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 Cruz | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $109,339 | $96,718 | $78,145 |
| Median Personal Income | $86,526 | $68,943 | $61,726 |
| Average income growth | 8.6% | 6.0% | 5.1% |
| Six-Figure Earners | 18.6% | 16.9% | 13.2% |
The median household income in Santa Cruz is about 13% higher than in California. Income has been growing faster in Santa Cruz (8.6%/yr) than in California (6.0%/yr).
About 19% of adults in Santa Cruz 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 Cruz, California grew by 98.2% from 2009 to 2023, reaching $109,339 in 2023. That's an average of about 8.6% per year.
Economic Inequality in Santa Cruz | Gender Pay Gap | Gini Coefficient
| Metric | Santa Cruz | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.647 | 0.596 | 0.570 |
| Male Median Income | $101,323 | $73,016 | $67,746 |
| Female Median Income | $69,563 | $63,704 | $54,793 |
| Gender Pay Gap | 31.3% | 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 Santa Cruz, it is 0.647, 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 46% more than women's income in Santa Cruz, California. Over a 35-year career, a 46% wage gap accumulates to roughly $1,111,600 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 Cruz, California has widened from about 22% to 31% in 2023. In dollar terms, the gap has widened by $17,996 since 2009.
Employment
| Metric | Santa Cruz | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.2% | 6.4% | 5.2% |
| Working from Home | 19.3% | 15.5% | 13.4% |
| Commute time (minutes) | 16 | 23 | 22 |
Approximately 1,979 people are unemployed in Santa Cruz, California.
The average commute time in Santa Cruz is 16 minutes, shorter than the 23 minutes in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Santa Cruz, California has fallen from 7.6% to 6.2% in 2023.
Conclusion
Considering all these factors, Santa Cruz, California has an overall wealth index grade of C, making it about on par with California, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Santa Cruz, California.
How Rich Is Santa Cruz, California?
Santa Cruz 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 $109,339, about 13% higher than the California average of $96,718.
What is the current median household income in Santa Cruz, California?
As of 2023, the median household income in Santa Cruz, California is $109,339.
What was the median household income in Santa Cruz in 2023?
In 2023, the median household income in Santa Cruz, California was $109,339.
What was the median household income in Santa Cruz in 2020?
In 2020, the median household income in Santa Cruz, California was $86,189.
What is the Gini coefficient in Santa Cruz, California?
The Gini coefficient in Santa Cruz is 0.647. 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 Santa Cruz, California?
Since 2009, the income gap between men and women in Santa Cruz, California has widened from about 22% to 31% in 2023. In dollar terms, the gap has widened by $17,996 since 2009.