Santa Monica, California Income Statistics
Santa Monica Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
-
A
Santa Monica Above average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Santa Monica | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $116,065 | $99,161 | $80,455 |
| Median Personal Income | $112,104 | $67,742 | $60,758 |
| Average Yearly Income Growth | 4.4% | 5.6% | 4.8% |
| Six-Figure Earners | 34.7% | 17.6% | 13.9% |
| $200k+ Households | 29.5% | 20.5% | 13.2% |
The median household income in Santa Monica is about 17% higher than in California. Income has been growing slower in Santa Monica (4.4%/yr) than in California (5.6%/yr).
About 35% of adults in Santa Monica earn six figures ($100,000 or more) a year, higher than the California average of 18%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Santa Monica, California grew by 68.3% from 2009 to 2024, reaching $116,065 in 2024. That's an average of about 4.4% per year.
Income Inequality and the Gender Pay Gap in Santa Monica
| Metric | Santa Monica | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.500 | 0.572 | 0.552 |
| Male Median Income | $121,040 | $75,172 | $69,667 |
| Female Median Income | $103,447 | $66,071 | $56,850 |
| Gender Pay Gap | 14.5% | 12.1% | 18.4% |
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 Monica, it is 0.500, lower than California's 0.572, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 17% more than women's income in Santa Monica, California. Over a 35-year career, a 17% wage gap accumulates to roughly $615,755 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 Monica, California has narrowed from about 24% to 15% in 2024. Over that period the gap was widest at 25% in 2015. In dollar terms, the gap has narrowed by $687 since 2009.
Employment
| Metric | Santa Monica | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.7% | 6.6% | 5.2% |
| Working from Home | 38.4% | 17.2% | 15.0% |
| Commute time (minutes) | 22 | 23 | 22 |
Approximately 3,684 people are unemployed in Santa Monica, California.
The average commute time in Santa Monica is 22 minutes, shorter than the 23 minutes in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Santa Monica, California has fallen from 7.9% to 6.7% in 2024. Over that period the rate peaked at 9.8% in 2013 and fell as low as 5.4% in 2019.
Santa Monica, CA Wealth Compared With Nearby Cities
How Santa Monica, CA compares with the 2 cities closest to it.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Santa Monica, CA | 91,091 | $116,065 #3/3 | 4.4%/yr #2/3 | 6.7% #2/3 | 0.500 #1/3 |
| Culver City, CA | 39,823 | $119,446 | 4.6%/yr | 6.6% | 0.506 |
| Beverly Hills, CA | 31,624 | $130,286 | 3.4%/yr | 8.3% | 0.530 |
Conclusion
Considering all these factors, Santa Monica, California has an overall wealth index grade of A, making it notably better than California, and notably better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Santa Monica, California.
How Rich Is Santa Monica, California?
Santa Monica 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 residents are much better off than the U.S. average. The median household income is $116,065, about 17% higher than the California average of $99,161.
Are incomes growing in Santa Monica, California?
Between 2009 and 2024, the median household income in Santa Monica, California rose 68%, from $68,964 to $116,065. Over the same years, income here outpaced California as a whole: +68% against +64%.
What was the median household income in Santa Monica in 2023?
In 2023, the median household income in Santa Monica, California was $112,452, up 5% from $107,228 in 2022. The California median that year was $96,718.
What was the median household income in Santa Monica in 2020?
In 2020, the median household income in Santa Monica, California was $97,998. By 2024 it had risen 18% to $116,065.
Is Santa Monica, California a high-income area?
Yes. 35% of adults in Santa Monica, California earn $100,000 or more a year (about 1 in 3), against 18% (about 1 in 6) in California. 29% of households have a combined income of $200,000 or more, compared with 20% in California.
What is the Gini coefficient in Santa Monica, California?
The Gini coefficient in Santa Monica is 0.500. 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 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Santa Monica, California?
Since 2009, the income gap between men and women in Santa Monica, California has narrowed from about 24% to 15% in 2024. Over that period the gap was widest at 25% in 2015. In dollar terms, the gap has narrowed by $687 since 2009.
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