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 Mateo | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $152,156 | $96,718 | $78,145 |
| Median Personal Income | $112,908 | $68,943 | $61,726 |
| Average income growth | 6.8% | 6.0% | 5.1% |
| Six-Figure Earners | 34.2% | 16.9% | 13.2% |
The median household income in San Mateo is about 57% higher than in California. Income has been growing faster in San Mateo (6.8%/yr) than in California (6.0%/yr).
About 34% of adults in San Mateo 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 San Mateo, California grew by 82.0% from 2009 to 2023, reaching $152,156 in 2023. That's an average of about 6.8% per year.
Economic Inequality in San Mateo | Gender Pay Gap | Gini Coefficient
| Metric | San Mateo | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.534 | 0.596 | 0.570 |
| Male Median Income | $117,066 | $73,016 | $67,746 |
| Female Median Income | $106,446 | $63,704 | $54,793 |
| Gender Pay Gap | 9.1% | 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 San Mateo, it is 0.534, 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 10% more than women's income in San Mateo, California. Over a 35-year career, a 10% wage gap accumulates to roughly $371,700 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 Mateo, California has narrowed from about 16% to 9% in 2023. In dollar terms, the gap has widened by $34 since 2009.
Employment
| Metric | San Mateo | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.3% | 6.4% | 5.2% |
| Working from Home | 22.3% | 15.5% | 13.4% |
| Commute time (minutes) | 23 | 23 | 22 |
Approximately 2,514 people are unemployed in San Mateo, California.
The average commute time in San Mateo is 23 minutes, about the same as in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in San Mateo, California has fallen from 6.6% to 4.3% in 2023.
Conclusion
Considering all these factors, San Mateo, 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 San Mateo, California.
How Rich Is San Mateo, California?
San Mateo 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 $152,156, about 57% higher than the California average of $96,718.
What is the current median household income in San Mateo, California?
As of 2023, the median household income in San Mateo, California is $152,156.
What was the median household income in San Mateo in 2023?
In 2023, the median household income in San Mateo, California was $152,156.
What was the median household income in San Mateo in 2020?
In 2020, the median household income in San Mateo, California was $126,230.
What is the Gini coefficient in San Mateo, California?
The Gini coefficient in San Mateo is 0.534. 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 San Mateo, California?
Since 2009, the income gap between men and women in San Mateo, California has narrowed from about 16% to 9% in 2023. In dollar terms, the gap has widened by $34 since 2009.