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 | Manchester | Connecticut Avg | US Average |
|---|---|---|---|
| Median Household Income | $78,495 | $95,363 | $78,145 |
| Median Personal Income | $62,036 | $76,086 | $61,726 |
| Average income growth | 3.7% | 4.1% | 5.1% |
| Six-Figure Earners | 9.3% | 18.1% | 13.2% |
The median household income in Manchester is about 18% lower than in Connecticut. Income has been growing slower in Manchester (3.7%/yr) than in Connecticut (4.1%/yr).
About 9% of adults in Manchester 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 Manchester, Connecticut grew by 44.9% from 2009 to 2023, reaching $78,495 in 2023. That's an average of about 3.7% per year.
Economic Inequality in Manchester | Gender Pay Gap | Gini Coefficient
| Metric | Manchester | Connecticut Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.510 | 0.555 | 0.570 |
| Male Median Income | $61,518 | $83,962 | $67,746 |
| Female Median Income | $63,108 | $68,602 | $54,793 |
| Gender Pay Gap | -2.6% | 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 Manchester, it is 0.510, 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.
Women's income is about 3% more than men's income in Manchester, Connecticut. Over a 35-year career, a 3% wage gap accumulates to roughly $55,650 in unearned income for male workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Manchester, Connecticut has narrowed from about 28% to -3% in 2023. In dollar terms, the gap has narrowed by $15,982 since 2009.
Employment
| Metric | Manchester | Connecticut Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.5% | 5.6% | 5.2% |
| Working from Home | 10.7% | 14.5% | 13.4% |
| Commute time (minutes) | 21 | 22 | 22 |
Approximately 1,082 people are unemployed in Manchester, Connecticut.
The average commute time in Manchester is 21 minutes, shorter than the 22 minutes in Connecticut.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Manchester, Connecticut has fallen from 9.0% to 5.5% in 2023.
Conclusion
Considering all these factors, Manchester, 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 Manchester, Connecticut.
How Rich Is Manchester, Connecticut?
Manchester 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 $78,495, about 18% lower than the Connecticut average of $95,363.
What is the current median household income in Manchester, Connecticut?
As of 2023, the median household income in Manchester, Connecticut is $78,495.
What was the median household income in Manchester in 2023?
In 2023, the median household income in Manchester, Connecticut was $78,495.
What was the median household income in Manchester in 2020?
In 2020, the median household income in Manchester, Connecticut was $67,930.
What is the Gini coefficient in Manchester, Connecticut?
The Gini coefficient in Manchester is 0.510. 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 Manchester, Connecticut?
Since 2009, the income gap between men and women in Manchester, Connecticut has narrowed from about 28% to -3% in 2023. In dollar terms, the gap has narrowed by $15,982 since 2009.