
Approximately 1,178 people are unemployed in San Luis Obispo, California.
The average commute time in San Luis Obispo is 12 minutes, shorter than the 23 minutes in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in San Luis Obispo, California has fallen from 8.6% to 6.7% in 2023.
Conclusion
Considering all these factors, San Luis Obispo, California has an overall wealth index grade of C, making it somewhat worse than California, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in San Luis Obispo, California.
How Rich Is San Luis Obispo, California?
San Luis Obispo 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 $67,482, about 30% lower than the California average of $96,718.
What is the current median household income in San Luis Obispo, California?
As of 2023, the median household income in San Luis Obispo, California is $67,482.
What was the median household income in San Luis Obispo in 2023?
In 2023, the median household income in San Luis Obispo, California was $67,482.
What was the median household income in San Luis Obispo in 2020?
In 2020, the median household income in San Luis Obispo, California was $58,569.
What is the Gini coefficient in San Luis Obispo, California?
The Gini coefficient in San Luis Obispo is 0.603. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in San Luis Obispo, California?
Since 2009, the income gap between men and women in San Luis Obispo, California has narrowed from about 19% to 18% in 2023. In dollar terms, the gap has widened by $5,576 since 2009.