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 | Danbury | Connecticut Avg | US Average |
|---|---|---|---|
| Median Household Income | $86,176 | $95,363 | $78,145 |
| Median Personal Income | $63,163 | $76,086 | $61,726 |
| Average income growth | 3.5% | 4.1% | 5.1% |
| Six-Figure Earners | 13.1% | 18.1% | 13.2% |
The median household income in Danbury is about 10% lower than in Connecticut. Income has been growing slower in Danbury (3.5%/yr) than in Connecticut (4.1%/yr).
About 13% of adults in Danbury 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 Danbury, Connecticut grew by 31.2% from 2009 to 2023, reaching $86,176 in 2023. That's an average of about 3.5% per year.
Economic Inequality in Danbury | Gender Pay Gap | Gini Coefficient
| Metric | Danbury | Connecticut Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.546 | 0.555 | 0.570 |
| Male Median Income | $65,705 | $83,962 | $67,746 |
| Female Median Income | $57,925 | $68,602 | $54,793 |
| Gender Pay Gap | 11.8% | 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 Danbury, it is 0.546, lower than Connecticut's 0.555, 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 13% more than women's income in Danbury, Connecticut. Over a 35-year career, a 13% wage gap accumulates to roughly $272,300 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Danbury, Connecticut has narrowed from about 23% to 12% in 2023. In dollar terms, the gap has narrowed by $3,698 since 2009.
Employment
| Metric | Danbury | Connecticut Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.1% | 5.6% | 5.2% |
| Working from Home | 11.3% | 14.5% | 13.4% |
| Commute time (minutes) | 21 | 22 | 22 |
Approximately 2,303 people are unemployed in Danbury, Connecticut.
The average commute time in Danbury is 21 minutes, shorter than the 22 minutes in Connecticut.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Danbury, Connecticut has fallen from 7.4% to 6.1% in 2023.
Conclusion
Considering all these factors, Danbury, Connecticut has an overall wealth index grade of B, making it about on par with Connecticut, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Danbury, Connecticut.
How Rich Is Danbury, Connecticut?
Danbury 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 $86,176, about 10% lower than the Connecticut average of $95,363.
What is the current median household income in Danbury, Connecticut?
As of 2023, the median household income in Danbury, Connecticut is $86,176.
What was the median household income in Danbury in 2023?
In 2023, the median household income in Danbury, Connecticut was $86,176.
What was the median household income in Danbury in 2020?
In 2020, the median household income in Danbury, Connecticut was $74,339.
What is the Gini coefficient in Danbury, Connecticut?
The Gini coefficient in Danbury is 0.546. 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 Danbury, Connecticut?
Since 2009, the income gap between men and women in Danbury, Connecticut has narrowed from about 23% to 12% in 2023. In dollar terms, the gap has narrowed by $3,698 since 2009.