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 | East Haven | Connecticut Avg | US Average |
|---|---|---|---|
| Median Household Income | $87,693 | $95,363 | $78,145 |
| Median Personal Income | $67,608 | $76,086 | $61,726 |
| Average income growth | 4.5% | 4.1% | 5.1% |
| Six-Figure Earners | 9.7% | 18.1% | 13.2% |
The median household income in East Haven is about 8% lower than in Connecticut. Income has been growing faster in East Haven (4.5%/yr) than in Connecticut (4.1%/yr).
About 10% of adults in East Haven 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 East Haven, Connecticut grew by 42.0% from 2009 to 2023, reaching $87,693 in 2023. That's an average of about 4.5% per year.
Economic Inequality in East Haven | Gender Pay Gap | Gini Coefficient
| Metric | East Haven | Connecticut Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.525 | 0.555 | 0.570 |
| Male Median Income | $72,346 | $83,962 | $67,746 |
| Female Median Income | $61,376 | $68,602 | $54,793 |
| Gender Pay Gap | 15.2% | 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 East Haven, it is 0.525, 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 18% more than women's income in East Haven, Connecticut. Over a 35-year career, a 18% wage gap accumulates to roughly $383,950 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in East Haven, Connecticut has narrowed from about 21% to 15% in 2023. In dollar terms, the gap has narrowed by $174 since 2009.
Employment
| Metric | East Haven | Connecticut Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.8% | 5.6% | 5.2% |
| Working from Home | 8.1% | 14.5% | 13.4% |
| Commute time (minutes) | 18 | 22 | 22 |
Approximately 581 people are unemployed in East Haven, Connecticut.
The average commute time in East Haven is 18 minutes, shorter than the 22 minutes in Connecticut.
Unemployment Rate Over Time
Since 2011, the unemployment rate in East Haven, Connecticut has fallen from 9.0% to 4.8% in 2023.
Conclusion
Considering all these factors, East Haven, 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 East Haven, Connecticut.
How Wealthy Is East Haven, Connecticut?
East Haven 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 $87,693, about 8% lower than the Connecticut average of $95,363.
What is the current median household income in East Haven, Connecticut?
As of 2023, the median household income in East Haven, Connecticut is $87,693.
What was the median household income in East Haven in 2023?
In 2023, the median household income in East Haven, Connecticut was $87,693.
What was the median household income in East Haven in 2020?
In 2020, the median household income in East Haven, Connecticut was $68,230.
What is the Gini coefficient in East Haven, Connecticut?
The Gini coefficient in East Haven is 0.525. 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 East Haven, Connecticut?
Since 2009, the income gap between men and women in East Haven, Connecticut has narrowed from about 21% to 15% in 2023. In dollar terms, the gap has narrowed by $174 since 2009.