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 County | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $93,733 | $96,718 | $78,145 |
| Median Personal Income | $69,999 | $68,943 | $61,726 |
| Average income growth | 5.5% | 6.0% | 5.1% |
| Six-Figure Earners | 15.8% | 16.9% | 13.2% |
The median household income in San Luis Obispo County is about 3% lower than in California. Income has been growing slower in San Luis Obispo County (5.5%/yr) than in California (6.0%/yr).
About 16% of adults in San Luis Obispo County 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 County, California grew by 67.7% from 2009 to 2023, reaching $93,733 in 2023. That's an average of about 5.5% per year.
Economic Inequality in San Luis Obispo County | Gender Pay Gap | Gini Coefficient
| Metric | San Luis Obispo County | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.579 | 0.596 | 0.570 |
| Male Median Income | $77,196 | $73,016 | $67,746 |
| Female Median Income | $62,285 | $63,704 | $54,793 |
| Gender Pay Gap | 19.3% | 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 County, it is 0.579, lower than California's 0.596, so income is more 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 24% more than women's income in San Luis Obispo County, California. Over a 35-year career, a 24% wage gap accumulates to roughly $521,885 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 County, California has narrowed from about 30% to 19% in 2023. In dollar terms, the gap has narrowed by $1,266 since 2009.
Employment
| Metric | San Luis Obispo County | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.0% | 6.4% | 5.2% |
| Working from Home | 14.0% | 15.5% | 13.4% |
| Commute time (minutes) | 18 | 23 | 22 |
Approximately 7,005 people are unemployed in San Luis Obispo County, California.
The average commute time in San Luis Obispo County is 18 minutes, shorter than the 23 minutes in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in San Luis Obispo County, California has fallen from 8.1% to 5.0% in 2023.
Conclusion
Considering all these factors, San Luis Obispo County, 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 San Luis Obispo County, California.
How Rich Is San Luis Obispo County, California?
San Luis Obispo County 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 $93,733, about 3% lower than the California average of $96,718.
What is the current median household income in San Luis Obispo County, California?
As of 2023, the median household income in San Luis Obispo County, California is $93,733.
What was the median household income in San Luis Obispo County in 2023?
In 2023, the median household income in San Luis Obispo County, California was $93,733.
What was the median household income in San Luis Obispo County in 2020?
In 2020, the median household income in San Luis Obispo County, California was $78,204.
What is the Gini coefficient in San Luis Obispo County, California?
The Gini coefficient in San Luis Obispo County is 0.579. 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 County, California?
Since 2009, the income gap between men and women in San Luis Obispo County, California has narrowed from about 30% to 19% in 2023. In dollar terms, the gap has narrowed by $1,266 since 2009.