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 | Bridgeport | Connecticut Avg | US Average |
|---|---|---|---|
| Median Household Income | $56,892 | $95,363 | $78,145 |
| Median Personal Income | $51,952 | $76,086 | $61,726 |
| Average income growth | 3.8% | 4.1% | 5.1% |
| Six-Figure Earners | 6.6% | 18.1% | 13.2% |
The median household income in Bridgeport is about 40% lower than in Connecticut. Income has been growing slower in Bridgeport (3.8%/yr) than in Connecticut (4.1%/yr).
About 7% of adults in Bridgeport earn six figures ($100,000 or more) a year, lower than the Connecticut average of 18%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Bridgeport, Connecticut grew by 40.5% from 2009 to 2023, reaching $56,892 in 2023. That's an average of about 3.8% per year.
Economic Inequality in Bridgeport | Gender Pay Gap | Gini Coefficient
| Metric | Bridgeport | Connecticut Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.573 | 0.555 | 0.570 |
| Male Median Income | $53,992 | $83,962 | $67,746 |
| Female Median Income | $49,301 | $68,602 | $54,793 |
| Gender Pay Gap | 8.7% | 18.3% | 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 Bridgeport, it is 0.573, higher than Connecticut's 0.555, so income is less evenly distributed here than there, and about the same as the US's 0.570, so income here is about as evenly distributed as there.
Men's income is about 10% more than women's income in Bridgeport, Connecticut. Over a 35-year career, a 10% wage gap accumulates to roughly $164,185 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Bridgeport, Connecticut has narrowed from about 13% to 9% in 2023. In dollar terms, the gap has narrowed by $466 since 2009.
Employment
| Metric | Bridgeport | Connecticut Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 8.0% | 5.6% | 5.2% |
| Working from Home | 6.7% | 14.5% | 13.4% |
| Commute time (minutes) | 22 | 22 | 22 |
Approximately 5,493 people are unemployed in Bridgeport, Connecticut.
The average commute time in Bridgeport is 22 minutes, about the same as in Connecticut.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Bridgeport, Connecticut has fallen from 14.1% to 8.0% in 2023.
Conclusion
Considering all these factors, Bridgeport, Connecticut has an overall wealth index grade of D, making it somewhat worse than Connecticut, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Bridgeport, Connecticut.
How Rich Is Bridgeport, Connecticut?
Bridgeport 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 $56,892, about 40% lower than the Connecticut average of $95,363.
What is the current median household income in Bridgeport, Connecticut?
As of 2023, the median household income in Bridgeport, Connecticut is $56,892.
What was the median household income in Bridgeport in 2023?
In 2023, the median household income in Bridgeport, Connecticut was $56,892.
What was the median household income in Bridgeport in 2020?
In 2020, the median household income in Bridgeport, Connecticut was $48,665.
What is the Gini coefficient in Bridgeport, Connecticut?
The Gini coefficient in Bridgeport is 0.573. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.570, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Bridgeport, Connecticut?
Since 2009, the income gap between men and women in Bridgeport, Connecticut has narrowed from about 13% to 9% in 2023. In dollar terms, the gap has narrowed by $466 since 2009.