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 | Hartford | Connecticut Avg | US Average |
|---|---|---|---|
| Median Household Income | $46,634 | $95,363 | $78,145 |
| Median Personal Income | $47,715 | $76,086 | $61,726 |
| Average income growth | 5.2% | 4.1% | 5.1% |
| Six-Figure Earners | 5.8% | 18.1% | 13.2% |
The median household income in Hartford is about 51% lower than in Connecticut. Income has been growing faster in Hartford (5.2%/yr) than in Connecticut (4.1%/yr).
About 6% of adults in Hartford 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 Hartford, Connecticut grew by 57.3% from 2009 to 2023, reaching $46,634 in 2023. That's an average of about 5.2% per year.
Economic Inequality in Hartford | Gender Pay Gap | Gini Coefficient
| Metric | Hartford | Connecticut Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.578 | 0.555 | 0.570 |
| Male Median Income | $51,690 | $83,962 | $67,746 |
| Female Median Income | $43,254 | $68,602 | $54,793 |
| Gender Pay Gap | 16.3% | 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 Hartford, it is 0.578, 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 20% more than women's income in Hartford, Connecticut. Over a 35-year career, a 20% wage gap accumulates to roughly $295,260 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Hartford, Connecticut has widened from about 8% to 16% in 2023. In dollar terms, the gap has widened by $5,671 since 2009.
Employment
| Metric | Hartford | Connecticut Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 10.5% | 5.6% | 5.2% |
| Working from Home | 8.7% | 14.5% | 13.4% |
| Commute time (minutes) | 20 | 22 | 22 |
Approximately 5,911 people are unemployed in Hartford, Connecticut.
The average commute time in Hartford is 20 minutes, shorter than the 22 minutes in Connecticut.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Hartford, Connecticut has fallen from 17.8% to 10.5% in 2023.
Conclusion
Considering all these factors, Hartford, Connecticut has an overall wealth index grade of F, making it worse than Connecticut, and worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Hartford, Connecticut.
How Rich Is Hartford, Connecticut?
Hartford has a wealth index grade of F. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an F grade means residents are well below the U.S. average. The median household income is $46,634, about 51% lower than the Connecticut average of $95,363.
What is the current median household income in Hartford, Connecticut?
As of 2023, the median household income in Hartford, Connecticut is $46,634.
What was the median household income in Hartford in 2023?
In 2023, the median household income in Hartford, Connecticut was $46,634.
What was the median household income in Hartford in 2020?
In 2020, the median household income in Hartford, Connecticut was $38,254.
What is the Gini coefficient in Hartford, Connecticut?
The Gini coefficient in Hartford is 0.578. 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 Hartford, Connecticut?
Since 2009, the income gap between men and women in Hartford, Connecticut has widened from about 8% to 16% in 2023. In dollar terms, the gap has widened by $5,671 since 2009.