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 | Santa Barbara | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $101,202 | $96,718 | $78,145 |
| Median Personal Income | $78,082 | $68,943 | $61,726 |
| Average income growth | 5.9% | 6.0% | 5.1% |
| Six-Figure Earners | 21.9% | 16.9% | 13.2% |
The median household income in Santa Barbara is about 5% higher than in California. Income has been growing slower in Santa Barbara (5.9%/yr) than in California (6.0%/yr).
About 22% of adults in Santa Barbara 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 Santa Barbara, California grew by 75.4% from 2009 to 2023, reaching $101,202 in 2023. That's an average of about 5.9% per year.
Economic Inequality in Santa Barbara | Gender Pay Gap | Gini Coefficient
| Metric | Santa Barbara | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.560 | 0.596 | 0.570 |
| Male Median Income | $80,260 | $73,016 | $67,746 |
| Female Median Income | $75,624 | $63,704 | $54,793 |
| Gender Pay Gap | 5.8% | 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 Santa Barbara, it is 0.560, 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 6% more than women's income in Santa Barbara, California. Over a 35-year career, a 6% wage gap accumulates to roughly $162,260 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Santa Barbara, California has narrowed from about 8% to 6% in 2023. In dollar terms, the gap has widened by $944 since 2009.
Employment
| Metric | Santa Barbara | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.8% | 6.4% | 5.2% |
| Working from Home | 17.0% | 15.5% | 13.4% |
| Commute time (minutes) | 15 | 23 | 22 |
Approximately 2,195 people are unemployed in Santa Barbara, California.
The average commute time in Santa Barbara is 15 minutes, shorter than the 23 minutes in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Santa Barbara, California has fallen from 6.5% to 4.8% in 2023.
Conclusion
Considering all these factors, Santa Barbara, 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 Santa Barbara, California.
How Rich Is Santa Barbara, California?
Santa Barbara 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 $101,202, about 5% higher than the California average of $96,718.
What is the current median household income in Santa Barbara, California?
As of 2023, the median household income in Santa Barbara, California is $101,202.
What was the median household income in Santa Barbara in 2023?
In 2023, the median household income in Santa Barbara, California was $101,202.
What was the median household income in Santa Barbara in 2020?
In 2020, the median household income in Santa Barbara, California was $81,398.
What is the Gini coefficient in Santa Barbara, California?
The Gini coefficient in Santa Barbara is 0.560. 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 Santa Barbara, California?
Since 2009, the income gap between men and women in Santa Barbara, California has narrowed from about 8% to 6% in 2023. In dollar terms, the gap has widened by $944 since 2009.