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 | West Rancho Dominguez | California Avg | US Average |
|---|---|---|---|
| Median Household Income | $82,450 | $96,718 | $78,145 |
| Median Personal Income | $50,708 | $68,943 | $61,726 |
| Average income growth | 7.2% | 6.0% | 5.1% |
| Six-Figure Earners | 8.7% | 16.9% | 13.2% |
The median household income in West Rancho Dominguez is about 15% lower than in California. Income has been growing faster in West Rancho Dominguez (7.2%/yr) than in California (6.0%/yr).
About 9% of adults in West Rancho Dominguez 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 West Rancho Dominguez, California grew by 95.3% from 2009 to 2023, reaching $82,450 in 2023. That's an average of about 7.2% per year.
Economic Inequality in West Rancho Dominguez | Gender Pay Gap | Gini Coefficient
| Metric | West Rancho Dominguez | California Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.588 | 0.596 | 0.570 |
| Male Median Income | $57,066 | $73,016 | $67,746 |
| Female Median Income | $47,604 | $63,704 | $54,793 |
| Gender Pay Gap | 16.6% | 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 West Rancho Dominguez, it is 0.588, 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 20% more than women's income in West Rancho Dominguez, California. Over a 35-year career, a 20% wage gap accumulates to roughly $331,170 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in West Rancho Dominguez, California has narrowed from about -17% to 17% in 2023. In dollar terms, the gap has widened by $14,614 since 2009.
Employment
| Metric | West Rancho Dominguez | California Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 9.4% | 6.4% | 5.2% |
| Working from Home | 9.0% | 15.5% | 13.4% |
| Commute time (minutes) | 30 | 23 | 22 |
Approximately 1,042 people are unemployed in West Rancho Dominguez, California.
The average commute time in West Rancho Dominguez is 30 minutes, longer than the 23 minutes in California.
Unemployment Rate Over Time
Since 2011, the unemployment rate in West Rancho Dominguez, California has fallen from 16.2% to 9.4% in 2023.
Conclusion
Considering all these factors, West Rancho Dominguez, California has an overall wealth index grade of D, making it somewhat worse than California, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in West Rancho Dominguez, California.
How Rich Is West Rancho Dominguez, California?
West Rancho Dominguez has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $82,450, about 15% lower than the California average of $96,718.
What is the current median household income in West Rancho Dominguez, California?
As of 2023, the median household income in West Rancho Dominguez, California is $82,450.
What was the median household income in West Rancho Dominguez in 2023?
In 2023, the median household income in West Rancho Dominguez, California was $82,450.
What was the median household income in West Rancho Dominguez in 2020?
In 2020, the median household income in West Rancho Dominguez, California was $68,538.
What is the Gini coefficient in West Rancho Dominguez, California?
The Gini coefficient in West Rancho Dominguez is 0.588. 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 West Rancho Dominguez, California?
Since 2009, the income gap between men and women in West Rancho Dominguez, California has narrowed from about -17% to 17% in 2023. In dollar terms, the gap has widened by $14,614 since 2009.