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 | Greater Bridgeport Planning Region | Connecticut Avg | US Average |
|---|---|---|---|
| Median Household Income | $89,840 | $95,363 | $78,145 |
| Median Personal Income | $73,184 | $76,086 | $61,726 |
| Average income growth | 4.2% | 4.1% | 5.1% |
| Six-Figure Earners | 17.4% | 18.1% | 13.2% |
The median household income in Greater Bridgeport Planning Region is about 6% lower than in Connecticut. Income has been growing faster in Greater Bridgeport Planning Region (4.2%/yr) than in Connecticut (4.1%/yr).
About 17% of adults in Greater Bridgeport Planning Region 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 Greater Bridgeport Planning Region, Connecticut grew by 44.2% from 2009 to 2023, reaching $89,840 in 2023. That's an average of about 4.2% per year.
Economic Inequality in Greater Bridgeport Planning Region | Gender Pay Gap | Gini Coefficient
| Metric | Greater Bridgeport Planning Region | Connecticut Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.589 | 0.555 | 0.570 |
| Male Median Income | $79,116 | $83,962 | $67,746 |
| Female Median Income | $67,274 | $68,602 | $54,793 |
| Gender Pay Gap | 15.0% | 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 Greater Bridgeport Planning Region, it is 0.589, higher than Connecticut's 0.555, so income is less 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 18% more than women's income in Greater Bridgeport Planning Region, Connecticut. Over a 35-year career, a 18% wage gap accumulates to roughly $414,470 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Greater Bridgeport Planning Region, Connecticut has narrowed from about 26% to 15% in 2023. In dollar terms, the gap has narrowed by $3,822 since 2009.
Employment
| Metric | Greater Bridgeport Planning Region | Connecticut Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.9% | 5.6% | 5.2% |
| Working from Home | 13.2% | 14.5% | 13.4% |
| Commute time (minutes) | 23 | 22 | 22 |
Approximately 10,212 people are unemployed in Greater Bridgeport Planning Region, Connecticut.
The average commute time in Greater Bridgeport Planning Region is 23 minutes, longer than the 22 minutes in Connecticut.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Greater Bridgeport Planning Region, Connecticut has fallen from 10.6% to 6.9% in 2023.
Conclusion
Considering all these factors, Greater Bridgeport Planning Region, 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 Greater Bridgeport Planning Region, Connecticut.
How Rich Is Greater Bridgeport Planning Region, Connecticut?
Greater Bridgeport Planning Region 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 $89,840, about 6% lower than the Connecticut average of $95,363.
What is the current median household income in Greater Bridgeport Planning Region, Connecticut?
As of 2023, the median household income in Greater Bridgeport Planning Region, Connecticut is $89,840.
What was the median household income in Greater Bridgeport Planning Region in 2023?
In 2023, the median household income in Greater Bridgeport Planning Region, Connecticut was $89,840.
What was the median household income in Greater Bridgeport Planning Region in 2020?
In 2020, the median household income in Greater Bridgeport Planning Region, Connecticut was $74,098.
What is the Gini coefficient in Greater Bridgeport Planning Region, Connecticut?
The Gini coefficient in Greater Bridgeport Planning Region is 0.589. 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 Greater Bridgeport Planning Region, Connecticut?
Since 2009, the income gap between men and women in Greater Bridgeport Planning Region, Connecticut has narrowed from about 26% to 15% in 2023. In dollar terms, the gap has narrowed by $3,822 since 2009.